Crestmark Bank appears to be a newcomer to the online deposit banking industry. Nevertheless, I like them already because they are offering a highly competitive 5.50% APY Certificate of Deposit rate.
To get this high CD rate, you need a $25,000 minimum opening deposit.
One drawback about Crestmark’s Internet banking is that you have to open accounts via snail mail. They don’t appear to have an online banking platform that allows you to manage your money online. This could change in the future, but at the moment, I am reluctant to take the time to deal with this.
Crestmark Bank was founded in 1996, and appears to be based out of Michigan. They have regional offices in Florida, Virginia, Illinois.