MidCoast Community Bank is offering a very competitive rate on its short-term CDs. For terms from 6 months to 12 months the CD yield is 1.00% APY. Minimum deposit is $500. These CDs are listed at the bank's rates page as of 12/21/2010.
It appears that a branch visit is required to open an account. Branches are located in Wilmington and Dover, Delaware.
As a comparison to internet banks on 12/21/2010, the best 6-month CD rate is 1.11% APY at Aurora Bank FSB. ING Direct's 6-month CD rate is only 0.75%. Both of these internet banks have their headquarters in Wilmington. It's interesting to see a brick-and-mortar bank in the same city as these two internet banks that has a rate that is so much higher.
Midcoast Community Bank has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 3.07% (excellent) based on September 2010 data. Please refer to our financial overview of MidCoast Community Bank for more details. The bank has been a FDIC member since 2007 (FDIC Certificate # 58498).
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