Community Commerce Bank review: Spanish-American property, solid rates

Overall rating of the bank

Advantages and disadvantages

Savings

The Community Commerce Bank Fixed Rate Savings Account is a solid option if you are looking for an account with a competitive APY for traditional banks. You won’t have to pay a monthly service fee, but you will need to keep at least $ 50 in your account daily to earn the APY.

CD

Community Commerce Bank CDs are available in a variety of terms, 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 in your account then you will be able to get a high APY.

However, if you prefer to make a lower minimum opening deposit while still getting a solid rate, you may prefer one of the financial institutions listed in our best guide to CD rates.

Community Commerce Bank is a Spanish-American bank located 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 by phone Monday through Friday 8:00 a.m. PT to 5:00 p.m. PT.

If you are into mobile banking, you might prefer to look to other banks, such as those listed in our guide to the best mobile banking apps. Community Commerce Bank does not have a mobile app. It only offers online banking and in-person banking.

The bank is FDIC insured, so your money will be protected up to $ 250,000 if it is in an individual account or up to $ 500,000 if it is a joint account.

The Community Commerce Bank has not experienced any public controversy in recent years. The bank also received an A + rating from the Better Business Bureau.

BBB ratings are determined by several factors, including how a business handles customer complaints and how transparent its business practices are. However, a good BBB rating does not necessarily guarantee that your relationship with the company will be perfect.

If you want to know if a bank is right for you, consider reaching out to your friends or family if they’ve had any dealings with the bank. You can also read customer reviews online.

We compared the Community Commerce Bank to two other Spanish-American financial institutions in California: First Imperial Credit Union and Sun Community Federal Credit Union.

If you want to know more about the role of Hispanic-American banks and

credit unions
As you serve underserved communities, you can take a look at our guide to Hispanic-American-owned banks and credit unions.

Community Commerce Bank v First Imperial Credit Union

The First Imperial Credit Union is the perfect choice if you are looking for a checking or money market account. The Community Commerce Bank does not offer one either.

If your priority is to get a solid APY, you will need to decide whether you prefer to deposit money into a savings account or a 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 v Sun Community Federal Credit Union

You may prefer Sun Community Federal Credit Union over Community Commerce Bank if you are 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 are more concerned with getting a competitive APY on a savings account, Community Commerce Bank is the best choice. For CDs, it’s a bit more of a game of chance between the two financial institutions – it will depend on how much you deposit and how long.

Sophie Acevedo

Personal finance reviewer