Phoenix-based Sonoran Bank Selected to Receive Great Rate Award from Datatrac

May 18, 2010 - PRLog -- Sonoran Bank (www.sonoranbank.com), a Phoenix, Arizona-based community bank serving Arizona’s business community, today announced that it received a Great Rate award from Datatrac, America’s largest interest rate database. The Great Rate award certifies that Sonoran Bank outperformed in the Arizona market with an interest rate average by up to 48% for the 12 month period ending December 31, 2009. Sonoran Bank will be presented with its Great Rate award on Friday, May 21st at 8:00 a.m. at its branch location at 3877 N. 7th Street, Phoenix, Arizona 85014.

“Compared to over 60 other financial institutions in the Phoenix metropolitan area, Sonoran’s $25,000, $50,000 and $100,000 money market accounts beat the market average 100% of the time,” says Ken Wanek, president and CEO of Datatrac, a Milwaukee based company that has been monitoring bank and credit union rates for over 20 years.

Part of being selected by Datatrac to receive the Great Rate award gives customers access to a new rate calculator that will be featured on Sonoran Bank’s Web site. The calculator will demonstrate to current and potential customers the earning power of opening a Sonoran Bank High Yield Checking and Savings account.

“We are excited and honored to receive the Great Rate award and distinction that comes with the recognition from Datatrac,” said Jim Vigars, president and CEO of Sonoran Bank. “This award serves as a testament to our ongoing commitment to offer the best products, services and rates to our customers. The Datatrac Great Rate Award assures our customers that Sonoran Bank is guiding their way to financial success with consistent great rates.”

Wanek added, “Datatrac Great Rate Awards assure consumers that the rate offered by their financial institution consistently outperforms the market average, eliminating the cumbersome task of rate shopping. When you see a Great Rate Award, you know you’re getting a good deal.”

For more information about Sonoran Bank visit www.sonroanbank.com and for up-to-the-minute information follow us on Twitter at @SonoranBank.com. To speak with Jim Vigars, president and CEO contact Daniel Moran at dmoran@prfectmedia.com or by phone at 480.706.6880 x122. The Datatrac Award Ceremony is open to the general public, no RSVP is required.

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Founded in 2006, Sonoran Bank is a true community bank that quickly became the premier banking institution for Hispanic and minority small-to-medium sized businesses in Arizona. Named the only Minority Depository Institution in Arizona, by the FDIC, Sonoran Bank provides sound banking options for consumers, for profit and nonprofit businesses in the Phoenix metro area. Despite the collapse of the banking industry in 2008, Sonoran has continued to operate normally and provide qualified businesses and consumers with access to loans. As a community bank, Sonoran actively raises monies and awareness for local nonprofit organizations that include Valle del Sol and the Arizona Hispanic Chamber of Commerce. For more information about Sonoran Bank visit www.sonoranbank.com or follow us on Twitter @SonoranBank.