With Halloween only a few days away, Avon Co-operative Bank (Massachusetts) raised the rate on its 30-month CD (2.05% APY) by a "spook-tacular" 120 basis points. (My apologies - I’ve been waiting all year to use that phrase.)
In the past two years, the 30-month CD has had 12 rate changes, ranging from a low of 0.60% APY in October 2013 to today’s high of 2.05% APY.
The minimum deposit on the 30-month CD is $1K, with no balance cap. The 30-month CD is also available as an IRA (Traditional) earning the same APY and with the same funding requirements.According to a very helpful CSR, the Early Withdrawal Penalty is "6 months of interest on the principal withdrawn."
Avon Co-operative Bank continues to offer its popular Checking Account Promotion. Simply open any of four different free checking accounts (Absolutely Free Checking, 50+ Free Interest Checking, Direct Free Interest Checking, or 18/65 Checking) with a minimum $50 initial deposit, and
You’ll receive a FREE gift PLUS up to $25 for your old checks and debit card.
Avon Co-operative Bank is a self-styled, small-town community bank in a large market. Located on Main Street in Avon (20 miles south of Boston), Avon Co-operative Bank's market area is metropolitan Boston and the surrounding southeastern Massachusetts region.
Currently, Avon Co-operative Bank’s online banking capabilities are limited to account management. Opening any account, including CDs, requires an in-person visit to Avon Co-operative Bank's sole branch.
Avon Co-operative Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 8.23% (excellent) based on June 30, 2015 data. In the past year, Avon Co-operative Bank has increased its total deposits by $11.97 Million, an excellent annual growth rate of 18.22%. Please refer to our financial overview of Avon Co-operative Bank for more details.
Founded in 1914, Avon Co-operative Bank (FDIC Certificate # 26617) is a privately held institution that has served the surrounding southeastern Massachusetts area with personal banking, business banking, and home mortgages for the past 100 years.
How the CD Compares
When compared to the 326 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to residents of Massachusetts, Avon Co-operative Bank's 30-month CD currently ranks second.
The above rates are accurate as of 10/29/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.