About CFG Bank
CFG Bank was founded in 1927 as La Corona Building and Loan Association in Baltimore, Maryland. Jack Dwyer founded Capital Funding Group in 1993, which eventually acquired La Corona Building and Loan Association in Baltimore and eventually became CFG Bank.
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CFG Bank Overview
CFG Bank is a full-service bank that offers CD, checking, money market, and savings accounts. The bank operates three branches in Baltimore, Annapolis, and Lutherville, Maryland. Customers have fee-free access to more than 55,000 Allpoint ATMs nationwide. CD, checking, and money market accounts can be opened online or in-branch, but the savings account can only be opened in-branch.
| Competitive APYs on most accounts. | CFG Bank operates only three branches. |
| Low minimum opening deposits required for CDs. | Their only savings account must be opened in-branch. |
| No monthly service charges on most accounts. | |
| Peer-to-Peer transactions available via Zelle. | |
| Most accounts can be opened online or in person. |
CFG Bank Offerings
CDs
A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. CFG Bank offers four CDs with terms ranging from 18 to 60 months. The APYs on a number of its CDs is higher than the national averages of 2.42%. Here are the details for some of the bank's CD offerings for the month! and 2024:
Checking Accounts
A checking account is a transactional account intended for everyday expenses. CFG Bank offers one business and personal checking account. Both checking accounts offer APYs that are below the national average of 0.23%. Here are the latest account details for July 2024:
Money Market Accounts
A money market account is an interest-bearing hybrid between a savings account and a checking account. CFG Bank offers several money market accounts, all of which offer APYs that are higher than the national average of 0.64% for money market accounts. Here are the account details for July 2024:
Why we chose it?
What to watch for
Savings Accounts
A savings account is an interest-bearing account that pays you interest while you save for your financial goals. CFG Bank offers two savings accounts, both of which offer APYs below the national average yield of 0.64% for savings accounts and must be opened in person at one of the branches. Here are the latest savings account details for July 2024:
Bank Fees
Overdraft fee: $25
Account closure fee: None
Dormant account fee: $10; No activity for two years
Wire transfer fee: Domestic - Incoming is $12 and outgoing is $25; International - Incoming is $45 and outgoing is $45
Non-network ATM fee: None
Monthly service charge: $10(Business Interest Checking account)
Stop payment fee: $30
Paper statement fee: None
CFG Bank Features
CFG Bank's customer service line is available on weekdays from 9 a.m. to 5 p.m. EST via phone. CFG Bank operates three branches in Maryland. Customers have fee-free access to the more than 55,000 Allpoint ATMs nationwide. The bank has an easy-to-use mobile app that allows customers to check balances, deposit checks, pay bills, and process transactions.
CFG Bank FAQs
Are CFG Bank accounts open to everyone?
What are CFG Bank's customer service phone hours?
Is it safe to bank with CFG Bank?
Does CFG Bank use Zelle?
How many branches does CFG Bank have?
Our Take
CFG Bank is a Maryland-based bank that offers CD, checking, and money market accounts online and in-branch with highly competitive APYs. These accounts are available to customers nationwide. It also offers a few savings accounts, but those can only be opened in-branch. As most accounts are available online, CFG Bank may be an excellent choice for anyone looking for accounts that offer competitive APYs, as long as they are okay with banking online, unless they are also Maryland residents. All in all, it is a good bank with excellent account offerings and easy access to funds via the more than 55,000 Allpoint ATMs.
Methodology
Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.