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.

Good CD Experience With Limelight Bank

Posted by: |

Just opened 2 CDs with Limelight, and the process was easy and quick. The online application is fine, although there is no way to double check that both names on the joint accounts were accurately listed until we received the copy of the certificate of deposit a few days later. The customer service reps who answered our questions were responsive and competent.
Some of my "go to" banks for CD roll-overs have been pulling back on competitive rates, so I'm glad we gave Limelight a try with their 2.95% APY for 18-month CDs. We have not accessed our first statement yet, but thus far we are pleased with the process for opening new CD accounts.

Limelight is a great option for online CDs

Posted by: |

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

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.

Run, Don't Walk Away

Posted by: |

If your statements are important stay away from Limelight. Statements are NEVER available. Banks and CU's across the country provide their statements usually on the first of the month and for slow CU's by the second of the month. I've been unable to go on line and see or download a statement since MAY 2020. They just keep telling customers that statements are not available due to technical problems. Their overt attitude is that they really don't care and that they won't be available. They don't even have the courtesy to send emails to customers to explain about not having statements. THE WORST PLACE EVER TO SECURE YOUR MONEY!!!

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Health
B

Data as of Q2 2020

Data displayed below is for insuring bank: Capital Community Bank (CCBank)
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #33823
Year Established1993
Employees78
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.32%
Return on Equity - YTD11.48%
Annual Interest Income$14.9MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$466.5MM$474.4MM
LoansQ2 2020vs Q2 2019$363.0MM$358.2MM
DepositsQ2 2020vs Q2 2019$374.0MM$387.2MM
Equity CapitalQ2 2020vs Q2 2019$51.0MM$46.0MM
Loan Loss AllowanceQ2 2020vs Q2 2019$6.3MM$7.6MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$6.6MM$2.7MM
Real Estate OwnedQ2 2020vs Q2 2019$920.00K$1.1MM
Rates
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Limelight Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$1k-36 Month CD
0.70%$1k$500k18 Month CD
0.65%$1k$500k12 Month CD
0.55%$1k$500k6 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.