The day after Thanksgiving we find an Ad for Heritage Community Bank in Illinois promoting its one-year CD rate.  Heritage Community Bank is offering this one year CD rate at 4.05% APY.  In order to obtain this bank’s high CD rate; a minimum deposit of $2,000.00 is required.  Heritage community bank was founded in 1917 and has four locations throughout the Chicago land area.  In addition to those bank branch offices, one bank branch location is committed to loan operations.  The loan operations branch handles conventional mortgages, jumbo mortgages, new construction financing and mortgage refinances.  In the lending sector, the bank also offers commercial construction loans, working capital lines of credit, home equity lines of credit and home equity loans.

Heritage Community Bank offers a wide variety of checking accounts, savings accounts and Certificates of Deposit.  The following is sample of the bank current rates as of November 28, 2008.

 Money Market account: 1.65% APY with a balance of $25,000.00 or greater.
 Savings account: 3.25% APY with a balance of $25,000.00 or greater.
 3 Month CD interest rate of 1.69% and 1.70% APY.
 6 Month CD interest rate of 1.89% and 190% APY.
 9 Month CD interest rate of 2.23% and 2.25% APY.
 1 Year CD interest rate of 3.99% and 4.05% APY.
 18 Month CD interest rate of 4.18% and 4.25% APY.
 Two years or more CD interest rate of 4.18% and 4.25% APY.

The minimum deposit on the CDs is $2,000.00 with the exception of the 9-month and 19 month CD requiring a deposit of $25,000.00.

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