BANK’34 is a federally chartered savings association headquartered in Alamogordo, New Mexico.  BANK’34′s deposits are insured by the Federal Deposit Insurance Corporation. The bank has two bank branches, the main branch in Alamogordo and one in Las Cruces.  BANK’34 offers a whole host of services that have competitive rates. 

Alamogordo Financial Corp. is the parent corporation for BANK’34.  The bank has been FDIC insured since November 2, 1934.  BANK’34 is chartered as a Savings Association, therefore the primary regulator is the Office of Thrift Supervision.  As of September 2008 the bank had total assets of $148,731,000.  Through September 2008, the bank had net operating income of $327,000.

The bank offers consumer deposit products that include; regular checking, interest bearing checking, senior checking, money market accounts, direct deposit accounts, regular savings, children’s savings, regular certificates of deposit, add-to certificates of deposit, one-time bump certificates of deposit, and Individual Retirement Accounts.  The bank also offers consumer lending products that include; consumer secured and unsecured loans, auto loans both new and used, home equity loans, home improvement loans, savings secured loans, mobile home loans, recreational vehicle loans, motorcycle and ATV loans, and even purchase money retail contracts for furniture, appliances and computers.

The bank is now promoting the following CD rates:

3 month CD interest rate of 1.66% APY
6 month CD rate of 1.86% APY
1 year add on CD rate 2.70% APY
18 month CD earns an interest rate of 2.13% APY
2 year CD rate of 2.30% APY
2 year “take it easy” CD yields a rate of 3.10% APY
36 month bump up CD rate of 2.40% APY
3 year CD which has an interest rate of 2.56% APY
4 year CD has an interest rate of 2.69% APY
5 year CD rate of 3.01% APY

Deposits may not be made to the bank CDs during the term, except for the 12 month “Add-To” CD.  Deposits may be made to the “Add-To” CD with minimum amounts of $50.00.

CD rates are subject to change without notice and other conditions may apply to open these bank CDs.  The latest CD rates and additional savings accounts information can be obtained by contacting the bank at 888.702.5266.  The bank website also contains account information and up to date bank CD rates, the web site is located at www.bank34online.com.

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