New Resource Bank is a commercial bank based in San Francisco, California. New Resource Bank is an FDIC insured bank which offers broad banking services to personal, business and non-profit clients. The bank was established in 2006 to provide personalized services generally associated with community banking along with the convenience and security of a large bank.
New Resource Bank foundation has a bit of twist from standard banking objectives. One of the goals of the bank is to serve the rising interest among consumers and businesses in products and services with green values and resource sensitive interests.
New Resource Bank has taken a position of focusing on the needs of sustainably-minded businesses. The bank was set up by leading environmental entrepreneurs along with seasoned banking executives to accomplish this objective. New Resource Bank works on financing efficient and sustainable enterprises while establishing a high standard of customer service.
New Resource Bank takes a tailored style of banking to serve entrepreneurial clients and to develop new green lending solutions and bank credit products. Part of the banks focus is to also provide individual customers personalized service, attractive bank rates, banking convenience and a viable way to support their community through every day actions. New Resource Bank savings and investment products help customers easily and securely achieve financial objectives while providing capital for lending to the green community.
As an example of the New Resource Bank resource friendly products is the Solar CDs. These bank CDs have competitive California CD rates and are designed to raise funds that can be used for solar projects but provide funding that better matches the term lending for these projects.
Solar CDs are for deposits between $25,000 and $250,000. The California CD rates on this product are as follows:
One year CD rate is 1.41%
Two year CD rate is 1.82%
For standard bank CD interest rates and California CD rates, New Resource Bank offers the following CD terms for deposits in the amount of $2,500.00:
1 month CD has an interest rate of 0.15%
3 month CD earns a rate of 0.35%
6 month CD rate is 0.55%
One year CD rate is 1.31%
18 month CD has an interest rate of 1.51%
2 year CD rate is 1.71%
3 year CD yield is 1.82%
4 year CD has a rate of 2.17%
5 year CD rate is 2.28%
The banks CDs for the product are limited by funds dedicated to solar project lending. Solar CDs are automatically renewed upon maturity unless otherwise selected by depositor at the current California CD rate for that product. Early withdrawal penalties may apply.
Bank CD interest rates are subject to change; consult the bank directly for current California CD rates at 415-995-8100. Bank rates, CD rates and additional account information are also available on the bank web site which is located at www.newresourcebank.com.
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