Limelight Bank

Deposits held and insured by Capital Community Bank (CCBank)

Overview / Commentary
800-639-6015
3280 N. University Avenue
Provo, UT 84604
Deposits held and insured by Capital Community Bank (CCBank)

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.

Terrible Customer Service

Posted by: |

I am in England now and don't have my paperwork as to a CD I have with Limelight Bank. I have phoned the Limelight number in Utah REPEATEDLY to get this information, but all I get is a phone message saying the bank is experiencing a high volume of customer requests and that I should leave a phone message. That unhelpful message is followed by a message saying that the mailbox is full and can take no more messages. What kind of customer service is this? I would never bank with Limelight again and would not recommend the bank to anyone. Put your money elsewhere. If I ever get access to my funds again, believe me, they will go elsewhere.

Not The Best Experience Signing Up

Posted by: |

So I signed up for a CD and they removed the money from my account. After not hearing about login info for weeks, I tried to call them. No answer to their customer service number on multiple occasions. Here is a tip, if customer service does not answer, call their parent bacn CCBank. They answered immediately and helped me very professionally. It turns out they send out documents to be signed and they go out from a company called Smartsign. my spam filter deleted it. I'm not surprised because it looks like it could easily be a phishing attempt (but it's not). So just be aware of that.

Unusual Sign Up Process

Posted by: |

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.

Good Rate, But SLOW

Posted by: |

Recently opened a 12-month CD based on their quite high interest rates. While I'm very happy with the rate, the account opening process has been unacceptably slow relative to competitors. Money was debited out of my source account a couple days before the certificate with issued with an account number, and I've now been waiting an additional 3+ days for my enrollment in online banking to be processed. Some of the delay may be due to the recent Labor Day holiday, but I'm not very happy in any case. None of my other accounts have taken this long to open...

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Health
A

Data as of Q4 2023

Data displayed below is for insuring bank: Capital Community Bank (CCBank)
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Health Grade Components

Overall
FDIC Certificate #33823
Year Established1993
Employees126
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD3.41%
Return on Equity - YTD23.48%
Annual Interest Income$98.5MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$871.1MM$649.2MM
LoansQ4 2023vs Q4 2022$724.5MM$541.5MM
DepositsQ4 2023vs Q4 2022$732.5MM$499MM
Equity CapitalQ4 2023vs Q4 2022$127.3MM$100.4MM
Loan Loss AllowanceQ4 2023vs Q4 2022$16.9MM$12.7MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$13.4MM$8.7MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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Limelight Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.20%$1k$500k12 Month CD
4.75%$1k$500k18 Month CD
4.50%$1k$500k6 Month CD
4.05%$1k$500k36 Month CD
Locations

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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.