3.30% 36-Month CD & 2.02% 5-Month CD at Mt. Washington Bank in MA - Local Only


Mt. Washington Bank is offering two competitive CD specials: a 3.30% APY 3-year CD and a 2.02% APY 5-month CD. Minimum deposit is $500. The 3-year CD is also available in an IRA. These rates are listed at the bank's rates page as of 5/29/09.

The bank is also offering a fairly competitive money market account. It's Preferred Money Market Account has a rate of 1.76% APY on balances over $2,500 as of 5/29/09.

At the top of the bank's rate table, it states that they accept deposits only from customers with a Massachusetts residence. Branches are located in South Boston, Dorchester and Jamaica Plain.

The bank's ratings for safety and soundness are a little weak: 2 stars (below peer group) at Bankrate.com and 3 stars (adequate) at BauerFinancial. Both ratings are based on 12/31/08 financial data. The bank has been FDIC insured since 1986 (FDIC Certificate # 26552). As a co-operative Massachusetts bank, deposits above the FDIC limits are insured privately by the Share Insurance Fund (see bank's page for more details).

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