Broadway Federal Bank


Overview / Commentary
323-931-1886
5055 Wilshire Boulevard, Suite 100
Los Angeles, CA 90036

Broadway Federal Bank is headquartered in Los Angeles and is the 96th largest bank in the state of California. It is also the 1,630th largest bank in the nation. It was established in 1947 and as of September of 2020, it had grown to 65 employees at 3 locations. Broadway Federal Bank's money market rates are 14% higher than the national average, and it has an A health rating.

Reviews (4)

Been Dealing With Broadway Federal For Years!

Posted by: |

I have been dealing with Delmy Martinez at the Inglewood branch for at least 2 years. She always goes out her way to do a good job!

24 Month Rate

Posted by: |

I was offered 1.25% for their 24 month CD when I phoned 6/15/12.

Opened A Two Year CD Online.

Posted by: |

Opened a two-year CD online on 05/31/2010, at 2.51%.  I sent them a check on 06/08/2010 and it was received by 06/10/2010, but the rates dropped to 2%, then to 1.5% in the meantime for the two-year CD.  I was concerned about this, but since they guaranteed the rate to me, everything work out fine.  They answered the phone each time I called, which was two phone calls, and answered after 4-5 rings.  The customer service representative informed me that my rate at the time of opening the account was good for thirty days, which I got in writing, both in e-mail and regular mail.  I informed the service representative that I would write a positive review, because everything went great.  Of course, I appreciate the updates that this website has for the best rates at banks and credit unions.

Broadway Federal Bank Review

Posted by: |

I had a poor experience with this outfit last week.  Their 3.56% 6-year CD  attracted my attention so I called their LA office last Monday (6/710).  By the way, their phone system is just plain horrible as it takes several options to finally get a live person.  When I finally do get a person, whose name I'll omit, she states that the rate was still in effect.   I tell her that's great and I'll get my check and application (printed from their website)  in the mail immediately by priority mail.  I do so and it's postmarked that very day.  Two days later I get a call back from the same rep saying that the rate has dropped  over a full percentage point.  Obviously I no longer want the CD, but I inquire why I shouldn't get the promo due to the postmark on my application.  She had no good answer.  Long story short:  This bank wasted my time and is not user friendly.

 

PS   Depositaccounts.com needs to remove Broadway Federal from the  6+ year CD offers.  The 3.56% yield     is no longer available as of 6/8/10. 



Health

Health Grade Components

Overall
FDIC Certificate #30306
Year Established1947
Employees65
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.18%
Return on Equity - YTD1.68%
Annual Interest Income$13.7MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$497.0MM$412.2MM
LoansQ3 2020vs Q3 2019$402.4MM$363.0MM
DepositsQ3 2020vs Q3 2019$329.0MM$283.6MM
Equity CapitalQ3 2020vs Q3 2019$50.3MM$51.1MM
Loan Loss AllowanceQ3 2020vs Q3 2019$3.2MM$2.8MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$820.00K$699.00K
Real Estate OwnedQ3 2020vs Q3 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Broadway Federal Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Broadway Federal Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$5k*-Regular Savings Account
OTHER TIERS: 0.25% Up to $5k
0.25%$50-Statement Savings Account
0.15%$1k-Business Savings

Broadway Federal Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$100k-Gold VIP Money Market
0.15%$25k-Business Money Market

Broadway Federal Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$2.5k*-High Yield Interest Checking
OTHER TIERS: 0.10% Up to $2.5k
Locations


Broadway Federal Bank Locations
170 North Market Street Branch170 North Market StreetInglewood, CA 90301
South Figueroa Street Branch4001 South Figueroa StreetLos Angeles, CA 90037
Broadway Federal Bank, F.S.B.5055 Wilshire Boulevard, Ste 100Los Angeles, CA 90036

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