Dedicated to Deposits: Deals, Data, and Discussion

2.01% 10-Month CD at Charter Bank in New Mexico - Local Only


Charter Bank
Charter Bank is offering a special 10-month CD with a 2.01% APY. Minimum deposit is $5,000. This rate is listed at the bank's rate table as of 9/25/09.

Charter Bank CDs used to be available nationwide. However, I called the bank yesterday, and I was told that they now require you to come into a branch to open a CD.

Charter Bank is headquartered in Santa Fe, New Mexico. In addition to Santa Fe, it has branches in Albuquerque and Rio Rancho.

This is the same bank that offers the nationwide Turbo Checking Account. It's a reward checking account that pays 4.01% APY on balances up to $25K. The account had been paying 6.01% APY when it was launched in 2007 (see post).

Charter Bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial (based on 6/30/09 data) and 1 stars (lowest) at (based on 3/31/09 data). The bank has been a FDIC member since 1986 (FDIC Certificate # 32498).

Other Competitive Certificate of Deposit Rates

  Tags: Charter Bank, CD rates, New Mexico

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Comment #1 by Anonymous posted on
If they require you to come into a branch to sign up, can you open an account while on vacation from the (other) state where you reside?

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Sometimes banks allow non-locals to open an account. However, sometimes they require new customers to reside in their market area. Before deciding on a trip, it's best to get confirmation from an office manager that they'll allow a non-local to open an account.