CFG Bank

Overview / Commentary
1422 Clarkview Road
Baltimore, MD 21209

CFG Bank is headquartered in Lutherville and is the 8th largest bank in the state of Maryland. It is also the 521st largest bank in the nation. It was established in 1997 and as of June of 2021, it had grown to 163 employees at 2 locations. CFG Bank's money market rates are 34% higher than the national average, and it has an A health rating.

Related Posts

CFG Bank's 13-Month Penalty Free CD Is Top Rate No Penalty CD - 7/21/2021

CFG Bank's nationally available 13-month Penalty Free CD (one penalty-free withdrawal) continues to be the top-rated nationally available No Penalty CD.

CFG Bank's Latest Biweekly Rate Cut - 11/20/2020

They're right on schedule! Next rate cut forecasted for 12/4. WAS: 0.76/0.66 NOW: 0.72/0.62

CFG High Yield Money Market Account Dropped To 0.76% - 11/8/2020

CFG Formerly High Yield (ain't high yield any more) Money Market Account dropped to 0.76% for balances $25,000+

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Reviews (8)

Solid Overall Bank

Posted by: |

Overall, I'm very happy with having my money at CFG Bank. The rates are the best in the country and the customer service was very helpful when I called in to finish setting up my account.

I agree that the withdrawal limits could be better, but luckily for me I'm not moving large sums of money regularly in and out of the account.

As for the fact that they want a bunch of personal information, I didn't find it anything out of the norm. Banks have a TON of regulations they need to comply with they are doing what is required. If I had to choose between a bank that did MORE due diligence than less....well I'd always go with the more rigorous.

Just my two cents...

Bank Review

To open an account is somewhat onerous, but worth it. They just want to make sure all is on the up and up with a new account holder. Can't be too careful these days. I think this is a great bank.

Fine Customer Service And Good Rates

Posted by: |

CD's were recently above the market -- but were dropped this week; are now equal to top-tier banks at 2.45 to 2.5 for 12 to 18 months. Excellent customer service.

Must Provide Passwords From External Accounts

Must give them username and password from external accounts to set up transfers!!

"Money Market Accounts (NO CHECK WRITING PRIVILEGES FOR ONLINE MONEY MARKETS; CONSUMER ACCOUNTS ONLY) Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period."

Money Market Steadily Declining

Posted by: |

We moved our savings over to CFG because they had some great rates at the time. Unfortunately this seems to be only a promotional thing and every month the interest rate has decreased to a point where it is now less than half of what it was when we joined. Is pretty inconvenient to need to be shopping again for a new bank so soon.

A Trial Of Endurance

Posted by: |

Their application system cost me hours of frustration and without any success. As with others " dont bother"

Sucks Bigtime, Avoid.

Posted by: |

Went through opening twice. No security questions asked. Then they say if they weren't asked it means we can't open the account despite application completing, credit score above 830, impeccable history. In my opinion, they feed you bullshit because they don't want to take new clients or filter you by how much money you say you want to bring in.

CFG Bank Review

Posted by: |

Application response was an email request for "A valid copy of your driver’s license OR a copy of a utility bill from the address with your name on it
A copy of a phone bill with your name and phone number on it" The app required the amount and account # for initial funding of accout.
So I called and asked them what the problem was. I've dealt with numerous banks and never put out so much personal data for so little success. I told them to cancel the request after I asked them why they didn't just call me and why they didn't compare the DL data to the app.
Forget it; the APY is not worth it. Wish I had walked away when I was filling out the app.


Health Grade Components

FDIC Certificate #34294
Year Established1997
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.17%
Return on Equity - YTD38.74%
Annual Interest Income$47.7MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$2.05B$1.72B
LoansQ2 2021vs Q2 2020$1.49B$1.30B
DepositsQ2 2021vs Q2 2020$1.71B$1.42B
Equity CapitalQ2 2021vs Q2 2020$226.7MM$168.6MM
Loan Loss AllowanceQ2 2021vs Q2 2020$30.8MM$23.5MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$18.7MM$4.4MM
Real Estate OwnedQ2 2021vs Q2 2020$1.5MM$0
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Always verify rates and promotions with the bank or credit union. We are not CFG 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.

CFG Bank Money Market Rates

0.59%*$25k*-CFG High Yield Money Market - New Money
OTHER TIERS: 0.49% $1k - $25k

CFG Bank CD Rates

1.00%$500$250k60 Month CD
0.85%$500-36 Month CD
0.70%$500$250k18 Month CD
0.67%$500$250k12 Month CD
0.62%$500$250k13 Month Penalty Free CD

CFG Bank Locations
CFG Bank11 W. Ridgely RoadLutherville, MD 21093
Baltimore Branch1615 Thames StreetBaltimore, MD 21231

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