Special 27-Month CD with Bump Feature at Olympia Federal Savings in Washington State - Local Only

Olympia Federal Savings continues to offer a nice 27-month CD special with a top rate of 2.22% APY. Minimum deposit is $50,000. Lower rates are available for smaller deposits: 2.07% APY for $25,000 and 1.97% APY for $5,000. The CD also has a one-time bump feature. These rates are listed in the bank's rates page as of the morning of 7/1/2010 (click on the "current rates" link on the left sidebar of bank's home page).

Credit for this find goes to Rav who posted this info in this forum thread. Unfortunately, the rates have gone down a bit since his forum post. Hopefully, the current rates will last for a while.

It appears that a branch visit is required to open an account. Branches are located in the Washington State cities of Olympia, Belfair, Lacey and Tumwater.

The bank's ratings for safety and sounness are strong: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our Olympia Federal Savings financial overview). These ratings are based on 3/31/10 data except for Bankrate which is based on 12/31/09 data. The bank has been a FDIC member since 1934 (FDIC Certificate # 28599).

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