Internet bank Colorado Federal Savings Bank (CFSB) has raised its rates on three of its CDs: 1-Year CD (1.10% APY), 2-Year CD (1.25% APY), and 3-Year CD (1.40% APY). The minimum deposit to open any of the three CDs is $5K and there is no maximum balance cap for earnings. In addition, Colorado Federal Savings Bank also offers a competitive Online Savings Account (0.85% APY) that requires a $2.5K minimum.
As an internet bank, Colorado Federal Savings Bank is able to offer all its Savings and CD products to all US citizens. In the past, CFSB's headquarters also provided a brick and mortar office for customers who banked locally. This has changed: all accounts can only be opened online, with all transactions also done online.
Colorado Federal Savings Bank has a B rating on DA with a Texas Ratio of 7.51% (excellent) as of March 31, 2014. CFSB has $1.63 Billion in assets with equity of $157.12 Million, which results in an above average capitalization level of 9.65%. Please refer to our financial overview of Colorado Federal Savings Bank for more details.
Established in 1990 and headquartered in Greenwood Village, CO (suburban Denver), Colorado Federal Savings Bank is insured by the FDIC (Certificate #33111).
How the Rate Compares
Each of these CDs compares quite favorably to similar nationally available products tracked by DA, with the 1-Year CD ranking 2nd, the 2-Year CD ranking 6th and the 3-Year CD ranking 5th. While not as impressive as the CDs, the Colorado Federal Savings Bank's Online Savings Account ranks a very respectable 14th.
The above rates are accurate as of 7/29/2014.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.