1st Colonial Community Bank (NJ) Has Competitive 36-Month CD

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Deal Summary: 36-month CD, 2.00% APY, $500 minimum deposit

Availability: Market area is South New Jersey.

1st Colonial Community Bank (1st Colonial) is currently offering a 36-month CD (2.00% APY). The minimum deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%$500-1st Colonial Community Bank36 Month CD
Accounts mentioned in this post. Rates as of October 19, 2017.

The 36-month CD has maintained a 1.50% APY since July 2014, and this month’s 50 basis point increase has resulted in the highest APY in six years.

The 36-month CD is available as an IRA (Traditional) earning the same APY, with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50%$500-1st Colonial Community Bank36 month IRA
Accounts mentioned in this post. Rates as of October 19, 2017.

According to CSR, the Early Withdrawal Penalty for the 36-month CD is six months interest.

Thanks to DA reader, patking, for the Forum post about 1st Colonial Community Bank.

Availability

Headquartered in Collingswood, New Jersey, 1st Colonial Community Bank’s market area covers South New Jersey.

Opening a CD at 1st Colonial requires a visit to any of two full-service New Jersey branches, located in Collingswood and Westville.

At this time, 1st Colonial Community Bank’s online banking platform is limited to account management and bill payment services.

Bank Overview

1st Colonial Community Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 6.70% (excellent) based on December 31, 2016 data. In the past year, 1st Colonial has increased its total non-brokered deposits by $27.84 million, an excellent annual growth rate of 6.88%. Please refer to our financial overview of 1st Colonial Community Bank (FDIC Certificate # 35456) for more details.

Established in 2000, 1st Colonial Community Bank is currently New Jersey’s 44th largest bank with assets in excess of $487 million. The Bank was originally named 1st Colonial National Bank and was re-branded in 2012 following a change to a conversion to a New Jersey state chartered bank. President/CEO, Gerry Banmiller stated that the conversion,

would allow the bank a greater ability to execute their strategy as a New
Jersey community bank and to remain competitive in their market segment.

How the CD Compares

When compared to the 328 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the Bank’s market area, 1st Colonial Community Bank’s 36-month CD APY currently shares the top spot with First Central Savings Bank’s 36-month E-Certificate of Deposit.

The above rates are accurate as of 3/27/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table or our Rates Map page.


Comments
1st Colonial Community Bank Again Increases 3-Year and 5-Year CDs

1st Colonial Community Bank (southern NJ/Philadelphia metro area) has again increased the rates on their 3-year and 5-year CDs. The rates on these two CDs (also available as IRAs) have consistently risen since early 2012. 1st Colonial's website currently lists the 3-year CD at 1.51% APY and the 5-year CD at 2.01% APY. Both can be opened with an initial deposit of $500, but there is a maximum deposit of $250K per Tax ID Number. 1st Colonial's website states there is a "substantial penalty for early...

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