2.30% 21-Month CD at Worthington Federal Bank in Alabama - Local Only

Worthington Federal Bank is offering a fairly competitive CD special. It's a 2.30% APY 21-month CD. Minimum deposit is $1,000. The bank also has some competitive standard CDs including a 2.05% APY 18-month CD and a 1.85% APY 12-month CD. These rates are listed in the bank's deposit rate sheet as of 1/10/2010.

The bank also offers a high-yield reward checking account without a balance cap. As you might expect for a reward checking without a cap, the rate isn't that great. It's currently at 1.75% APY (see post).

In the rate sheet above the CD special, it states "Specials Alabama Market Area." So it appears that this special is available only to those in Alabama. The bank is located in Huntsville.

The bank's ratings for safety and soundness have gone down a bit since my July post. The current ratings are a little weak: 3 stars (adequate) at BauerFinancial (based on 9/30/09 data) and 2 stars (below peer group) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1989 (FDIC Certificate # 32649).

Thanks to the reader who mentioned this bank in the bank deals hub.

Other Competitive Certificate of Deposit Rates

• CD rates at DepositAccounts.com
• My weekly list of hot nationwide and local CD deals