They also offer Jumbo CDs that are available nationwide, but the current rates are not competitive with rates under 1%.
Branches are located in Scottsdale, Arizona, and in the following Minnesota cities: St. Cloud, Albany, Pine City, North Branch, Holdingford and Upsala.
The bank has three different FDIC charters with different ratings for safety and soundness. All have solid ratings:
- Stearns Bank Holdingford N.A. (FDIC Cert # 10160) 5 stars (highest) at Bankrate and BauerFinancial
- Stearns Bank Upsala N.A. (FDIC Cert # 9336) 5 stars (highest) at Bankrate and BauerFinancial
- Stearns Bank, N.A. (FDIC Cert # 10988) 4 stars (sound) at Bankrate and 3½ stars (good) at BauerFinancial
Other High Certificate of Deposit Rates
I'm sorry to have to report on 2% CDs, but for terms under one year, I'm afraid it's very competitive in today's interest rate environment. For example, the top rate at Bankrate for a 6-month CD is 1.76% APY, and for the 3-month CD the top rate is only 1.50% APY. Refer to the following links for other top CD rates: