Community Commerce Bank review: Hispanic American-owned bank, good interest rates on savings and CDs

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Community Commerce Bank is a Hispanic American-owned bank with 3 branches in California.

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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

Savings

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.

CD

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

Member FDIC

First Imperial Credit Union

Federally insured by the NCUA

Sun Community Federal Credit Union

Federally insured by the NCUA

California branches

3 (Tarzana, Monterey Park, Claremont)

California branches

4 (El Centro, Brawley, Calexico, Imperial)

California branches

9 (Brawley, Calexico, Calipatria, El Centro, Holtville, Imperial, Indio, Palm Desert, Palm Springs)

Standout feature

Good APY on savings and CDs

Standout feature

Free ATM card included with savings

Standout feature

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.

Related Content Module: More Savings Coverage

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