Atlas Savings and Loan Association continues to offer competitive CD and IRA CD rates. Some of the CD rates have fallen a bit since my June post, but they remain attractive compared to what other banks are offering. The best CDs and IRA CDs that are listed in the bank's rates page as of 8/03/2010 include:
- 1.51% APY 12 months (1.71% IRA)
- 1.61% APY 18 months
- 2.02% APY 24 months (2.22% IRA)
- 3.15% APY 60 months
They used to offer a very competitive 3-year IRA CD, but this rate is no longer noteworthy. Minimum deposit is $2,500 for both the regular and IRA CDs.
The bank just recently opened a new branch at Staten Island. You might want to keep a look out for grand opening deposit specials. Currently, the only new branch special they're offering is a mortgage and refinancing special.
The bank's main office is located in Brooklyn, New York. It appears that a branch visit is required to open accounts.
The bank continues to have strong ratings for safety and soundness: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 5 out of 5 at DepositAccounts.com (see our financial overview for Atlas Savings and Loan Association). These ratings are based on 3/31/10 financial data. The bank has been a FDIC member since 1955 (FDIC Certificate # 30783).