Mutual Federal Bank is offering a competitive 5-year CD rate of 3.10% APY. The 30-month CD rate is also fairly competitive at 2.00% APY. Minimum deposit is $500. These rates are listed at the bank's CD rate page as of 8/13/2010.
This bank used to offer top Jumbo 6-month CD rates, but currently the 6-month rate is low.
It appears that a branch visit is required to open an account. It's a small bank with one office located at 2212 West Cermak Road, Chicago, IL.
The bank's ratings for safety and soundness are a little above average: 3 stars (performing) at Bankrate.com, 3½ stars (good) at BauerFinancial and an overall health score of 4 out of 5 at DepositAccounts.com (see our financial overview of Mutual Federal Bank). These ratings are based on 3/31/10 financial data. The bank has been a FDIC member since 1935 (FDIC Certificate # 28302).
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