High charges on financial savings and CD accounts with low minimal deposits

Summary: Accordia Bank is a Utah-based group financial institution previously referred to as CCBank (Capital Community Bank). The establishment dates to 1993 and lately rebranded as Accordia Bank. However, the rebrand didn’t change its possession, management, financial institution constitution, or FDIC protection. Accordia presents each private and enterprise banking. It operates bodily financial institution branches in Utah, however some deposit merchandise can be found nationwide on-line.

Accordia Bank client product overview 

Personal Checking

The checking account from Accordia Bank comes with no month-to-month charges. A minimal deposit of $25 is required to open an account; there’s a $5,000 minimal stability required to earn curiosity, which is at present 0.2% APY.

High-yield financial savings account (HYSA)

Accordia presents a high-yield financial savings account that at present earns 4% APY for all clients outdoors of Utah. That’s greater than 10 occasions increased than the national average rate for savings accounts. However, Utah residents have the chance to earn an excellent increased fee of 5% APY with the “Rebrand Boost” of 1% APY by means of January 31, 2027. A minimal opening deposit of $100 is required.

Money Market Account

Accordia’s cash market account requires a $1,000 minimal opening deposit and makes use of a tiered APY construction, that means bigger balances earn increased charges. The account additionally permits clients to maneuver funds by examine or digital switch and handle the account by means of 24/7 digital banking.

Health Savings Account (HSA)

Accordia’s HSA is a well being financial savings account designed to assist eligible clients save and pay for certified healthcare bills with tax benefits. There isn’t any month-to-month HSA administration price, and the account comes with a debit card plus cellular and net entry for managing the account. Once the HSA stability reaches $1,000, account holders have the flexibility to take a position their funds.

Certificates of deposit (CDs)

Accordia presents CDs with phrases starting from six months to 60 months, all with aggressive rates of interest as much as 4.3% APY. A minimal deposit of $1,000 is required to open an account. 

Loans:

Accordia Bank presents a number of sorts of client financing:

• Term loans: Fixed-rate private loans can be found for makes use of similar to debt consolidation, house repairs, and main purchases.

• Auto loans: Financing for brand new and used automobiles, with a $5,000 minimal mortgage quantity.

• HELOCs: Home fairness traces of credit score can be found for renovations, giant purchases, schooling bills, surprising prices, and debt consolidation.

• Mortgages: Accordia’s mortgage division presents typical, FHA, VA, building, and specialised skilled mortgages, in addition to refinancing choices. It additionally presents residential building loans.

Accordia Bank professionals and cons

Pros: 

• Competitive deposit account charges: Accordia Bank’s HYSA and CD charges are amongst the very best obtainable available on the market immediately.  

• Low minimal deposits: You do not want hundreds of {dollars} to open an account at Accordia Bank; the very best minimal required is $1,000 for CDs.  

Cons: 

• Highest HYSA fee solely obtainable to Utah residents: Customers who reside outdoors of Utah aren’t capable of benefit from Accordia’s limited-time fee increase. However, the bottom fee for its HYSA continues to be a extremely aggressive 4% APY.

Customer service and cellular banking expertise 

Accordia Bank presents a number of methods to get assist, together with cellphone, e mail, on-line chat, a contact kind, and in-person service at its Utah branches. Customer care representatives can be found Monday by means of Friday from 9 a.m. to five p.m. Mountain Time.

Accordia presents a full-service cellular app for iOS and Android. Customers can view balances and transactions, deposit checks, switch cash, pay payments and loans, view eStatements, handle debit playing cards, set account alerts, and replace private data. However, the app’s scores are pretty modest. It at present has 3.7 out of 5 stars from 45 scores in Apple’s App Store and three.8 stars from 17 critiques on Google Play.

Accordia Bank handle and cellphone quantity

The cellphone quantity for Limelight Bank is 801-772-0800.

It’s fundamental department is situated on the following handle:

Accordia Bank 
1909 W. State Street 
Pleasant Grove, UT 84062

Accordia Bank FAQs

Is Accordia Bank FDIC-insured? 

Yes, Accordia Bank is FDIC-insured as much as federal limits.

What is Accordia Bank’s routing quantity?

The routing number for Limelight Bank is 124302927.

Is Accordia Bank a professional financial institution?

Yes. Accordia Bank is a professional, regulated U.S. financial institution. It is the brand new model title of CCBank, a Utah group financial institution that traces its historical past to 1993.

Where is Accordia Bank situated?

Accordia’s headquarters are in Pleasant Grove, Utah.