2.00% 12-Month CD at Valliance Bank in Texas - Local Only
Valliance Bank is offering a special 2.00% APY 12-month CD. Minimum deposit is $1,000. For a Jumbo CD with a $100K minimum, the yield is 2.10% APY. These rates are not listed on the bank's website. I contacted the bank today (2/16/2010), and was informed of these specials. According to the CSR, these rates may change after this week.
The CSR also mentioned a competitive savings account that currently pays 1.85% APY as of 2/16/2010.
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 a little weak: 3 stars (adequate) at BauerFinancial and 2 stars (below peer group) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 2007 (FDIC Certificate # 58572).
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