Top 2-Year CD Rate at OmniAmerican Bank in Dallas/Fort Worth - Local Only

OmniAmerican Bank is offering a competitive 2.10% APY 2-year CD. Minimum deposit is $500. Other CDs of note include a 2.50% APY 36-month CD and a 3.00% APY 60-month CD. These rates are listed in the bank's rate sheet as of 4/27/2010.

It appears that a branch visit is required to open an account. Branches are located throughout the Dallas/Forth Worth metro area.

One thing that's unique about OmniAmerican Bank is that it used to be a credit union. According to the bank's About page, OmniAmerican Credit Union members voted to become a mutual savings bank in 2005. It's also interesting to note the latest change at the bank:

In January 2010, the depositors of OmniAmerican Bank approved a plan of conversion from a mutual to stock form. As part of the conversion, OmniAmerican Bank became a wholly-owned subsidiary of OmniAmerican Bancorp and, as of January 21, 2010, was listed on the NASDAQ Exchange as OABC.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 2006 (FDIC Certificate # 58050).