Featured Savings Rates
Featured Accounts

Colorado Federal Savings Bank

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.25%1-year CD1 Year CD
0.85%SavingsOnline Savings Account
1.35%3-year CD3 Year CD

Overview / Commentary
877-484-2372
8400 E. Prentice Avenue, Suite 840
Greenwood Village, CO 80111

Colorado Federal Savings Bank is an online, savings-focused institution that makes limited banking options available to customers and potential customers. It offers savings accounts and certificates of deposit on its depository banking side, and mortgage loans on its lending side. Its deposit accounts typically offer interest rates that are higher than the national average because the bank exists solely online and does not have expenses related to branch operations. The savings account offering has a minimum initial deposit requirement and ensures FDIC insurance of up to $250,000 per depositor. The certificates of deposit range in term lengths from 6 months to 5 years and have initial minimum deposit requirements.

Since Colorado Federal Savings Bank online banking is the exclusive medium for account openings and management, the bank employs the industry standard security protocols for its web-based platform.

Colorado Federal Savings Bank was originally established in 1990 and is headquartered in Greenwood Village, Colorado. Its headquarters also function as a full-service brick and mortar office for customers banking locally.

Related Posts

Colorado Federal Savings Bank Offers Top-Rate 1-Year Online CD - 11/6/2015

Colorado Federal Savings Bank (internet only) has raised the rates on its 1-Year CD (1.35% APY) and 18-Month CD (1.40% APY). Minimum deposit is $5K, with no balance cap.

1 Year CD 1.35% APY - 11/6/2015

It looks like Colorado Federal has returned its one year rate to 1.35%. 

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The Future of Banking is Now

Posted by: Dankwood | Jun 24, 2016

I was on my way to my favorite credit union when they unfortunately turned down my cash deposits from my local business. Luckily, I came across Colorado Federal Bank for online savings. The returns from funds with them was higher than my credit union, and they are super friendly and easy to work with. The website is simple to use, and I felt good after opening the account with them. Highly recommended.

CD Disclosures

If you are thinking about taking out a Certificate of Deposit with Colorado Federal Savings Bank, here are two things to consider:

1. Positive--the interest rate locks in with the submission of the online application.

2. Negative--they do not accept POD (Payable On Death) accounts; therefore, no beneficiaries can be assigned to the account.

Since number 2 was a deal breaker for me, I did not ask any further questions. None of the information above was listed in the disclosures on the website; I had to call and ask.

Odd CD Features

Posted by: thowellIII | May 5, 2016

When one opens a CD with Colorado Federal via ACH, the bank opens the CD prior to the funds being transferred and puts a de minimis amount of money in it for the ACH verification. It cuts the maturity of the CD by a week or two while also decreasing the total return. For instance, a $10,000 one year CD at 1.35% APY (1.34% compounded quarterly) $10,131.55 or so. (Yes, only a few dollars difference, but something to consider. Also, the maturity date will not be the anniversary of the balance transfer.) For a renewal CD, the above would not apply.

Second oddity: If one has an online savings account with Colorado Federal, one cannot fund a CD from the account, but must use an externally linked checking account.

One Advice - Avoid

Posted by: Jarek Fol | Mar 25, 2016

After too long and complicated registration process - it was rejected (for no good reason, I opened another account at another bank just a moment earlier). I tried to get help by email, I was dismissed and asked to do registration again.

With that much help during registration, I wonder how much help I would get if I asked about real money (I wanted to open CD).

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Health
A+

Health Grade Components

Overall
FDIC Certificate #33111
Year Established1990
Employees53
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.46%
Return on Equity - YTD4.21%
Annual Interest Income$10.3MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$1.83B$1.61B
LoansQ1 2016vs Q1 2015$490.1MM$573.1MM
DepositsQ1 2016vs Q1 2015$1.25B$1.16B
Equity CapitalQ1 2016vs Q1 2015$195.0MM$191.3MM
Loan Loss AllowanceQ1 2016vs Q1 2015$3.4MM$3.0MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$1.3MM$5.2MM
Real Estate OwnedQ1 2016vs Q1 2015$109.00K$695.00K
Rates
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Colorado Federal Savings Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%$2,500-Online Savings Account

Colorado Federal Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$5k-5 Year CD
1.35%$5k-3 Year CD
1.30%$5k-2 Year CD
1.25%$5k-1 Year CD
1.20%$5k-18 Month CD
0.90%$5k-6 Month CD
Locations

Colorado Federal Savings Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 8400 E. Prentice Avenue, Suite 840 - Greenwood Village, CO 80111