Umbrella Bank
Umbrella Bank is a mid-sized bank headquartered in Irondale, AL. Umbrella Bank is a failed bank. Umbrella Bank has deposits of $1.3 billion, and was established in January 1985.
Products offered by the bank include: Umbrella CD, Umbrella Money Market, Early Bird Savings, Green Day Savings, Virtually Free Checking, Basic Interest Checking and Preferred Interest Checki.
Current Umbrella Bank Rates
| Name | Term | APY | Min Deposit | |
| Umbrella CD | 1 month | 0.20 % | $1,000 | |
| 2 months | 0.20 % | $1,000 | ||
| 3 months | 1.00 % | $1,000 | ||
| 6 months | 1.35 % | $1,000 | ||
| 9 months | 1.50 % | $1,000 | ||
| 1 year | 1.95 % | $1,000 | ||
| 18 months | 1.90 % | $1,000 | ||
| 2 years | 2.10 % | $1,000 | ||
| 30 months | 2.20 % | $1,000 | ||
| 3 years | 2.40 % | $1,000 | ||
| 4 years | 2.60 % | $1,000 | ||
| 5 years | 2.85 % | $1,000 |
About Umbrella Bank
On Friday, December 18, 2009, New South Federal Savings Bank, Irondale, AL, was closed by the Office of Thrift Supervision. This includes the Internet services that operated under the name of Umbrella Bank. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Beal Bank, Plano, TX acquired substantially all the deposits and assets of New South Federal Savings Bank from the FDIC as Receiver for New South Federal Savings Bank. Any claims by equity holders were not acquired.
The total balance in your account(s) has been transferred to Beal Bank and will be available for transactions during regular business hours at the former office of the New South Federal Savings Bank starting on Monday, December 21, 2009.
UmbrellaBank.com is the Internet banking division of New South Federal Savings Bank. New South Federal is a member of the Collateral Family of Companies, which has been in the financial services industry since 1933. UmbrellaBank.com offers a wide range of banking products to meet all of your financial needs. Our products are available with online access so you can do your banking when it is convenient for you, 24 hours a day, 7 days a week.
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