HarborOne in Massachusetts just recently changed from a credit union to a bank. When it was a credit union, it had offered several good CD deals. I’m glad to see the deals haven’t stopped now that it’s a bank. HarborOne Bank currently has two good CD deals: a 2.00% APY 4-year CD and a 1.05% APY 7-month CD. Minimum deposit is $1,000 ($500 in an IRA). These rates are listed in the bank’s deposit rates page as of 8/9/2013.
One downside with the 4-year CD is a large early withdrawal penalty. According to the account disclosure, the early withdrawal penalty is equal to 18 months interest on the amount withdrawn. The 7-month CD has a 3-month EWP. Please refer to the bank’s account disclosure for more details.
The bank has an online application that’s powered by Andera. The first page of the online application states that you must have a residential address in either MA, NH, ME, CT, VT, or RI to open your account online.
Accounts can also be opened at one of the bank’s branches. HarborOne Bank branches are located in the Massachusetts cities of Abington, Attleboro, Bridgewater, Brockton, Canton, Easton, Mansfield, Middleborough, Plymouth, Randolph and Raynham.
HarborOne officially converted from a credit union to a bank on July 1st. It’s now a mutual co-operative bank. I first reported on this conversion plan and the reasons for the conversion in this 2012 post. This Credit Union Times article has the most recent news of the conversion.
HarborBone Bank is now a FDIC member with the FDIC certificate # 59070.
How These CD Rates Compare
These rates are accurate as of 8/9/2013.
To search for nationwide CD rates and CD rates in your state, please refer to the best CD rates section of DepositAccounts.com.