Sunday, June 20, 2010 - 3:44 AM
Opened A Two Year CD Online.Broadway Federal Bank
Opened a two-year CD online on 05/31/2010, at 2.51%. I sent them a check on 06/08/2010 and it was received by 06/10/2010, but the rates dropped to 2%, then to 1.5% in the meantime for the two-year CD. I was concerned about this, but since they guaranteed the rate to me, everything work out fine. They answered the phone each time I called, which was two phone calls, and answered after 4-5 rings. The customer service representative informed me that my rate at the time of opening the account was good for thirty days, which I got in writing, both in e-mail and regular mail. I informed the service representative that I would write a positive review, because everything went great. Of course, I appreciate the updates that this website has for the best rates at banks and credit unions.
5 posts since
Jun 20, 2010
Rep Points: 15
1. Sunday, June 20, 2010 - 7:20 AM
The longer term CDs can't be done online. I mailed them a check that was received about the same time as yours. It was for a 6-yr CD at 3.56%. Despite the rate being in effect at the time of the postmark, Broadway Federal refused to honor the rate and returned my check. Obviously my experience with this Bank is on the opposite side of the spectrum---1 star.
21 posts since
May 22, 2010
Rep Points: 82