Colorado Federal Savings Bank Review 2025
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At a glance
Overview
Colorado Federal Savings Bank is best for savers who are comfortable with an online-only experience. While the bank offers attractive rates, most accounts require high minimum balances, making it suited for those who can maintain higher balances and prefer hands-off savings management.
Highlights:
High APY No Monthly FeesHighlights:
CDs
Savings
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Colorado Federal Savings Bank focuses exclusively on savings products, offering certificates of deposits and two savings accounts with competitive APYs. However, high minimum balance requirements may deter some customers. Banking is conducted solely through their website, with notably limited digital features — no ATM access, no Android app, and fewer online banking functions compared to typical online banks.
Pros
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CD and savings account yields are competitive.
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You can open a high-yield savings account with just $1.
Cons
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Colorado Federal has a small selection of deposit accounts to choose from.
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The bank generally offers a stripped down digital experience.
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There isn’t an Android mobile app.
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There are high minimum balance requirements to open a CD.
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Colorado Federal Savings doesn’t have an ATM network where you can pull your money.
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Colorado Federal Savings Bank banking products
Colorado Federal High Yield Savings account
Pros
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Colorado Federal’s High Yield Savings account is true to its name, offering a top-notch APY.
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You only need $1 to open the High Yield Savings account.
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There are no monthly maintenance fees.
Cons
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There’s a $25 fee each time you withdraw after surpassing the six-per-month withdrawal limit.
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Mailed statements are not available; customers must access e-statements.
Colorado Federal certificates of deposit
Pros
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There’s a wide range of terms to choose from.
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A no-penalty CD is available.
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Save a couple of terms. APYs range from solid to competitive.
Cons
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You need at least $5,000 to open a CD, which is much higher than most require.
Bank fees
| Fee | Charged? |
|---|---|
| Overdraft fee | N/A |
| Non-sufficient funds fee | $25 |
| Monthly maintenance fees | None |
| Out-of-network ATM fee | None |
| Excessive transaction fee | $25 |
Customer experience
Customer service. Service representatives are available weekdays from 7 a.m. to 5 p.m. Mountain Time by phone, in addition to email support. These limited hours may pose challenges for customers in different time zones or those who need weekend assistance.
Digital experience. The bank's digital services are notably limited. While an iOS app is available, there's no Android app. Common features found at most online banks — including bill pay and Zelle transfers — are not offered. The stripped-down platform focuses solely on basic account management.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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