Colorado Federal Savings Bank Reviews (24)

Rated 2.64 stars out of 5 - based on 11 reviews with ratings
  • Jul 1, 2022 |

    Online Savings Rates

    not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online bank. maybe some form of correspondent bank, but not online bank.
    Review on the Online bank

  • Mar 15, 2022 | | Replies 1

    Online CDs 11 Month Rates

    I like the No Penalty CDs at this bank. They are easy to work with and friendly! One hassle is that you need to keep the funding account open and as rates go up, they are more difficult to get in and out of than maybe Ally. But, with the rate above anything else available, it is still 5 stars.
    Review on the Online bank

    kay5 | May 17, 2022

    "one hassle" is right, baby. The No Penalty CDs here don't work at all in a rising rate environment vs. ALLY and MARCUS where it takes 2 seconds to get the higher rate on their website without transferring the money anywhere.

  • Mar 7, 2022 |

    Online Savings Rates

    Very pleased with the 0.82 No Penalty CD. I cannot get that anywhere on this list!
    Review on the Online bank

  • Jun 21, 2021 |

    Bad experiences with this bank and maturing CD's. I wanted the funds returned to my external bank and not rolled over into another CD. After several phone calls, and messages sent through their secure message center giving them instructions, they still rolled over the CD's! And at a terrible rate! It took 5 days to finally get my funds returned, costing me a week of investment income! I requested they wire the funds to my external bank to cover their mistake and they refused, saying a (three day) ACH was the best they would do. Why was I paying for their mistake? Or, is the shell-game one in which they look for the retiree to forget about a CD, allowing them to roll over at terrible rates? As a retiree, I live on these investments, and the loss of a weeks income is meaningful.

  • Dec 10, 2019 |

    Online CDs 12 Month Rates

    My CD matured and they sent the money back. I am not getting a new CD now since rates are too low. I just wanted to say that the people were absolutely wonderful to deal with.
    Review on the Online bank

  • Jul 1, 2019

    wherever this comptroller thing is in your state kick them out on the street after you take the comptroller thing and take them somewhere on the east coast where there are sharks in north Carolina water and the sharks will eat them if they don't stop ok and you will say see those sharks you will go in if you don't stop and trump said to do that to everybody

  • Nov 21, 2017 |

    Online CDs 12 Month Rates

    Good luck getting your money back if you mistakenly opened a 1 year CD here a year ago when their rates were at the top.
    Review on the Online bank

  • Apr 1, 2017 |

    Online CDs 12 Month Rates

    A decent place to put money in a 1-year CD at 1.35%, but the other products and rates are simply not competitive.
    Review on the Online bank

  • Feb 26, 2017 |

    Online CDs 12 Month Rates

    Hate the equifax questions at the end of the application process and the long delay in funding, but otherwise it has been fine.
    Review on the Online bank

  • Aug 12, 2016 | | Replies 1

    Online CDs 60 Month Rates

    They do not accept POD (Payable on Death) accounts; therefore, you cannot assign beneficiaries to the CD.
    Review on the Online bank

    cdinvesting1234 | Jun 23, 2022

    This bank has changed their policy to now include beneficiaries on accounts 6/23/2022. However, the beneficiary must be an individual, not a non-profit or trust.

  • Jul 6, 2016 |

    Online CDs 12 Month Rates

    Rates are falling. I cannot reach anyone by phone and cannot log on to my account as I don't remember the color of my first car. Disappointed.
    Review on the Online bank

  • Jul 6, 2016 |

    Online CDs 24 Month Rates

    Rates are great and service on the phone is OK, but the website is terrible.
    Review on the Online bank

  • Jun 4, 2016

    Can I open a cd on line? Thank you

  • May 16, 2016

    Online CDs 12 Month Rates

    Interest rate has changed to 1.30%. 05/16/2016
    Review on the Online bank

  • Apr 20, 2016

    Online CDs 12 Month Rates

    Sorry - to be clear - this one is a no brainer.
    Review on the Online bank

  • Apr 20, 2016

    Online CDs 12 Month Rates

    I am going to take issue with the reviews of Potter and Igor. There is a delay between signing up and getting the test deposits, and then another one between confirming the deposits and the money being drawn. Nevertheless, the CD comes due 1 year from the day you sign up and register to receive the test deposits, and you start earning interest the moment the money is drawn from your other account. Potter is dead wrong.
    Review on the Online bank

  • Apr 19, 2016

    Online CDs 12 Month Rates

    It is a poor interface, but helpful people on the other end of the phone. Frustrating, but probably worthwhile.
    Review on the Online bank

  • Apr 15, 2016

    Online CDs 12 Month Rates

    I have experience with this bank. The CD rates are great and the customer service is accessible, but they play the Ally Bank game. It takes a long time to get money moving. There is a 3 business day lag between the ACH draw on your outside, correspondent account and the account being set up, and then a 3 business day drag between maturity and being receive the ACH back. All in, you are going to lose about 2 weeks of interest and the real rate winds up being 10 or 15 basis points below what you think it is. After you factor in your tax rate, you aren't being compensated for your effort. I find the entire lag thing to be really questionable business practices, but unlike with Ally, it is disclosed here. Caveat emptor.
    Review on the Online bank

  • Apr 5, 2016

    Online CDs 12 Month Rates

    1.35% on a 1 year CD is a very compelling rate in this environment. Does anyone have any experience with these guys?
    Review on the Online bank

  • Dec 7, 2015

    How do I invest with your bank? I am interested in 18 mo. cd

  • May 26, 2015

    You advertised a l year CD rate of 1.35 but I can not find any information to invest. Warren N. Billings

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