West Town Savings Bank is offering a 7-year CD and IRA CD with a 3.24% APY. Minimum deposit is $1,000. The bank used to offer a competitive 5-year CD, but that rate is currently only 2.12% APY. These rates are listed at the bank's rates page as of 1/6/2011.
For those looking for the highest CD rate, you'll need to go long. It used to be fairly easy to get at least 3% APY for 5-year terms, but now it's getting tough to find 7-year CDs with yields above 3%. The best 7-year CD rate available nationwide is currently 3.00% APY at Pentagon Federal Credit Union.
It appears that a branch visit is required to open an account at West Town Savings Bank. Branches are located in the Illinois cities of Cicero and North Riverside which are in the western suburbs of Chicago.
The bank has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 52.37% (average) based on September 2010 data. Please refer to our financial overview of West Town Savings Bank for more details. The bank has been a FDIC member since 1951 (FDIC Certificate # 28151).
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