Broadway Federal Bank Review

I had a poor experience with this outfit last week.  Their 3.56% 6-year CD  attracted my attention so I called their LA office last Monday (6/710).  By the way, their phone system is just plain horrible as it takes several options to finally get a live person.  When I finally do get a person, whose name I'll omit, she states that the rate was still in effect.   I tell her that's great and I'll get my check and application (printed from their website)  in the mail immediately by priority mail.  I do so and it's postmarked that very day.  Two days later I get a call back from the same rep saying that the rate has dropped  over a full percentage point.  Obviously I no longer want the CD, but I inquire why I shouldn't get the promo due to the postmark on my application.  She had no good answer.  Long story short:  This bank wasted my time and is not user friendly.

 

PS   Depositaccounts.com needs to remove Broadway Federal from the  6+ year CD offers.  The 3.56% yield     is no longer available as of 6/8/10.