Dedicated to Deposits: Deals, Data, and Discussion

CD and Checking Account Deals at Cascade Bank in Washington State - Local Only

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Cascade Bank

Update 2/19/2010: The 12-month CD rate has increased to 2.10% APY for $10K minimum. However, the 24-month CD rate has fallen to 2.00% APY

Cascade Bank is offering some good deals on CDs and checking accounts. Its two most competitive CDs are the 2.00% APY 12-month CD and a the 2.50% APY 24-month CD. Minimum deposit is $10,000. The bank's Main Street Checking is also a good deal with a 1.60% APY for balances of $100K to $250K. It's 1.90% APY for over $250K. For more typical balances of $2.5K to $100K, the rate is 1.25% APY. Minimum balance of $1K is required to avoid a monthly service charge. These rates are listed in the bank's deposit rates page as of 2/2/2010.

Two small perks if you open one of the bank's checking account include a free sandwich maker and up to $25 in cash ($2 for each old check card or pad of checks). This is one reason to keep those old checks.

It appears that a branch visit is required to open an account. Branches are located in several cities in Washington State including Bellevue, Issaquah, Shoreline, Burlington, Everett and Marysville.

The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial and 1 star (lowest) at Bankrate.com. Both ratings are based on 9/30/09 financial data. The bank has been a FDIC member since 1957 (FDIC Certificate # 28823).

  Tags: Cascade Bank, Washington, CD rates, checking account

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