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 Fed Savings Bank Boosts 12-Month CD - 7/13/2018

Colorado Federal Savings Bank has raised the rate on its nationally available 12-month CD (2.51% APY) by 21 bps. Minimum deposit is $5k, with no stated balance cap.

Colorado Fed Savings Bank Pushes 12-Month CD APY Up - 5/12/2018

Colorado Federal Savings Bank (internet bank) has added 10 bps to is 12-month CD (2.20% APY). The minimum deposit is $5k, with no stated balance cap.

12 Month CD - 2.30% APY - 5/11/2018

Interest Rate: 2.27% APY: 2.30% Early Withdrawal Penalty: 3 months of interest Minimum Opening Deposit and Balance: $5,000 ACH Fee: None Monthly Maintenance Fee: None Online Account Fee: None Annual Percentage Yield accurate as of May 11th, 2018. Early Withdrawal Penalty for withdrawals prior to maturity date equals 3 months worth of interest on Certificate Term of one year or less and 6 months worth of interest for a certificate term over one year.

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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.

High CD Rates

Since Colorado Fed S B is offering high CD rates, I thought I'd post regarding my recent account opening experience. Their account opening experience is both complex and efficient. By complex I mean they used just about every security requirement that I have experienced with all other online banks. Since I have a credit freeze on my accounts at all of the credit bureaus, I called ahead to ask if that would be a problem. They said that since they use a credit bureau to verify applications, I would need an extra step of emailing an image of my drivers license; no problem I've had this request before.
They require an ID and password be set up for purposes of processing the application. However, once the CD is funded, they required an entirely new/different ID & PW for account access (through electronic banking); I've encountered this complexity at one other institution. Like most online banks, they send test deposits/withdrawals to your funding bank, as part of the account set up. So, I started my application before the funds had even been moved into my funding account. You control the funding timing, because the CD is not funded until you respond to report the test transactions. CFSB, established the effective date of my CD on the date I reported the test transactions and initiated ACH transfer to fund the CD. Hence, I am earning interest before they have received the funds. No lost interest.
CFSB's disclosures make it pretty clear that you need to fund a CD from an account that you expect will be open to receive the proceeds at maturity, as they will only electronically transfer to the opening account. As another poster observed, this could be viewed as a security feature.
CFSB initiated their processing steps as soon as they had the necessary information at each stage, thus I say they are efficient for CDs. I think this is the most reliable of all the highest CD rate institutions, based on reviews on this site.

Highest Yield

Posted by: XJ | Jan 3, 2018

Just moved from Goldman Sachs to Colorado Federal Savings Bank last week. So far no problems... Only thing I'm not thrilled about is they don't have verification for logins. However, from what I can tell, you're limited to only one bank that is linked to the account so the only way to transfer money out of the account online would be to send it back to your own bank account at the linked bank. I guess that's secure enough for me. Certainly can't beat the yield!

Maturing CD

Posted by: RZ | Oct 28, 2017

I had a 18 mo CD maturing this month and called the bank to confirm their policy on redemption. I was told that the proceeds must be transferred to the same external bank account that was used to set up the initial funding. If the account is closed or you wish to use another bank you must fax a form to them stating that the account was closed which they then must confirm with that bank themselves which I thought was odd. Since my account was still open I instructed them by email and confirmed by telephone that I wanted the funds returned to the original account. Today being Friday I received notice that the CD was renewed at the same rate and term. I won't be able to speak to them until Monday and assume that I will be in for some more hoop jumping and lost interest. My advice would be to avoid doing business with this bank.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #33111
Year Established1990
Employees66
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.89%
Return on Equity - YTD7.99%
Annual Interest Income$41.8MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$1.83B$1.77B
LoansQ3 2018vs Q3 2017$938.3MM$733.5MM
DepositsQ3 2018vs Q3 2017$1.27B$1.27B
Equity CapitalQ3 2018vs Q3 2017$209.7MM$201.1MM
Loan Loss AllowanceQ3 2018vs Q3 2017$10.8MM$6.0MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$688.00K$905.00K
Real Estate OwnedQ3 2018vs Q3 2017$258.00K$0
Rates
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Colorado Federal Savings Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.90%$50k-Premier Savings
1.25%$1-High Yield Savings

Colorado Federal Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%$5k-60 Month CD
3.00%$5k-36 Month CD
2.80%$5k-24 Month CD
2.60%$5k-18 Month CD
2.51%$5k-12 Month CD
2.28%$5k-6 Month CD
1.95%$5k-3 Month CD
1.60%$5k-2 Month CD
1.35%$5k-1 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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.