| Deposits FDIC Insured | Yes |
| Insured Bank | CFG Community Bank |
| FDIC Certificate # | 34294 |
| Date Established | 1997 |
| Assets | $3.21 billion |
| Loans | $3.21 billion |
| Deposits | $3.66 billion |
| Capital | $0.35 billion |
For a more detailed analysis of CFG Community Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Yield Money Market
|
5.02% | $1,000 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12-Month CD
|
5.15% | $500 | - |
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|
| 18-Month CD
|
5.00% | $500 | - |
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|
| 36 Month Online CD
|
4.60% | $500 | - |
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|
| 5-Year CD
|
4.50% | $500 | - |
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|
CFG Bank has lowered its money market rate for balances over $25,000 from 2.30% to 2.25% APY. The rate remains the best online savings or money market rate nationally available in the US. You may however find higher rates at banks and credit unions near you.
CFG Bank has also slightly lowered all of its CD offerings. Its 12-month, 18-month and 60-month offerings now stand at 2.15% APY, 2.33% APY and 2.60% APY, respectively.
CFG has lowered its money market accounts rate to 2.05% APY from 2.15% APY. The account requires a $25,000 minimum, and only permits daily withdrawals up to $5,000 (and monhtly withdrawals up to $30,000).
CFG has lowered its online savings rate by 5 basis points which is just enough so that it is no longer the highest nationally-available online savings rate in the country.
CFG has raised its online savings rate from 0.63 to 0.70% APY, making it one of only about 5 or 6 banks to over over 0.70%.
Its 13-month No Penalty CD rate was also raised to 0.80% APY. See all No Penalty and special term CD rates here.
CFG Bank has raised its online money market rate to 4.25% APY. This move places it within 10 basis points of My Savings Direct, the current savings and money market rate leader.
CFG Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.
Customer Reviews for CFG Bank (49)
YTR
March 27, 2023 |
CFG is an outstanding bank, and now rate is over 5%!
Is this review helpful? Yes:0 / No: 0
Tom154
February 28, 2023 |
I have tried to reach this bank due to my application did not go through by calling them and leaving messages for three days. No one will answer the phone or call me back. I am very disappointed after giving them all my personal information.
Is this review helpful? Yes:11 / No: 0
AnneC
February 23, 2023 |
I've read all the reviews and been a depositor for many years. I do not live in Maryland and have never had a problem interfacing with them through the website or by phone. I would describe changing products as a nuisance (but not a problem) as you need to call and send documents to switch from say savings to CD to No Penalty CD back to savings. (Marcus and Ally are the gold standard here, CIT is worse). Politically, I am not a fan of the bank's focus on cannabis banking. Otherwise, I have been a very happy customer.
Is this review helpful? Yes:4 / No: 0
rffleck
January 11, 2023
Applied online for CD Jan 2023. 2 days later still no contact. Called 45 min for rep. Rep said process takes 10-14 days no interest until funded.
Is this review helpful? Yes:6 / No: 0
Jeff76
December 21, 2022 |
Have been a depositor for several years and have had nothing but positive experiences.
Is this review helpful? Yes:0 / No: 0
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