CALABASAS, Calif., Aug. 17 /PRNewswire/ -- In light of recent media
attention, Countrywide Bank, FSB today made the following statement
regarding its depository franchise.
"It is important for Countrywide Bank's valued customers to know that
the highly publicized issues related to the mortgage market do not impact
the safety of FDIC insured deposits at Countrywide Bank," said Tim Wennes,
president of Countrywide Bank.
Key facts about Countrywide Bank:
-- Countrywide Bank is a federal savings bank with more than $107 billion
in assets
-- Countrywide Bank offers depository products that are FDIC insured
-- Bank representatives are trained experts in helping customers structure
their accounts to maximize the FDIC protections available to them
-- Countrywide Bank continues to receive "investment-grade" ratings by the
three major credit rating agencies
-- Countrywide Bank offers high-yield depository products for retail and
commercial customers.
-- The Bank currently has 105 financial centers throughout the U.S.
Countrywide Bank provides a wide array of consumer finance products,
including high-yield CDs, and the Bank's high-yield online savings
account called SavingsLink(SM).
"Offering consumers highly competitive rates on savings products has
always been at the core of Countrywide Bank's business model. Our current
5.65%(1) rate on a 12-month CD is among the highest in the nation and
demonstrates our commitment to meeting the needs of consumers eager to
maximize their savings," concluded Wennes.
For more information, visit http://www.countrywidebank.com.
* About Countrywide Bank
Countrywide Bank, FSB is a member of the Countrywide Financial
Corporation (NYSE: CFC) family of companies. Countrywide Bank offers
consumers highly competitive rates on certificates of deposit and money
market accounts and, through its family of companies, also offers
investment and insurance products.* Customers can review banking products
and services, check rates on deposits, and apply for new accounts by phone,
online, or at one of the financial centers located throughout the country.
In addition, the company offers the same superior rates and unsurpassed
personalized service to its business customers through its Premier Business
Banking and Commercial Banking Divisions. Since its launch in 2001,
Countrywide Bank has steadily expanded the reach of its financial centers
to 15 states including: California, Arizona, Colorado, Texas, Florida,
Arkansas, Illinois, Michigan, Ohio, Pennsylvania, New York, New Jersey,
Massachusetts, Virginia and Washington. For more information about
Countrywide Bank, visit http://www.countrywidebank.com. Member FDIC. Equal
Housing Lender.
* Countrywide Investment Services and Countrywide Insurance Services
Products
Not FDIC Insured Not Guaranteed By Any Bank Not A Deposit
May Lose Value Not Insured By Any Federal Government Agency
(1) The Annual Percentage Yields (APY) effective as of August 16, 2007 at
8:30 AM EST and are subject to change without prior notice until
account opening. APYs shown apply to only individual and joint
consumer accounts opened via the internet. The minimum deposit to open
a CD account and obtain the APY is $10,000 for a regular CD and $2,500
for an IRA CD. A penalty may be imposed for early withdrawal. See
Application Disclosure Handbook for details. There may be additional
IRS penalties for early withdrawal from an IRA account. Consult your
tax advisor.
SOURCE Countrywide Bank
 back to top
Related links:
http://www.countrywidebank.com
CONTACT:
Media Hotline, 1-800-796-8448,
pressroom@countrywide.com
|
