Broadway Federal Bank

Deposit Products

NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

Beginning January 1, 2013, funds deposited in a non-interest bearing transaction account and interest on Lawyer Trust Account will no longer receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). All of a depositor's accounts at an insured depository institution, including all non-interest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount $250,000, for each deposit insurance ownership category.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

Savings Accounts

Broadway Federal Bank offers a variety of savings options to fit your needs. Whether you’re just starting out or are looking to enhance your financial portfolio, we have an account to fit your needs. For over half a century, we've specialized in helping people secure a sound financial future by providing products and services at competitive rates and excellent customer service.


Passbook Savings Account Traditional savings account. A great way to start your savings plan. You have the choice of a monthly statement or passbook.


$50 minimum to open Interest compounded daily		Deposit and withdrawal flexibilit Direct Deposit available

Money Market NOW Account Account liquidity at a higher rate of interest than our Passbook Savings Account.

$2500 minimum to open Interest compounded monthly Unlimited deposits		Check access Direct Deposit available

NOW / Checking Accounts

At Broadway Federal Bank you have a choice of four checking plans to meet your individual needs. Each plan gives you unlimited check writing with no per-check charges plus free access to your funds at any Broadway Federal Bank ATM.


Free Checking


$50 minimum to open Open in branch ATM/Debit Card access		Direct Deposit Available No monthly maintenance fee

Non-Interest Bearing NOW Account


$100 minimum to open A monthly service charge fee of $8, will be imposed every statement cycle of the balance in the account falls below $600, any day of the cycle.		Unlimited Check writing

Interest-Bearing NOW Account


$100 minimum to open Unlimited check writing Account earns interest		A monthly service charge fee of $11, will be imposed every statement cycle of the balance in the account falls below $700, any day of the cycle.

Super NOW Account


$2500 minimum to open Pays a higher rate of interest than Interest-Bearing NOW Account		Unlimited check writing

Senior Citizen Non-Interest Bearing NOW Account A special program for Seniors age 59 or older with direct deposit of SSA or SSI.


$100 minimum to open First order of Corporate Image checks at no charge		No monthly service charge UnlimitedCheck writing

Gold Phone With Broadway Federal's 24-hour Gold Phone automated account information and transaction system, customers may:


Obtain account balances Obtain a history of transactions Transfer funds		Verify funds Make loan payments

Call (323) 935-2288 to reach our Gold Phone. To access your account information enter the last four digits of the primary account holder's social security number as the security code, and your nine digit account number.

Certificates of Deposit

Broadway Federal Bank offers a variety of Certificates of Deposit providing you with a choice of terms ranging from three months to six years. Broadway Federal Bank offers competitive rates and your deposit is insured by the FDIC up to $250,000.