2.30% 21-Month CD at Worthington Federal Bank in Alabama - Local Only


Worthington Federal Bank is offering a fairly competitive CD special. It's a 2.30% APY 21-month CD. Minimum deposit is $1,000. The bank also has some competitive standard CDs including a 2.05% APY 18-month CD and a 1.85% APY 12-month CD. These rates are listed in the bank's deposit rate sheet as of 1/10/2010.

The bank also offers a high-yield reward checking account without a balance cap. As you might expect for a reward checking without a cap, the rate isn't that great. It's currently at 1.75% APY (see post).

In the rate sheet above the CD special, it states "Specials Alabama Market Area." So it appears that this special is available only to those in Alabama. The bank is located in Huntsville.

The bank's ratings for safety and soundness have gone down a bit since my July post. The current ratings are a little weak: 3 stars (adequate) at BauerFinancial (based on 9/30/09 data) and 2 stars (below peer group) at Bankrate.com (based on 6/30/09 data). The bank has been a FDIC member since 1989 (FDIC Certificate # 32649).

Thanks to the reader who mentioned this bank in the bank deals hub.

Other Competitive Certificate of Deposit Rates
1.75% Reward Checking Account Without a Balance Cap at Worthington Federal Bank in AL & NC - Local Only
Update 1/10/10: The top rate has fallen to 1.75% APY.

Worthington Federal Bank is offering a reward checking account called High Interest Plus (HIP) Account. The account pays 1.75% APY on all balances if the following monthly requirements are met:
  • 10 debit card purchases
  • One direct deposit or ACH auto debit
  • One online Bill Payment
  • Receive e-statements
If the requirements are not met, the rate falls to 0.25%. Additional features of the account include:
  • $100 minimum initial deposit
  • Free ATM usage worldwide
  • Free online Bill Pay
  • Free first order of basic wallet checks
The top rate is low for reward checking...

Continue Reading
2.50% 18-Month CD at Worthington Federal Bank in Alabama - Local Only
Worthington Federal Bank is offering a few competitive CD rates at its Huntsville branch. The most competitive include a 2.30% APY 12-month CD, a 2.50% APY 18-month CD and a 2.55% APY 24-month CD. Minimum deposit is $1,000. Same rates also apply to IRA accounts. These rates are listed at the bank's rate table as of 7/14/09. Unfortunately, the CD rates for their North Carolina branch are much lower.

Other competitive accounts offered by the bank as of 7/14/09 include a savings account with a 1.50% APY on balances over $1,000...

Continue Reading