Forbright Bank Announces 12 Month Certificate of Deposit at 5.25% APY
New high-yield CD helps consumers earn more and save sustainably
CHEVY CHASE, Md.–(BUSINESS WIRE)–Forbright Bank, a nationwide bank focused on decarbonization, today announced the launch of a new high-yield Certificate of Deposit (CD) to help Americans earn more and accelerate the transition to a clean energy economy. Forbright’s 5.25% APY* on a 12-month term CD is available nationwide, and this FDIC-insured product helps Americans take a high-impact step to living more sustainably.
The online process to open Forbright’s CD takes just a few minutes at https://open.forbrightbank.com. It requires a minimum account balance of $1,000. To open an account, people will need a valid form of identification, social security number, current residential address, email address, bank account funding information, and be at least 18 years of age.
Forbright Bank is fully mission-aligned around sustainability and decarbonization. It was the seventh U.S. bank to become a signatory to the U.N. Principles for Responsible Banking. By 2025, more than half of the Bank’s portfolio will go toward clean energy projects and sustainable businesses. Recently, the Bank lead financing for two solar parks in Puerto Rico to support the island’s goal of transitioning 40% of its energy to renewable sources. And Forbright Inc’s Green Bond resulted in nearly 12,000 metric tons of estimated annual carbon equivalent emissions avoided last year.
In the year ahead, Forbright will continue to expand on its role as a leader in the sustainable finance space. It will launch additional products, including decarbonization-linked deposit accounts that allow Americans to ensure their money goes to clean energy sources like solar, wind power, or high efficiency building upgrades; continue to lead financing for the visionary companies, investors, and innovators taking action to accelerate the drive toward nationwide net-zero carbon emissions; and continue its work to provide constructive and creative financing solutions to a network of borrowers nationwide.
APY and FDIC Disclosure
*Annual Percentage Yield (APY) is accurate as of 03/2/2023. Fees may reduce earnings. Limited time offer and subject to change at any time without notice. Minimum opening deposit of $1,000 is required to earn the APY. The APY on all certificates assumes that principal and interest will remain on deposit until maturity. A penalty may be imposed for early withdrawal. FDIC insured up to the FDIC established limits. Visit FDIC.gov for more information.
Forward Looking Statements:
This news release contains estimates and forward-looking statements related to Forbright’s product initiatives. The estimates and forward-looking statements involve risks and uncertainties and do not guarantee future performance, as actual results or developments may be substantially different from the expectations described in the forward-looking statements.
About Forbright Bank:
Forbright Bank (www.forbrightbank.com), Member FDIC, Equal Housing Lender, is a full-service bank, lender, and asset manager taking action to decarbonize the economy. Headquartered in Chevy Chase, Maryland, Forbright is committed to accelerating the transition to a sustainable, clean energy economy by financing the companies, investors, and innovators driving that change. With approximately $9 billion of owned and managed assets, the Bank provides specialty lending and banking services to clients across the United States.
Contacts
Ben Wakana
[email protected]
