Cascade Bank is offering two competitive CD specials: 1.90% APY 12-month CD and a 1.50% APY 6-month CD. Minimum deposit is $10,000. These rates are listed in the bank's deposit rates page as of 5/05/2010.
The CDs are also available in IRAs. One thing to note is that the bank has some IRA fees. A commenter mentioned the following:
IRA FEES are $10.00 "annual fee" and if/when you take the money out, a $25.00 "termination fee".
In my February post on this bank, its Main Street Checking had some competitive rates, but these have gone down quite a bit since then.
It appears that a branch visit is required to open an account. Branches are located in several cities in Washington State including Bellevue, Issaquah, Shoreline, Burlington, Everett and Marysville.
The bank's ratings for safety and soundness are a little weak: 2 stars (problematic) at BauerFinancial, 1 star (lowest) at Bankrate.com and 2 out of 5 overall health score at DepositAccounts.com. All ratings are based on 12/31/09 financial data. The bank has been a FDIC member since 1957 (FDIC Certificate # 28823).
Searching for the Best CD Rates
To search for the best nationwide CD rates and the best CD rates in your state, please refer to the CD rates section of DepositAccounts.com. The tables now have a new & improved format!