Grand Bank, N.A. has competitive rates on several of its deposit products. Its reward checking account yield is still 4.01% APY on balances up to $25K. This is the same rate that it was when I first reported on this in April 2009. However, the money market account rate has gone down since then. However, the rate is still competitive with a top rate of 1.50% APY on balances of at least $50K. The CD rates are also notable. The best ones include a 2.10% APY 24-month CD and a 1.70% APY 15-month CD. These rates are listed in the bank's rates page as of the morning of 7/01/2010.
It appears a branch visit is required to open an account. Branches are located in Hamilton and Hamilton Square, New Jersey.
The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial, 3 stars (performing) at Bankrate.com and an overall health score of 3 out of 5 at DepositAccounts.com (see our Grand Bank financial overview). These ratings are based on 3/31/10 data except for Bankrate which is based on 12/31/09 data. The bank has been a FDIC member since 2002 (FDIC Certificate # 57274).