American Federal Savings Bank (Montana) recently added a 50-month Certificate Special (2.02 APY), but this Certificate Special has a short life, with the offering expiring on August 26, 2014. The minimum deposit to open is $1K, with interest compounded daily on every account dollar, including the minimum balance requirement.
The Early Withdrawal Penalty (EWP) is six months of interest, and if the account is closed within the first 90 days, there is an additional penalty. According to a helpful CSR, there is a medical emergency exception concerning EWP that is determined by on a case-by-case basis.
This 50-month Certificate Special is only available to residents of Montana, and requires a visit to one of American Federal Savings Bank's 13 branches located in Big Timber, Bozeman, Bozeman, Butte, Hamilton, Helena, Livingston, Missoula, and Townsend.
Once your account is established, you can manage it through American Federal Savings Bank's online banking feature. Your online banking account can be set-up through bank's secure website.
American Federal Savings Bank, has an overall health rating of A at DepositAccounts.com, with a Texas Ratio of 1.99% (excellent) as of March 31, 2014. American Federal Savings Bank's total deposits increased by $16.52 Million in the past year, resulting in a 3.91% growth rate. Please refer to our financial overview of American Federal Savings Bank for more details.
American Federal Savings Bank was founded in 1922 (FDIC Certificate #30182) as the American Building and Loan Association (ABLA) in Helena, Montana. For 50 years, construction and loans to its members were ABLA's main focus. In the late 1970s, ABLA began to branch out and opened offices throughout Montana. American Federal Savings Bank was established by changing to a Federal Thrift Charter to better serve its customers.
In the Fall of 2014, American Federal Savings Bank (with assets of over $513 Million) will become a state chartered commercial bank, and will be doing business under a new name: Opportunity Bank of Montana.
How the Rate Compares
When compared to similar-length CDs available to Montana residents, American Federal Savings Bank leads the list:
- 50-month CD 2.02% APY American Federal Savings Bank
- 48-month CD 1.50% APY INOVA Federal Credit Union
- 48-month CD 1.16% APY Montana Credit Union
The above rates are accurate as of 8/15/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.