Merged/Acquired

Luther Burbank Savings


Overview / Commentary
707-578-9216
500 Third Street
Santa Rosa, CA 95401

Luther Burbank Savings is no longer doing business under that name because it has been merged or acquired. See the successor institution WaFd Bank.

Related Posts

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8/18/18 - Luther Burbank Savings Offers 18-Month Step Up CD
7/26/18 - Luther Burbank Savings Offers 36-Month CD Nationwide
7/20/18 - 2.40% 12 Mo, 2.85% 24 Mo, 3% 36 Mo Cds
7/15/18 - Luther Burbank Savings 1-Year, 2-Year And 3-Year CD Specials - Socal
5/13/18 - Luther Burbank Savings Offering 24-Month CD At 2.75% APY, 36-Month At 3.0% APY
3/25/18 - Luther Burbank Savings 13-Month CD Special - Socal
10/23/17 - Luther Burbank Savings 3-Month And 3-Year CD Specials - Socal
7/6/16 - Luther Burbank Savings (CA) Offers Savings And Checking Combo
7/4/16 - Luther Burbank Savings Offering 1.40% APY Liquid Savings, High Minimum
8/13/15 - Luther Burbank Savings (CA) Offers 2 Competitive CD Specials
7/24/15 - Special CD and Money Market Savings
5/5/15 - Luther Burbank Savings Offering 60-Month CD At 2.0% APY
6/20/14 - Hot 30-Month CD Special at Luther Burbank Savings in California
6/19/14 - 2.0% APY 30-Month (2 1/2 Years) CD
10/4/13 - 3-Year CD Special at Luther Burbank Savings in SoCal - Local Only
12/10/11 - Bank Donates Foreclosed Home To Homeless Agency
11/5/10 - Special 10-Month CD at Luther Burbank Savings Bank in Beverly Hills, CA - Local Only
11/3/10 - 1.5% APY 10-Month CD At Luther Burbank Savings In Beverly Hills, CA
5/28/10 - 5-Month CD Special at Luther Burbank Savings in Beverly Hills, CA - Local Only
6/8/09 - 2.50% 6-Month CD at Luther Burbank Savings in California - Local Only
10/28/08 - 4.25% CD for Terms of 3 to 6 Months at Luther Burbank Savings
3/1/08 - 4.30% 3-Month CD at a California Bank (Luther Burbank Savings).
2/14/07 - 5.50% 6-Month CD at a California Bank (Luther Burbank Savings)

Reviews (6)

Great Job!

Posted by: |

Thank you so much.


Easy to work with!

Great Local Thrift Bank

They offer many promotions that are not advertised that are competitive with Internet only banks. They have always provided us great customer service and the recent online and mobile upgrades are top notch. There are very few Thrift Banks left, Savings and Loan Associations, but Luther Burbank Savings has been a model bank in our area. We have our joint checking, savings and CDs with them. They have almost no fees, free checking and even reimburse all ATM fees from other banks. While they aren't a commercial bank, they don't offer car loans, credit cards, deposit boxes or even ATMs machines, they are a great at what they do offer, deposit accounts. 5 star experience. Go local!

Customer Service And CD Offerings

Posted by: |

I've invested in CDs with Luther Burbank for about 5 years now and have never had a problem.  Everyone in the offices I've visited is professional, knowledgeable and pleasant.   I would not hesitate to do business with Luther Burbank banks again.

This Bank Will Become "Wafd" On March 1, 2024

After a long process, the acquisition of Luther Burbank Savings by WaFd Bank* has been approved by the FDIC. According to materials I have received, the changeover will occur on 3/1/24. Current LBS customers have received a 46-page booklet that tells them what they need to know, and do, for the transition. Pay attention to the fine print.
There is still no monthly fee for "free checking," but this account will no longer yield interest. On the other hand, if you happen to have "LBS High End Checking," this will convert to WaFd's "Stellar Plus Checking" which does yield interest, but requires a monthly fee. You have to keep rather high balances in the account (or in "related deposit accounts") to avoid all fees. See page 2 of the booklet.

I had the LBS "high end checking." My balance in the account varied and I did/do not usually have enough money the account to avoid the fees under the new regime. I called LBS and they were able to convert this over the phone to the "Free Checking" option. So, I will not get the little bit of interest each month, but neither will I have to pay a monthly fee.

It is sad to see this formerly local bank become part of another entity.
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*Yes, there actually is a bank named WaFd. Its home base is Seattle.

Commercial Lending Nightmare

I paid four thousand dollars to get two commercial loans from the Bellevue Office.  They went silent.  Luckily, a couple of weeks into it, I spent a little less for Chase to process the loans.  They came through w/ great servcie.  I've followed up twice w/ no answer.  I'll be filing in court soon.

Customer Service

Posted by: |

I had a bad experience with this financial institution. I don't find ANY of there bankers or tellers to be particularly friendly or helpful, in fact quite the opposite. I intend to remove all of my funds and my husband will do the same. I will direct my friends and family to a truly friendly, local institution such as Community First Credit Union. These people know how to treat others with dignity and respect.



Health

We do not have health information for Luther Burbank Savings, because it is no longer an operational bank.

Rates

Sorry, we do not have rate data for Luther Burbank Savings.

Locations

Sorry, but we do not have location data for Luther Burbank Savings. Its headquarters is located at 500 Third Street - Santa Rosa, CA 95401

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