Limelight Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.85% | 1-year CD | 2.75% - Barclays 12 Month Online CD |
| 2.95% | 18-month CD | 1.60% - National Average |
| 2.35% | 6-month CD | 0.88% - National Average |
Limelight Bank is a new nationwide, online bank that Capital Community Bank (CCBank) launched in 2017. The Utah-based community bank has positioned Limelight as an eco-friendly alternative to traditional banking. Of course, all online banks are going to be “greener” than traditional, brick and mortar banks, as there is a reduced amount of paperwork involved, but Limelight takes it a step further by stating that “a portion of deposited funds will go towards solar energy initiatives.”
It will come as no surprise to those familiar with internet banks that Limelight offers very competitive rates; however, the product selection is limited. At launch, Limelight is offering only short-term CDs, with terms ranging from 6 to 18 months, but it will be worth watching to see if they expand their product offerings in the future.
While Limelight has been branded as new online bank, it’s worth noting that (at launch) they are not offering their own mobile app. Mobile banking is done through their parent company’s app.
Accounts at Limelight can be opened through the online application found on their website. Customers then have the option to fund their account(s) through electronic funds transfer (EFT), wire transfer, or check. Deposits in Limelight Bank are FDIC-insured under Capital Community Bank.
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Best Rates And Solid, Fast Customer Service
Been with them almost a year - my first CD is about to rollover. Not one single complaint. I've opened a new CD roughly every month, and the interest rates just keep going up. Best interest rates I've found. And the customer service is fast, friendly and on point.
Limelight is a great option for online CDs
I have an 18 month CD with Limelight Bank. They got my attention because they say they are eco-friendly, and they contribute to funding solar projects. I love the fact that I can get a banking product I need while also contributing to the future of the planet. Their customer service was also very good, I never had a problem setting up my account and never really had any questions. Because it is an online bank, they obviously put a lot of of effort into a good web experience. When I created my account it was quick and easy, and I was able to purchase a $2,000 CD without any assistance. I also use their iPhone app which is very good. I will be using Limelight in the future if I choose to get another CD.
Unusual Sign Up Process
Signed up, used ACH to transfer funds. No notice of fund's receipt, had to call CSR to confirm.
Had to wait two additional days after fund's receipt for verification. Most banks I use allow immediate access when an ACH transaction has been completed. CSR claims it is for my protection, which I do not buy.
Basically for at least four business days, there is no confirmation of funds transfer and receipt. Which is not comforting.
If I have to do it all over again, I will not use this bank. I totally disagree with their policy.
Received My Money A Moth After My CD Expired
I did not have a good experience with Limelight Bank. It took me almost a month, endless phone calls and anxiety attacks to get my check back after my CD expired. I intended to invest the same money in other assets but because of this delay I wasn't able to and ended up losing more money than what I made with the CD. I also did not receive any interest back for the days I did not had access to my money. What caught my attention was the fact no one knew where the check was. It was a 10K check and it was sent with no tracking number????? The customer service was also mediocre. I would call, and they'd promise to give me a call with a solution but they never did, I had to call multiple times until finally, they decided to send a new check via an overnight carrier. Received on the next day. I won't be using this bank anymore and hope this review can improve the way you deal with this type of situation.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33823 |
| Year Established | 1993 |
| Employees | 67 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 9.57% |
| Annual Interest Income | $20.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $420.2MM$359.9MM |
| Loans | Q4 2018vs Q4 2017 | $348.7MM$303.8MM |
| Deposits | Q4 2018vs Q4 2017 | $334.6MM$307.5MM |
| Equity Capital | Q4 2018vs Q4 2017 | $43.3MM$38.7MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $3.3MM$3.4MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $1.4MM$484.00K |
| Real Estate Owned | Q4 2018vs Q4 2017 | $1.1MM$1.5MM |
Always verify rates and promotions with the bank or credit union. We are not Limelight Bank; we are a rate comparison website and cannot provide official rates or promotions.
Limelight Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.95% | $1k | $500k | 18-Month CD | |
| 2.85% | $1k | $500k | 12-Month CD | |
| 2.35% | $1k | $500k | 6-Month CD |
Limelight Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 3280 N. University Avenue - Provo, UT 84604