Top CD and Reward Checking Rates at Crossroads Bank in Southwest IL - Local Only


1.00%$500-Crossroads Bank36 Month CD
0.60%$500-Crossroads Bank24 Month CD
0.40%$500-Crossroads Bank18 Month CD
0.35%$500-Crossroads Bank12 Month CD
Accounts mentioned in this post. Rates as of October 23, 2016.

Crossroads Bank has several top rates on its deposit products. Some of its best CD and IRA CD rates include a 2.01% APY 18-month CD and a 2.77% APY 36-month CD. Minimum deposit is $500. These rates are listed in the bank's rates page as of 6/03/2010.

The bank has long offered a competitive reward checking account. It's current rate is 4.10% APY on balances up to $30K. The second tier rate is also above average at 1.75% APY. The downside is an above-average debit card usage requirement of 20 purchases per month. I first reported on this reward checking account in 2008 when the top rate was 6.10% APY.

A branch visit appears to be required to open an account. Branches are located in Effingham which is located in the southwest part of Illinois.

The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial, 4 stars (sound) at and an overall health score of 4 out of 5 at (see our Crossroads Bank rates and reviews page). BauerFinancial and Bankrate ratings are still based on 12/31/09 data. DepositAccount ratings are not based on 3/31/10 data. The bank has been a FDIC member since 1974 (FDIC Certificate # 21486).

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4.10% Reward Checking Account at an Illinois Bank (Crossroads)
Update 6/07/09: The top yield has fallen to 4.10% APY. Refer to the bottom of the post for the rate history.

Crossroads Bank has a reward checking account called Effingham First Checking that pays 4.10% APY on balances up to $30,000 (2.00% for above) if the following two monthly requirements are met: 1) 20 Visa debit card transactions, and 2) receive electronic statements. If these are not met, the rate falls to 0.10%. The minimum deposit to open the account is $50.

The rate and the $30K balance cap are a little...

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