Atlas Savings and Loan Association continues to offer competitive CD and IRA CD rates. The CD rates have fallen a bit since my August post, but they remain attractive compared to what other banks are offering. One CD rate that's not listed is a grand opening special CD that's available at the new Staton Island branch. I called the bank today (10/5/2010), and I confirmed that this special is still available. It's a 2.28% APY 2-year CD with a $2,500 minimum deposit. It's subject to change at any time.
For the standard rates, the best CDs and IRA CDs that are listed in the bank's rates page as of 10/05/2010 include:
- 1.87% APY 2 years (1.97% IRA)
- 2.12% APY 30 months
- 2.89% APY 5 years (2.99% IRA)
Minimum deposit is $2,500 for both the regular and IRA CDs. According to the bank rep, the early withdrawal penalty is 6 months of interest.
The bank's main office is located in Brooklyn, New York. A branch visit is required to open accounts.
The bank continues to be financially healthy. It has an overall health score of 5 out of 5 with a Texas Ratio of 0% based on 6/30/2010 data. Please refer to our financial overview of Atlas Savings and Loan Association for more details. The bank has been a FDIC member since 1955 (FDIC Certificate # 30783).