Atlas Bank is having a CD promotion with two very competitive CDs: a 2.22% APY 2-year CD and a 1.51% APY 1-year CD. Minimum deposit is $2,500. The bank continues to offer very competitive IRA CD rates. The best ones include a 1.56% APY for 1 year, 2.12% APY for 2 years and 2.22% APY for 3 years. When I last contacted the bank, I was told the early withdrawal penalty is 6 months of interest. These rates are listed in the bank's deposit rates page as of 3/15/2011.
A branch visit is required to open an account. The bank has two branches in Brooklyn and Staten Island
How It Compares
The best 1-year CD rate available nationwide is 1.45% APY at Incredible Bank (1.75% APY with active checking at Connexus Credit Union). The best 2-year CD rate available nationwide is 1.77% APY at Self-Help Credit Union. These rates are accurate as of 3/15/2011.
Atlas Bank Overview
Atlas Bank continues to be financially healthy. It has an overall health score of 5 stars (out of 5) with a Texas Ratio of 2.67% (excellent) based on December 2010 data. Please refer to our financial overview of Atlas Bank for more details. The bank has been a FDIC member since 1955 (FDIC Certificate # 30783).