Coronado First Bank is offering a very competitive 4-year CD and IRA CD rate of 1.92% APY. Minimum deposit is $1,000. The Jumbo 4-year CD actually has a lower rate. This 4-year CD rate is listed in the bank's deposit rates page as of 5/10/2012. I don't see any online disclosure. At the bottom of this rates page, it states to "contact bank for complete account information and disclosures."
The bank has two branches in Coronado and San Diego. It appears a branch visit is required to open an account. The bank used have the name Embarcadero Bank. In November 2011 it acquired Coronado First Bank, and it also changed its name.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 4.61% (excellent) based on December 2011 data. Please refer to our financial overview of Coronado First Bank for more details. The bank has been a FDIC member since 2006 (FDIC Certificate # 58291).
How This 4-Year CD Rate Compares
The highest 4-year CD rate that's nationally available is 1.96% APY at Melrose Credit Union. The highest 4-year CD rate at a bank is 1.60% APY at Nationwide Bank. If you're concerned with being left behind by rising rates, Ally Bank has a 4-year Raise Your Rate CD with a 1.45% APY. This allows 2 rate bumps during the term. These rates are accurate as of 5/10/2012.
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