Dedicated to Deposits: Deals, Data, and Discussion

2.00% 10-Month CD at Harleysville National Bank in PA - Local Only

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Harleysville National Bank continues to offer a special 2.00% APY 10-month CD which is quite competitive in today's rate environment. The longer term CD specials are not quite as competitive: 2.25% APY 21-month and 2.50% APY 37-month. The special 7-month CD rate has fallen since my August post and is now 1.75% APY. Minimum deposit is $500. The 10-month and the 21-month CDs require a consumer checking account. These are also available in IRA CDs. These specials are listed in the bank's rates page as of 9/29/09. Note, the page requires a zip code before the rates are listed so rates may vary by area. The above rates were based on a Philadelphia zip code.

In July a reader mentioned some details about these specials that are not listed on the website. Maximum deposit is $50,000, and new money is required. An additional 0.10% can be added for ongoing direct deposit from employer into the Harleysville checking account.

It appears a branch visit is required to open an account. Branches are located in nine Eastern Pennsylvania counties.

The parent of Harleysville National Bank is in the process of being acquired by First Niagara. According to this press release, the transaction is expected to close in the first quarter of 2010.

Harleysville National Bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 6/30/09 data) and 3 stars (performing) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 7516).

Other Competitive Certificate of Deposit Rates
  Tags: Pennsylvania, CD rates

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