Competitive 24-Month CD Rate Continues at American Bank of Commerce - TX & CO Only

American Bank of Commerce continues to offer a 2-year CD yield of 2.32% APY. Minimum deposit is $1,000. The early withdrawal penalty is 90 days of interest. This CD rate isn't listed at the bank's website. I noticed my February post on this CD, and I decided to check with the bank on its status. I called the Colorado Springs branch yesterday, and according to the CSR, the rate is still good. Rate changes are usually made on Wednesdays, so it should be good for at least another week. The CSR also said that they give an extra 0.25% on CDs when you open a checking account. Some other notable CD rates that she mentioned include a 1.76% APY 18-month CD and a 2.52% APY 36-month CD.

A branch visit is required to open an account. These CD rates appear to be available at all of their branches, but this is not guaranteed. Branches are located in Texas cities of Austin, Lubbock, Mansfield, Plano and Wolfforth, and in the Colorado cities of Pueblo and Colorado Springs.

The bank's ratings for safety and soundness are a little mixed: 3½ stars (good) at BauerFinancial (based on 12/31/09 data) and 2 stars (below peer group) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1962 (FDIC Certificate # 18609).