Deal Summary: 14-month Winter CD Special (1.50% APY, $100k; 1.40% APY, $1k)
In anticipation of Valentine’s Day, VisionBank is promoting a 14-month Winter CD Special with “Rates You’ll Love” - 1.50% APY, with a minimum deposit of $100k, and 1.40% APY, with a $1k minimum deposit.
|1.50*%||$100k||-||VisionBank (IA)||14 Month CD Special-branch only|
|1.50*%||$100k||-||VisionBank (IA)||14 Month IRA Special-branch only|
The 14-month Winter CD Special is also available as an IRA (Traditional), earning the same APYs with the same funding requirements.
According to CSR, the Early Withdrawal Penalty is 6 months of interest.
Headquartered in Ames, Iowa, VisionBank of Iowa’s market area is primarily the central Iowa counties of Ames and Boone. I say "primarily" because of the following statement, located at the bottom of the Bank’s CD Special page.
Rates not applicable to Public Funds, Institutional and Out of State depositors without a primary checking relationship.
When I asked for clarification on that statement, CSR stated that VisionBank will, "gladly open out-of-state accounts, but the account must be opened in person."
Opening the 14-month CD Special can be done at any of eight Iowa branches located in Ames (3), Boone (2), Grimes, Huxley, and Ogden.
VisionBank (FDIC Certificate # 11763) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 10.22% (excellent) based on September 30, 2016 data. In the past year, VisionBank has increased its total non-brokered deposits by $25.16 million, an excellent annual growth rate of 7.99%. Please refer to our financial overview of VisionBank for more details.
VisionBank has a 133-year history of serving central Iowa, having been established in 1884 as the City State Bank. In the three years between 2009 and 2012, the Bank acquired three Iowa banks and changed its name twice. Owned by the locally-owned VisionBankshares, Inc., VisionBank actively participates in the community by donating time and money to the local Habit for Humanity organization.
How the CDs Compare
When compared to the 264 similar length-of-term CDs tracked by DepositAccounts.com that are available within the Bank’s market area, VisionBank’s 14-month CD Special APY currently shares the top spot with Bankers Trust Company’s 7-27 Month CD Promo, regardless of minimum deposit.
|Interest Rate||CD Length of Term||Credit Union/Bank|
|1.50% APY||14-Month CD Special ($100k min)||VisionBank|
|1.41% APY||1-Year Share Certificate ($5k min)||Melrose Credit Union|
|1.40% APY||14-Month CD Special ($1k min)||VisionBank|
|1.38% APY||12-Month CD Special||Connexus Federal Credit Union|
The above rates are accurate as of 2/1/2017.