Atlantic Coast Bank is offering a 24-Month CD that pays 2.4% APY. That's one of the best cd rates on the BestCashCow 24-month rate table. The minimum balance to open is only $100.

Atlantic Coast Bank is federally chartered mutual thrift with 12 branches in Florida and Georgia. As of June 30, 2009, the bank had $985 million in assets and $632 in deposits.

Opening and Funding a CD

CDs can be opened online and according to the CSR are nationally available. Once the application is done, the signature card can be printed out and mailed back. The rate locks once the account is approved. This generally happens after the app is submitted. Funding can be done via a check or electronic ACH from another online account.

Safety and Soundness

Atlantic Coast Bank is FDIC insured. Bauer Financial gives it 2 out of 5 stars (Problematic) for its safety and soundness. As always, be sure to stay below FDIC insurance limits when depositing money.

• Compare 24-month CD rates

Please share any questions or experiences with Atlantic Coast Bank below.

Aurora Bank is offering a 2.45% APY 2-year CD. That's one of the highest 2-year CD rates according to the BestCashCow rate tables. Aurora Bank was formally known as Lehman Brothers Bank and after its parent firm's bankruptcy changed its name to Aurora. The bank did not go bankrupt with its parent.

Aurora is headquartered in Wilmington, DE, has $5 billion in assets and provides loan servicing to 400,000 customers.

Opening and Funding a CD

Applications to open a CD can be done online. Once the application is submitted, the rate is locked for 10 business days. A welcome kit is also sent that includes a signuture card and a deposit slip. Funding can be done via this deposit slip or by wire transfer.

Aurora Bank Safety and Soundness

Aurora Bank is ranked 0 out of 5 stars (the lowest rating available) for its safety and soundess. According to the Office of Thrift Supervision, the bank lost $75 million in the quarter ending July 30 ,2009. It's appears that the bank's mortgage servicing and investing has taken a hit, like many of its peer banks. The increase in cd rates may be an attempt to maintain its deposit base. We saw the same behavior with Indymac, Wamu, Wachovia, etc. before they were purchased or taken over.

For those that decide they want the rate, Aurora is FDIC insured (FDIC Cert: 30890) and has been since 1958. As long as you don't invest above FDIC limits, your money is safe. But there have been instances when a bank is seized by the FDIC that the rate on a CD is not honored by the acquiring institution. The new institution is not under any obligation to do so. That is the risk in investing in a bank that my be impaired.

• Compare 24-month CD rates.

International Bank of Chicago is a Chicago-based FDIC-insured bank catering to Chicago's diverse ethnic groups. The bank is rated 4 stars (solid) by Bauer Financial.

The bank currently offers a 2 year CD at 2.50% open to residents of all US states. The rate is the highest 2 year CD rate on BestCashCow.com's rate tables.