2.10% Savings Account & 2.15% 12-Month CD at Valliance Bank in Texas - Local Only

Valliance Bank is offering two competitive deposit products. One is a savings account with a 2.10% APY. Minimum deposit is $100. The other one is a 12-month CD with a 2.15% APY. Minimum deposit is $1,000, and the maximum is $99,000. These rates don't appear to be listed at the bank's website. They were advertised in the 10/25/09 edition of the Dallas Morning News. The ad is available online here.

It appears that a branch visit is required to open an account. It's a small bank with one office located in McKinney, Texas which is in the northern suburbs of Dallas.

The bank's ratings for safety and soundness are mixed: 3½ stars (good) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 6/30/09 financial data. The bank has been a FDIC member since 2007 (FDIC Certificate # 58572).

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Tags: Valliance Bank, CD rates, Texas, savings account