Colorado Federal Savings Bank

Colorado Federal Savings Bank Health & Statistics:

Currently, Colorado Federal Savings Bank controls roughly $1.04 in assets – with $391.89 million in loans, $665 million in deposits and $102.24 million in equity capital.

Profit Margin Break Down – Net interest margin of 2.18%. Return on Assets 0.60%. Return on equity 5.5%, with $10.75 million in interest income.

CD Rates offered through Colorado Federal Savings Bank:

(Rates accurate as of September 2011. Visit our CD rates center for updated APY’s from around the country.)

- 6 month CD yielding 0.95% APY with a minimum deposit of $5000 required.

- 12 month CD yielding 1.15% APY with a minimum deposit of $5000 required.

- 18 month CD yielding 1.20% APY with a minimum deposit of $5000 required.

- 24 month CD yielding 1.30% APY with a minimum deposit of $5000 required.

- 3 year CD yielding 1.60% APY with a minimum deposit of $5000 required.

- 5 year CD yielding 2.15% APY with a minimum deposit of $5000 required.

Terms and Conditions:

CFSB will only allow transfers to and from your original linked account. It is our policy not to change linked accounts. It is recommended you link a checking account that you intend to keep open.

An Online Certificate of Deposit offers a higher fixed interest rate for a specific term, for this single deposit account. This is a great choice for the depositor wishing to lock in a higher interest rate in exchange for accessibility of funds during the chosen term of the investment.

These accounts offer a variety of terms to choose from. This will allow the investor to pick from several terms with different maturity dates. The funds are not accessible (without a penalty) until the term has expired.

The account will automatically renew at maturity upon the expiration of the redemption grace period.

The minimum opening deposit is $5,000.00.
No monthly service fees.
Each depositor is FDIC insured to at least $250,000.

To start earning, simply complete an application online, fund your account and watch your money grow.

Early Withdrawal Penalty for withdrawals prior to maturity date, 3 months penalty on Certificate Term is one year or less and 6 months penalty for a certificate term over one year.

Like many small rural banks, Ultima Bank frequently offers “specials” or “promotional” savings account and CD features interest rates that are well above the national averages.

Ultima Bank of Minnesota CD Rates:

(Rates accurate as of July 2011. Visit Ultimabank.com for updated rates, terms and conditions.)

This week’s “Special Offers” from Ultima Bank:

- 12 month CD yielding 1.05% APY with a minimum deposit requirement of $1,000.

- 24 month CD yielding 1.35% APY with a minimum deposit requirement of $1,000.

UltimaBank uses the daily balance method to calculate the interest rate on your CD. They also impose a penalty for early withdrawal and your funds will automatically be reinvested into the CD if you don’t give them notice within 10 days of its maturity.

Currently, Metropolitan National Bank is offering anyone a 1 year CD with an APY of 1.35% and a minimum deposit requirement of just $1,000. Their interest rates are non-compounding (“simple interest”) and assume you will keep your deposit within the account until it matures. If you need the money before the term is up, an early withdrawal penalty will be imposed. Also, keep in mind that if you would like to collect your deposit with it’s accrued interest at the date of maturity you’ll probably want to let them know well in advance otherwise they will automatically roll it into another 1 year CD and you’ll get dinged for the early withdrawal.

Metropolitan National Bank CD Rates:

(rates accurate as of 2/2011)

- 3 month CD yielding 0.25% APY with a minimum deposit of $1,000 required.

- 6 month CD yielding 1.15% APY with a minimum deposit of $1,000 required.

- 12 month CD yielding 1.35% APY with a minimum deposit of $1,000 required.

- 18 month CD yielding 1.45% APY with a minimum deposit of $1,000 required.

- 2 year CD yielding 1.60% APY with a minimum deposit of $1,000 required.

- 3 year CD yielding 1.90% APY with a minimum deposit of $1,000 required.

- 4 year CD yielding 2.05% APY with a minimum deposit of $1,000 required.

- 5 year CD yielding 2.35% APY with a minimum deposit of $1,000 required.

If you have opened one of Metropolitan National Bank’s CDs before please share your experience by leaving a comment below!

Although their APRs are generally enticing, they seem to simultaneously receive a somewhat high rate of complaints online. The complaints usually stem from customer service (specifically – waiting time for mortgage and home loan closing, lack of customer service agents handling client demand, and frequent transfers of representatives). Here are two recent reviews from customers around the web:

Review #1 – Good Rating: “We refinanced our mortgage through Lending Tree.  It was so fast, so easy!  It was almost a little scary!  We filled out forms, faxed over some w2′s and other statements and before I could call for the status, our loan was approved!  Now that won’t happen in everyone’s case (depends on the credit history and score, of course)  but this was very easy.  I am confident we got a good rate too.” – Mortgage Refinance Customer

“I chose Lending Tree to refinance my house because of their catchy ad tag — “When lenders compete, you win.”  After the death of my husband, I wanted to combine my 30 year fixed-rate mortgage and my 10 year, interest-only balloon equity line into one fixed-rate mortgage.

Review #2 – Poor Rating: After submitting my basic application, I was contacted by Lending Tree and was surprised to be told that they no longer “shop” mortgages to other lenders.  The “specialist” who called me said she would be working with me from start to finish and assured me that this would work in my favor.  After reviewing the information on my house and my credit report, she also assured me that the refinance would go through without a hitch and she could start the paperwork as soon as I authorized a $600.00 credit card payment to Lending Tree.  This would become part of my closing costs.  The only way I would forfeit this money would be if my home appraisal came in too low.  I naively complied.

Well, guess what?  The appraiser sent out by Lending Tree valued my house almost $40,000 too low for the amount of money I need to borrow!  According to the Lending Tree specialist, this was based on sales of comparable homes on streets “near me” I have never heard of.  I have found homes like mine within 1/2 mile that sold for the price I need to show; but these were just internet or newspaper items, not the official MLS listings.  According to Lending Tree, I can appeal the appraisal if I – with no assistance from Lending Tree – can find MLS listings (from whom?) of three comparable homes that sold in the last six months for the price I say my home is worth.

Meanwhile, I have never seen the appraisal in writing, I’m out $600.00, and the sweet-sounding specialist has stopped returning my calls or responding to my e-mails.”- LendingTree Refinance Customer (Mortgage reviews found at ViewPoints.com)

Summary of LendingTree’s Mortgage Refinancing and Home Loan Process:

LendingTree.com is a free, no-obligation service which they claim “will empower you to take control of your financial life.” They have  interactive tools, personalized advice and comprehensive resources customers can use to manage their finances. If you’re looking for a loan, they can connect you with multiple lenders who’ll compete for your business and provide customized loan offers. If you need help with your finances, they have a suite of tools and personalized advice for users to budget their money, get out of debt, and boost their savings.

How does LendingTree.com make money?

Banks and Lenders pay LendingTree.com for the chance to compete for your business. And if you decide to take out a loan through LendingTree’s services, you’ll be responsible for paying any loan processing, closing costs or other fees to the lender you choose and LendingTree will be paid from the institution for sending them your business.

LendingTree Quick Facts:

- coverage in 50 states.

- Over 200 lenders competing against each other in real time with real offers.

About TD Bank:

TD Bank claims to be America’s most convenient bank (so much so that they’ve actually trademarked the term “America’s most convenient bank”). They are one of the 15 largest banks in the United States with $160 billion in assets, and provides customers with a full range of financial products and services at more than 1,100 retail stores throughout the Northeast, Mid-Atlantic, Metro D.C. and Florida.

Company History:

The company first opened its doors as Portland Savings Bank in Portland, Maine, in 1852, and later grew through a series of mergers and became Peoples Heritage Bank in 1983. At the turn of the millennium, the opportunity for growth presented itself again as Peoples Heritage Bank, through several acquisitions, expanded deeper into New England and took the name Banknorth.

Meanwhile, Cherry Hill, New Jersey-based Commerce Bank was turning Customers into Fans as America’s Most Convenient Bank. Founded in 1973, Commerce Bank expanded rapidly over the next 30 years into metro New York and Philadelphia, Washington D.C., and South Florida, winning new Customers with WOW! service and convenience.

In 2004, Banknorth caught the eye of TD Bank Financial Group of Toronto, Canada, a top 10 financial services company in North America. TD Bank Financial Group soon became Banknorth’s majority shareholder and the company became known as TD Banknorth. TD Bank Financial Group completed its purchase of TD Banknorth in 2007.

Looking to expand further in the U.S., TD Bank Financial Group acquired Commerce Bank on March 31, 2008, and the company rebranded as TD Bank, America’s Most Convenient Bank. TD Banknorth locations followed suit in September 2009, completing the merger of the two companies and uniting them under the TD Bank brand name.

Today, TD Bank, America’s Most Convenient Bank, remains focused on delivering award-winning Customer service and hassle-free products to Customers from Maine to Florida.

Current CD Rates offered by TD Bank:

Basic CD’s

- 9 month CD yielding 0.65% APY with a minimum deposit of $250 required. The current national average for 6 month CDs sits at roughly 0.78% APY (to put this offer in perspective).

- Other terms available, contact a local rep for current rates.

No Catch CD’s

- 6 month CD yielding 0.45% APY with a minimum deposit of $250 required and one penalty-free withdrawal allowed.

- 12 month CD yielding 0.40% APY with a minimum deposit of $250 required and one penalty-free withdrawal allowed.

Step Rate CD’s

- 3 year CD yielding 1.47% APY. Year 1 yields 0.90% APY, year 2 yeilds 1.24% APY and year 3 yields 2.24% APY.

- 5 year CD yielding 1.80% APY. Year 1 yields 0.75% APY, year 2 yeilds 1.00% APY, year 3 yields 1.74% APY, year 4 yields 2.23% APY and year 5 yields 3.20% APY.

* For the Step Rate CD the annual percentage yield is a Composite APY. The APY assumes each stated interest rate will be in effect for the length of time identified (one (1) year period).

TD Bank has locations in Connecticut, Washington D.C., New Jersey, New York, New Hampshire, Florida, Massachussetts, Maryland, Maine, Pennsylvania, Vermont and Virginia.

Also check out: TD Bank’s Checking Account Bonus

Opening an Allstate Bank Certificate of Deposit:

You may open a deposit account with Allstate using one of 4 different methods. You can open an account through participating “STAR” atm’s which accept deposits, you can transfer money electronically via ACH wire transfer, you can make a direct deposit using Allstate Bank’s ABA routing number or you can simply mail them a check.

Current CD rates offered through Allstate Bank:

- 30 day CD rate of 0.20% APY with minimum deposit of $1,000 required.

- 90 day CD rate of 0.40% APY with minimum deposit of $1,000 required.

- 6 month CD rate of 0.60% APY with minimum deposit of $1,000 required.

- 1 year CD rate of 1.10% APY with minimum deposit of $1,000 required.

- 2 year CD rate of 1.25% APY with minimum deposit of $1,000 required.

- 3 year CD rate of 1.60% APY with minimum deposit of $1,000 required.

- 5 year CD rate of 2.30% APY with minimum deposit of $1,000 required.

Additional Terms and Conditions:

Annual Percentage Yield (APY), effective on 6/7/2010. Initial deposit of $1,000 required for Certificates of Deposit ($10,000 for non-personal accounts). A penalty will be imposed for early withdrawal on CDs. Rates subject to change daily. Minimum monthly average daily balance of $250 required to avoid a $4 monthly fee on High Yield Savings. Minimum monthly average daily balance of $2,000 required to avoid an $11 monthly fee on Checking Plus Interest. Minimum monthly average daily balance of $250 required to avoid an $8 monthly fee on Insured Money Market accounts. Rates on Checking Plus Interest, Insured Money Market and High Yield Savings accounts subject to change daily after account is opened. Fees may reduce earnings on accounts.