Dart Bank (MI) Adds Limited-Time 12-month CD Special
Dart Bank is ending the month with the addition of three CD Specials: 12-month (2.25% APY), 24-month (2.65% APY), and 36-month (2.85% APY). These limited-time CD Specials require new money, but according to the Certificates page, “may include OLD Money as long as NEW Money is at least 50% of the CD.” There is no stated balance cap.
The CD Specials offer APYs substantially greater than the Bank’s regular CDs, with rates between 99 and 139 bps higher.
As stated on the Certificates page, the Early Withdrawal Penalty reads as follows:
A penalty of $25.00 plus 90 days simple interest for any term up to and including twelve months.
A penalty of $25.00 plus 180 days simple interest for any term over twelve months.
Availability
Headquartered in Mason, Michigan, Dart Bank’s market area includes Clinton, Eaton, and Ingham Counties. Michigan’s capital, Lansing, is located in Ingham County.
Opening a CD Special can be done at any of the four Michigan branches, located in Delhi Township, Grand Ledge, Lansing, and Mason.
Dart Bank’s online platform, Dart Express Net, is currently limited to account management and bill payment services.
Bank Overview
Dart Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.72% (excellent) based on December 30, 2017 data. In the past year, Dart Bank has increased its total non-brokered deposits by $22 million, an excellent annual growth rate of 7.91%. Please refer to our financial overview of Dart Bank (FDIC Certificate # 5033) for more details.
Founded in 1925 as The Dart National Bank of Mason, the Bank bears the name of its founder, Rollin Charles Dart. Prior to 1925, it operated as R. C. Dart & Company, Bankers, a private bank. The Dart Bank re-brand occurred in 1998, although the Bank is frequently associated with the color pink.
There is something you need to know about this building into which we moved in 1937. At the time of moving, Lovicia Dart, wife of Rollin C. Dart, asked her husband if she could select the paint for the new headquarters. Rollin told her she could. Her favorite color was a soft buff. The paint was chosen and carefully applied, but for one reason or another, the paint, when applied, became what could be aptly called an “ice cream pink,” or “candy pink.” The color was much commented upon and that same shade of pink was maintained from then on, until the bank moved to the new building on Park Street, in 1969.
The constant associations of the Dart Bank with the color pink multiplied with the passing years. People living in other parts of the country who were not familiar with the bank’s name recalled “the pink bank on the courthouse square” from their travels. For whatever value the association with pink might or might not have, it became obvious that it was with us for keeps. The bank’s President, (Rollin B. Dart) therefore, launched the slogan, “Think Pink, Think Dart National” in the late 1950s. It is still in use, as “Think Pink, Think Dart Bank.”
How the CD Specials Compare
When compared to the 232 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available within the Bank’s market area, Dart Bank’s 12-month CD Special APY currently shares the top spot with CDs from MidFirst Direct and Banco do Brasil Americas.
When compared to the 224 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available within the Bank’s market area, Dart Bank’s 24-month CD Special APY currently ranks second.
When compared to the 225 similar length-of-term CDs tracked by DepositAccounts.com that require a similar deposit and are available within the Bank’s market area, Dart Bank’s 36-month CD Special APY currently ranks second.
The above rates are accurate as of 4/30/2018.
To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.
