Attention: Cascade Bank is now Opus Bank. (OpusBank.com)
Opus Bank, based out of Redondo Beach, California, acquired Cascade Bank back in 2011 to obtain a more dominant west coast market share. After absorbing Cascade Bank’s Washington State business, Opus Bank now controls approximately $2.2 billion in assets, $1.3 billion in deposits, $1.3 billion of total loans. They also have 27 banking offices up and down the west coast and have some of the highest capital ratios in the western region of the United States.
Although this acquisition drastically expanded their presence and asset size, they are still just the 25th largest financial institution in California and not even within the top 250 financial institutions nationwide.
Opus Bank’s CD Rates:
(Rates accurate as of September 2012. Visit our CD rate center for updated APY’s from hundred of banks around the country.)
Opus Bank’s CD rates are quite underwhelming. They have only one “special CD rate” as opposed to the 3-5 offered through Cascade Bank. Today their ‘special CD’ is a 15 month bump-up CD featuring an interest rate of just 0.70% APY. A bump up CD simply means that if interest rates rise during the life of the CD, the interest on this product will also rise accordingly (even though CDs are traditionally ‘fixed-rate’ products). We dont expect this to mean much given the fact that the FED has stated 2014 as the year in which they will even consider raising rates again.
- Cascade Bank’s Archived Offer -
Cascade Bank, based out of Washington state, has a few noteworthy CD rate promotions for 6 month and 12 month terms. Other than those promotions their savings rates are somewhat lackluster – in fact, most sit significantly below the national average.
Cascade Bank has branches throughout the Pacific Northwest and can accept local funds. They were chartered in 1916, and are the oldest financial institution headquartered in Snohomish County, Washington.
CD Rates and Promotions offered through Cascade Bank:
- 3 month CD yielding 0.10% APY and 0.30% APY depending on deposit amount.
- 6 month CD SPECIAL yielding 1.00% APY and 1.25% APY depending on deposit amount.
- 9 month CD yielding 0.25% APY and 0.50% APY depending on deposit amount.
- 12 month CD SPECIAL yielding 1.35% APY and 1.60% APY depending on deposit amount.
- 18 month CD yielding 1.15% APY and 1.40% APY depending on deposit amount.
- 24 month CD yielding 1.45% APY and 1.70% APY depending on deposit amount.
- 36 month CD yielding 1.75% APY and 2.00% APY depending on deposit amount.
- 5 year CD yielding 2.25% APY and 2.50% APY depending on deposit amount.
Like all bank rates, these are time sensitive in nature. Please refer to the date of this article for accuracy.