Colorado Federal Savings Bank E Prentice Ave, Greenwood Village

I've been watching this bank for its 5-year CD rates. As of last week middle of June 2022 their rate was at 3.4% which was phenomenal. So I figured I'd wait a few days to see what happened. Now less than a week later although there has been another fed interest rate hike, the 5-year has dropped down to 2.9%. still good but makes me Leary to do business with them because why would their interest rates be dropping as the Fed is increasing interest rates? At first upon seeing the 3.4 I said to myself wow a bank that is actually "sharing the wealth" quote un quote. But now as I see the interest rate drop I am very unlikely to do business with this Bank. It's a shame that we live in such a greedy country wjere CEOs think that they need to sop up every penny. The other side of this coin is the government (ie Corporate America) does not want people putting their money in savings accounts they want you to put it in the stock market and the banks are cooperating. Because let's face it they make money either way

All I had was a CD and every year the bank would deactivate my account because there was no activity. This would stop me from logging in. This year they threatened to send my funds to the state of Colorado as my account had not been active for three or more years. I guess the emails they sent me and the 1099's they sent me were not considered activity. Now I am told that I have to have a form signed and notarized to have access to my funds. I thought having an online account would be easier it has been very irritating and more time consuming than walking to my nearest bank. Sorry I ever opened the account.

I have no complaints. I have always found this bank to be excellent regarding communication via phone and email. A live person answers the phone immediately during business hours, and emails are returned very quickly. I had a money market account there for 9 years, and when their interest rates became too uncompetitive, I finally closed that account. When their CD rates recently became higher than other banks, I was happy to open a new account with them again. To the other reviewer on here - I see no indication that you ever tried to communicate with them regarding your inactivity notices. Colorado law: "presumed abandoned unless the owner, within five years, has: ... (b) Communicated in writing with the banking or financial organization concerning the property". That's all you had to do! Seems like somebody would be more proactive when dealing with their own money and you just shrugged it off, but whatever. Your experience does not warrant a one-star review for this bank. They have to follow the law.

The customer service has been fast, easy and simple.