Texas Exchange Bank 12-Month CD Earns Up To 3.00% APY

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Deal Summary: New Money CDs – 12-month (3.00% or 2.70% APY), 24-month (3.10% or 2.80% APY), APYs dependent on residency, $10k minimum deposit, new money.

Availability: Market area covers Texas through online application.

Texas Exchange Bank has just raised the rates on two of its New Money CDs – 12-month (3.00% or 2.70% APY), 24-month (3.10% or 2.80% APY). The minimum deposit for any the above rates is $10k of new money, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.10*%$10k-Texas Exchange Bank24 Month NEW MONEY CD
OTHER TIERS: 1.39% $1k - $10k
3.10*%$10k-Texas Exchange Bank24 Month NEW MONEY IRA (Traditional, Roth)
OTHER TIERS: 1.39% $1k - $10k
3.00*%$10k-Texas Exchange Bank12 Month NEW MONEY CD
OTHER TIERS: 1.18% $1k - $10k
3.00*%$10k-Texas Exchange Bank12 Month NEW MONEY IRA (Traditional, Roth)
OTHER TIERS: 1.18% $1k - $10k
Rates as of November 17, 2018.

Both CDs are offered as IRAs (Traditional and Roth), earning the same area-specific APYs with the same funding requirements.

Texas Exchange Bank’s website shows different rates for Texas geographical areas. Dallas and Fort Worth continue to have the higher rates for the featured CDs, with the Houston CDs currently offering APYs 30 bps lower.

What if you don’t live in one of the named areas? The Bank's outgoing phone message states, "If you’re calling about our CD rate specials, dial #4." According to the #4 CSR, if you do not live in one of the named areas, the default rate is the Fort Worth rate, as the Bank is headquartered in the Fort Worth area. When asked if the Fort Worth rate would be automatically applied during the online application process, CSR stated that after an online application is submitted, there is a follow-up call to confirm the details and the APY would be determined at that time.

According to CSR, the Early Withdrawal Penalty for the 12-month CD is 90 days interest and 180 days interest for the 24-month CD.

Availability

Headquartered in Crowley (suburban Fort Worth), Texas Exchange Bank’s footprint covers the entire state of Texas through its online application.

Opening a New Money CD can be done online, or at either of two Texas branches located in Crowley and Fort Worth. The New Account Application is also available for download and it can be returned by fax (817.870.9735) or mail.

Important: A CD can be funded through an ACH transfer, but CSR stated that if you want to fund via ACH, you have only one chance to do so: the last option on the online application asks if you want to "fund it now." You must click YES to fund via ACH. If you click NO, you have lost the ACH opportunity and must fund by check. As in life, there is no back-button.

Bank Overview

Texas Exchange Bank has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 0.00% (excellent and not a typo) based on June 30, 2018 data. In the past year, Texas Exchange Bank has increased its total non-brokered deposits by $51.57 million, an excellent annual growth rate of 16.24%. Please refer to our financial overview of Texas Exchange Bank, SSB (FDIC Certificate # 20099) for more details.

Texas Exchange Bank was established in 1970 as The Bank of Crowley and has been locally owned and opened for the past 48 years. The name was changed in 2008 in anticipation of an expansion that included a branch in Fort Worth (2010) and a loan production office in Houston (2011). Texas Exchange Bank is currently the 51st largest bank headquartered in Texas with assets in excess of $1.1 billion.

How the CD Specials Compare

When compared to 594 similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available to Texas residents, Texas Exchange Bank’s Dallas/Fort Worth 12-month New Money CD APY currently shares the top spot with Greenwood Credit Union’s 12-month CD APY.

Interest RateCD Length of TermCredit Union/Bank
3.00% APY12-Month New Money CD ($10k min)Texas Exchange Bank
2.89% APY12-Month CD ($500 min)Pelican State Credit Union
2.83% APY13-Month CD Special ($1k min)Navy Army Community Credit Union

When compared to 564 similar length-of-term CDs tracked by DepositAccounts.com, which require a minimum deposit of $10k or less and are available to Texas residents, Texas Exchange Bank’s Dallas/Fort Worth 24-month New Money CD APY currently ranks third.

Interest RateCD Length of TermCredit Union/Bank
3.20% APY24-Month Certificate ($5k min)Connexus Credit Union
3.15% APY24-Month CD ($1k min)Greenwood Credit Union
3.10% APY24-Month New Money CD ($10k min)Texas Exchange Bank

The above rates are accurate as of 11/10/2018.

Looking for the best CD rates, either nationwide and or in your state? Please refer to our CD Rates Table page.

Related Pages: Dallas CD rates, 1-year CD rates, 5-year CD rates

Comments
Texas Exchange Bank Offers 18-Month CD
Deal Summary: New Money CDs – 12-month (2.72% or 2.42% APY), 18-month (2.82% or 2.52% APY), 24-month (2.92% or 2.77% APY), depending on residency, $10k minimum deposit.

Availability: Market area covers Texas.

Texas Exchange Bank recently raised the rates on many of its New Money CDs, with different rates for different geographic areas. Of all the CDs in the product line, the 12-, 18- and 24-month CDs are the most competitive. The minimum deposit for any the above rates is $10k of new money, with no stated balance...

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Texas Exchange Bank Has 12-Month New Money CD
Deal Summary: 12-month New Money CD, 1.51%, 1.52% or 1.66% APY depending on residency, $10k minimum deposit.

Availability: Market area includes all of Texas.

Texas Exchange Bank, SSB (Texas Exchange Bank) ended the week by raising the rates on three of its New Money CDs, with different rates for three different areas. Of the three CDs, the 12- month is the most competitive. The minimum deposit for any the special rates is $10k of new money, with no stated balance cap.

    Dallas - 12-month (1.66% APY), 24-month (1.76% APY),...

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Texas Exchange Bank Has Special Rates On 12-, 18-, and 24-Month CDs
Availability: Market area includes all of Texas.

Texas Exchange Bank, SSB (Texas Exchange Bank) is offering three CDs with three “special” rates for three different areas. The minimum deposit for any the special rates is $10k, with no stated balance cap.

    Houston - 12-month (1.46% APY), 18-month (1.61% APY), and 24 month (1.69% APY)

    Dallas - 12-month (1.41% APY), 18-month (1.49% APY), and 24 month (1.56% APY)

    Fort Worth - 12-month (1.36% APY), 18-month (1.46% APY), and 24 month (1.56% APY)

All three CDs are offered as IRAs (Traditional), earning the same APYs...

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Bank Offers Higher Rates For "No Early Withdrawal" CDs - Worthwhile Benefit?

Unlike most of what I post, these CDs aren't noteworthy for the high rates. They're noteworthy because of an option that the bank is offering. Texas Exchange Bank is offering higher rates if customers choose the "No Early Withdrawal" option for its CDs. The bank is advertising this option on its website as of 11/06/2012. This is the first time I have seen a bank or credit union give this option.

Most of the time, banks and credit unions bury the early withdrawal policies in the account disclosures. Most...

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