3.50% 36-Month CD & 3.25% 24-Month CD at Town Center Bank in Illinois - Local Only

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Town Center Bank has some competitive rates for its mid-term and long-term CDs. These include a 3.25% APY 24-month CD and a 3.50% APY for terms of 36, 48 and 60 months. Minimum deposit is $2,000. These rates are listed in the bank's rate table as of 3/17/09.

When I last check with this bank in December 2007, I was told a branch visit is required to open an account. Branches are located in Frankfort and New Lenox, Illinois which are just south of Chicago.

The bank has fair ratings for safety and soundness: 3 stars (adequate) at BauerFinancial (based on 12/31/08 data) and 3 stars (performing) at Bankrate.com (based on 9/30/08 data). The bank has been FDIC insured since 2006 (Certificate # 58214).

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Comments
5.45% 5-Month CD at an Illinois Bank (Town Center).
Town Center Bank is offering a special 5.45% APY 5-month certificate of deposit. The minimum deposit is $10,000, and the maximum is $100,000. The special is mentioned on the bank's home page, but since there are no details, I called the bank today. I was told that it's scheduled to end this Friday (12/7/07) at the end of the day. It requires that you open a checking account. The Free Interest Checking qualifies. It requires a $100 minimum to open, and it has no monthly fees.

According to the banking rep,...

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5.75% 6-Month CD at an Illinois Bank (Town Center Bank) - Update
Town Center Bank is still offering a 5.75% APY 6-month certificate of deposit special. I had first reported on this in November. According to the website, this offer is being extended to at least January 7, 2007. The minimum is $2,000, and it requires opening a checking account. When I contacted the bank in November, I was told by the CSR that both the CD and the checking account can be opened by mail even by those who live in other states.

Branches are located in Frankfort and New Lenox, Illinois...

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5.75% 6-Month CD at an Illinois Bank (Town Center Bank)
Town Center Bank is offering a 5.75% APY 6-month certificate of deposit special. The minimum is $2,000, and it requires opening a checking account. I was told by the CSR that both the CD and the checking account can be opened by mail even by those who live in other states.

Branches are located in Frankfort and New Lenox, Illinois which is just south of Chicago.

It's a newly established bank that has just been FDIC insured since September, 2006.



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