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