CD and Money Market Specials Continue at Customers Bank in PA, NJ & NY - Local Only

POSTED ON BY

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.65%$500-Customers Bank13 Month CD
Accounts mentioned in this post. Rates as of September 27, 2016.

Customers Bank continues to offer good deals on CDs and a money market account. The rates have gone down since my December post, but the rates remain competitive. These specials are listed as January specials in the rate table. Here are the special CD and money market account rates listed on the bank's rates page as of 1/17/2011:

  • 1.75% APY 2-year CD, $500 minimum
  • 1.50% APY 11-month CD, $500 minimum
  • 1.50% APY money market account (1% under $10K)

For those who opened this money market account when the promo rate was higher, you might be getting higher rates than new customers. A reader mentioned in the discussion forum that it appears he was grandfathered with the higher rate at least for a while.

The bank offers an online application. On the first page, you have to choose a branch. However, one of the options is "too far from branch - online only". If you select this option, the next page will require you to select your state. Unfortunately, there are only two options: Pennsylvania and New Jersey.

Branches are located in the suburbs of Philadelphia in the cities of Doylestown, Phoenixville, Malvern, Wayne and Newtown Square. I also just noticed there's a branch in Port Chester, New York (operating as USA Bank). Also, there's a branch at Cherry Hill, New Jersey (formerly ISN Bank).

The bank does business as Customers Bank, but it's actual name is New Century Bank. In September they took over ISN Bank after its failure. Century Bank's overall health score of 4 out of 5 with a Texas Ratio of 26.32% (above average) based on September 2010 data. Please refer to our financial overview of Customers Bank for more details. The bank has been a FDIC member since 1997 (FDIC Certificate # 34444).

Searching for High-Interest CD and Money Market Rates

Comments
Anonymous
Anonymous   |     |   Comment #1
Spoke w them friday - yes you are grandfathered (mine still 2% MMA). Unfortunately next month all MMA come under review and "can be changed under management discretion" - stay tuned...but no doubt we have heard that song before - I fear the fat lady is waiting in the wings on this one.
betty wampler
betty wampler (anonymous)   |     |   Comment #2
LIST A MAILING ADDRESS WITH ZIP CODE ON STATEMENTS
Anonymous
Anonymous   |     |   Comment #3
Hamilton, NJ branch of Customers Bank is offering 2% Money Market Promotional APY through 7/31/11.  It is a recently opened branch.  The rate is advertised outside the branch and on pamphlets available inside.  Branch visit is probably required--and rate may be available only to residents of this branch's service area.
Dave
Dave (anonymous)   |     |   Comment #4
 

Winter Money Market rates (originally 2% APY) are now down from 1.4% to 1.3% as of 6/17/11

 
CD and Money Market Specials Continue at Customers Bank for PA & NJ Residents

Customers Bank continues to offer good deals on CDs and a money market account. The rates have gone down since my September post, but the rates remain very competitive. There's also a new 2-year CD. Here are the special CD and money market account rates listed on the bank's rates page as of 12/20/2010:

  • 2.00% APY 2-year CD, $500 minimum
  • 1.75% APY 11-month CD, $500 minimum
  • 1.75% APY money market account (1% under $10K)

The 11-month CD and money market account yield had been 2.00%. A reader mentioned in the forum that those who...

Continue Reading
Short-Term CD and Money Market Specials at Customers Bank for PA & NJ Residents

As I was working on last Friday's bank failure post, I noticed these specials at Customers Bank. The FDIC arranged for this bank to assume all of the deposits of the failed ISN Bank. As of 9/19/2010, Customers Bank is listing two very competitive specials on its home page:

  • 2.00% APY 11-month CD, $500 minimum deposit
  • 2.00% APY money market account (1.00% under $10K)

The downside with the money market account is that the rate isn't guaranteed to last for any period. Also, there's a $5 monthly fee for balances under $1,000.

The bank...

Continue Reading
2.00% Money Market Account with Rate Guaranteed for 6 Months at New Century Bank in PA - Local Only
New Century Bank has a nice promotion for its money market account. They're guaranteeing 2.00% APY for 6 months with a minimum balance of $50. The offer is scheduled to end on 11/30/09. The promotion is advertised in a big image on the bank's front page. Also, when you open the account, you get a free Snuggie.

The regular money market rates are listed at the bank's rate table, and the rates are low with a maximum rate of 1.09%. So this is probably not a good long-term deal.

A branch visit...



Continue Reading
4.39% 12-Month CD at ISN Bank - Nationally Available
Update 11/20/08: The CD rates have fallen. Please check the bank's website for the latest rates and specials.

ISN Bank has another attractive rate on its certificates of deposit. This new one is a 12-month CD with a yield of 4.39% APY. It's still offering a 6-month CD with a yield of 4.18% APY which I first reported on in late October. Both have a minimum deposit of $1,000, and these are also available in an IRA.

In June, I called the bank and confirmed that accounts are available to people in...



Continue Reading
4.18% 6-Month CD at ISN Bank - Nationally Available
ISN Bank has once again come out with an attractive rate on its 6-month CD. The yield is 4.18% APY. The minimum deposit is $1,000.

My last report of this bank was in July when it was offering a 4.10% 6-month CD. In June, I called the bank and confirmed that accounts are available to people in any state. If you do apply, I would recommend calling first. They will take your name and give you 7 days to fund the CD at the current rate. They don't charge for incoming...

Continue Reading

More Past Offers