Community Commerce Bank is a Hispanic American-owned bank with 3 branches in California.
Community commerce bank; Alyssa Powell/Insider
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The bottom line: Community Commerce Bank Fixed Rate Savings Account offers California residents a solid interest rate on savings accounts and CDs. However, the bank doesn’t have checking accounts, money market accounts, an ATM network, or a mobile app – so you’ll want to go elsewhere if you prioritize these services in your banking experience.
Overall bank rating
FeatureInsider rating (out of 5)Savings3.5CD3.25Trustworthiness5Total:4
Pros and cons
ProsConsHispanic American-owned bankSolid APY on savings and CDsVariety of CD termsNo monthly service feesInterest compounds dailyOnly available in CaliforniaOnly offers savings accounts and loan productsLimited branch locations and no ATM networkNo weekend customer service supportNo mobile app
Community Commerce Bank Fixed Rate Savings Account
The Community Commerce Bank Fixed Rate Savings Account is a solid option if you’re looking for an account with a competitive APY for brick-and-mortar banks. You won’t have to deal with any monthly service fees, but you’ll need to maintain at least $50 in your account daily to earn the APY.
Community Commerce Bank Certificate of Deposit
Community Commerce Bank Certificate of Deposit comes in a variety of term lengths, from three months to five years. The interest on your term will depend on the amount you deposit. If you can open a CD with $100,000 or more on your account, then you’ll be able to secure a high APY.
However, if you’d prefer to make a lower minimum opening deposit and still get a solid rate, you may favor one of the financial institutions on our best CD rates guide.
How Community Commerce Bank works
Community Commerce Bank is a Hispanic American-owned bank in California. The bank has three branches in Tarzana, Monterey Park, and Claremont and only offers loan products and savings accounts.
Customer service support is available over the phone Monday to Friday from 8:00 a.m. PT to 5:00 p.m. PT.
If you like mobile banking, you may prefer to look at other banks, such as some of the ones listed on our best mobile banking apps guide. Community Commerce Bank doesn’t have a mobile app. It only has online banking and in-person banking.
The bank is FDIC insured, so your money will be protected up to $250,000 if it’s in an individual account or up to $500,000 if it’s in a joint account.
Is Community Commerce Bank trustworthy?
Community Commerce Bank hasn’t gone through any public controversies in the last few years. The bank has also received an A+ rating from the Better Business Bureau.
Ratings from the BBB are determined by several factors, including how a business deals with customer complaints and whether it is transparent about its business practices. A good rating from the BBB won’t necessarily guarantee that your relationship with the business will be perfect, though.
If you want to see whether a bank will be a match for you, consider reaching out to friends or family if they’ve had relationships with the bank. You can also read through online customer reviews.
How Community Commerce Bank compares
We compared Community Commerce Bank to two other Hispanic American-owned financial institutions in California: First Imperial Credit Union and Sun Community Federal Credit Union.
If you’d like to learn more about the role of Hispanic American-owned banks and credit unions in serving underserved communities, you can glimpse through our guide on Hispanic American-owned banks and credit unions.
Community Commerce Bank
First Imperial Credit Union
Federally insured by the NCUA
Sun Community Federal Credit Union
Federally insured by the NCUA
3 (Tarzana, Monterey Park, Claremont)
4 (El Centro, Brawley, Calexico, Imperial)
9 (Brawley, Calexico, Calipatria, El Centro, Holtville, Imperial, Indio, Palm Desert, Palm Springs)
Good APY on savings and CDs
Free ATM card included with savings
Low minimum opening deposits
Community Commerce Bank Fixed Rate Savings AccountFirst Imperial Credit Union Regular Savings AccountSun Community Federal Credit Union Secure Savings Account
Community Commerce Bank vs. First Imperial Credit Union
First Imperial Credit Union is the standout choice if you’re searching for a checking account or money market account – Community Commerce Bank doesn’t offer either.
If your priority is getting a solid APY, you’ll have to decide whether you’d prefer to deposit money in a savings account or CD. Community Commerce Bank offers a higher APY on its savings account, but First Imperial Credit Union has higher APYs on CDs.
Community Commerce Bank vs. Sun Community Federal Credit Union
You may prefer Sun Community Federal Credit Union over Community Commerce Bank if you’re looking for a full banking experience. Sun Community Federal Credit Union has checking and money market accounts, mobile banking, and access to over 30,000 free ATMs through the CO-Op Shared Network. Meanwhile, Community Commerce Bank only provides services for savings accounts and loan products.
If you’re more concerned with getting a competitive APY on a savings account, Community Commerce Bank Fixed Rate Savings Account is the better choice. For CDs, it’s a bit more of a toss-up between the two financial institutions – it will depend on the amount you deposit and the term.
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