Earlier this month, Forward Financial Bank raised the rate on its 4-year CD (2.05% APY). This is the highest rate in more four years for the 4-year CD. During that time, there have been 13 rate changes, with APYs ranging from a low of 0.89% (October 2010) to the current high of 2.05%.
The minimum deposit to earn the 2.05% APY is $25K, with no balance cap. There are lower APYs for smaller deposits: $500+ (1.23% APY) and $10K (2.00% APY).
According to CSR, the Early Withdrawal Penalty is "one year’s dividends."
With branches in five central Wisconsin Counties (Chippewa, Clark, Marathon, Taylor, and Wood), Forward Financial Bank offers its product line to all U.S. Citizens and Resident Aliens residing in Wisconsin.
While several accounts, including checking, savings, and money market accounts, can be opened online, opening a CD requires an in-person visit to any of eight Wisconsin branches located in Colby, Greenwood, Marshfield (2), Medford, Stanley, Thorp, and Withee.
Forward Financial Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 4.56% (excellent) based on data as of March 31, 2015. In the past year, Forward Financial Bank increased its total deposits by $4.28 Million, an above average annual growth rate of 1.69%. Please refer to our financial overview of Forward Financial Bank for more details.
Forward Financial Bank (FDIC Certificate # 28530) was originally established in 1919 as the Marshfield Savings and Loan Association. After 73 years of helping customers build or buy houses, the institution changed organization type and became the Marshfield Savings Bank in 1993. Following the acquisition of the State Bank of Withee (2008) and the Community Bank of Central Wisconsin (2013), the name was changed to Forward Financial Bank.
How the CD Compares
When compared to the 295 similar length-of-term CDs tracked by DepositAccounts.com available to Wisconsin residents, Forward Financial Savings Bank’s 4-Year CD ranks second, regardless of minimum deposit requirement.
The above rates are accurate as of 7/28/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.