Irwin Union Bank Runs CD Promo with 4.85% Gains for 40-month Term and 4.55% for 25-month Term
Irwin Union Bank is running its Harvest CD specials which gains consumer very competitive yields of 4.25% APY for 15-month term, 4.55% APY for the 25-month program, and 4.85% APY for the 40-month promo. These offers will end on November 30, 2008.
The certificates require new money and a minimum deposit of $10000. The offer is available nationwide with consumers able to apply online and fund the account via ACH transfer.
Bank representative explain that an early withdrawal may incur a 6-month interest penalty. Interests are compounded on a quarterly basis with pay out options between monthly or quarterly. A written request is needed to close the CD.
The bank gives a 10-day grace period upon maturity of the account. It also allows ACH fund transfers if an account holder decides to close the CD.
If consumers opt to drop by the local branches, the bank has offices in Wisconsin, Utah, New Mexico, Nevada, Missouri, Michigan, Kentucky, Indiana, California, and Arizona.
The bank suffered some losses amounting to $54 million in Q3 with its home equity loan accounts. Investors of the bank have put in additional $37 million in capital to help the bank continue its operations.
The bank gets 3-star ratings from BauerFinancial and a 2-star rating from bankrate.com.
The bank is FDIC insured with certificate # 10100. It is part of the Irwin Financial Corporation.
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