Here's a list of the APYs of some of the best deals as listed at the bank's rate table as of the morning of 8/07/09:
- Global Money Market Account - 2.15% $75K-$300K, 1.95% $5K-$75K
- Super Saver Installment CD - 3.15% 1-year to 5-year
- CDs - 2.25% 12-month, 2.00% 6-month
In my previous post, readers mentioned that you can get an extra 0.25% bonus on CDs if you have the bank's Global Supreme Checking Account. This checking account requires a minimum $5,000 balance to avoid a $20/month fee.
There's an online application for some of the above products. When I called in June, I was told that people in any state can open these accounts online. According to the CSR, the CD rate will lock at the time the application is submitted. The products available in the online application include the 12- and 36-month CD and IRA CD, the Global Money Market and the Global Free Checking Account. The application has options for both permanent and non-permanent residents. Readers have reported being told that other accounts like the Super Saver CD require a branch visit.
United Central Bank just acquired more branches in major cities. This is due to their acquisition last Friday of Mutual Bank which was closed by regulators (see post). However, I don't know how long it'll take before Mutual Bank branches will be able to open these United Central Bank products. If you have received info from Mutual Bank and United Central, please leave a comment. Mutual Bank had branches in New York, New Jersey, Houston and in Chicago.
Even without the Mutual Bank branches, United Central Bank has branches in several parts of the country with branches in Texas, California, Georgia, Maryland and Virginia. Some of the major cities include Los Angeles, Austin, Houston and Dallas.
United Central Bank's rating for safety and soundness fell a bit at Bankrate.com. From 12/31/08 data to 3/31/09 data, it fell from 3 to 2 stars (below peer group). It remains 3½ stars (good) at BauerFinancial based on 3/31/09 data. The bank has been a FDIC member since 1984 (FDIC Certificate # 25330).
Other High Rates
For other top savings, money market accounts, CDs and installment savings accounts, refer to the following pages:
