Firstrust Bank (Firstrust) has partnered with the Philadelphia 76ers to offer five special rate CDs. Of the five, the 9-month (1.76% APY) is the most competitive. The minimum deposit is $2.5k of new money, with a maximum deposit of $500k.
The 9-month CD is also available as an IRA (Traditional, Roth, and SEP) earning the same APY with the same funding requirements..
According the Truth-in-Savings disclosure attached to the online application, the Early Withdrawal Penalty for CDs with terms of less than 23 months reads as follows:
The penalty is 6 months interest at the certificate
rate on the amount withdrawn, whether earned or not.
Headquartered in Conshohocken, Pennsylvania, Firstrust Bank’s market area includes southeast Pennsylvania and southern New Jersey.
Opening the 76ers Slam Dunk CD can be done online, or at any of 14 Pennsylvania branches located in Allentown, Ardmore, Bala-Cynwyd, Bryn Mawr, Conshohocken, Doylestown, Flourtown, Gladwyne, Horsham, Newtown, Philadelphia (5), and Southampton. Firstrust also has a single New Jersey branch, located in Marlton.
Firstrust Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 2.91% (excellent) based on September 30, 2017 data. In the past year, Firstrust has increased its total non-brokered deposits by $151.9 million, an excellent annual growth rate of 6.98%. Please refer to our financial overview of Firstrust Bank (FDIC Certificate #26647) for more details.
Firstrust Bank is currently the 14th largest bank in Pennsylvania, with assets in excess of $3.2 billion. Originally established in 1934 as the First Federal Savings and Loan Association of Philadelphia by Samuel A. Green, Firstrust Bank is still a “family-owned bank,” with the third generation of the Green family still managing the Bank.
How the CD Compares
When compared to the other similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available within the Bank’s market area, Firstrust Bank’s 9-month CD APY currently ranks second.
The above rates are accurate as of 3/6/2018.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.