Avidia Bank is offering some competitive CD and IRA CD rates. The best one is the 2-year CD which has a 2.22% APY. Other noteworthy CDs include a 1.51% APY 12-month CD and a 1.82% APY 18-month CD. Minimum deposit is $1,000. IRA CD rates are about 15 basis points higher with a $500 minimum deposit. These rates are listed in the bank's rates page as of 4/25/2010.
It appears that a branch visit is required to open an account. Branches are located in the Massachusetts cities of Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough and Shrewsbury.
The bank's ratings for safety and soundness are a little weak: 3½ stars at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1985 (FDIC Certificate # 90215).
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