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Bank of Eastern Oregon Review

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Bank of Eastern Oregon Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1945, Bank of Eastern Oregon has assets totaling $414 million and $371 million in deposits, making it a medium-size bank. Bank of Eastern Oregon, whose headquarters are in Heppner, Oregon, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Overall, Bank of Eastern Oregon is a respectable bank that deserves your consideration, with a rating of 4.1 stars out of 5 from our team. Bank of Eastern Oregon offers a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Bank of Eastern Oregon's standard checking account does not have a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is the best bet for gaining the most income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.2
SmartAsset Average: 3.5

Bank of Eastern Oregon has a savings rate of 0.25%, which is fair compared to the national average. Bank of Eastern Oregon's one-year CD earns at a rate of 0.25% and the five-year CD earns at a rate of 2.02%, while its highest-yielding money market account earns at an APY of 0.05%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Bank of Eastern Oregon's Savings Rates Compare

Bank of Eastern Oregon Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Bank of Eastern Oregon charges customers extremely low fees compared to the national average. With no monthly fee, Bank of Eastern Oregon's checking account is perfect for people who want an easy banking experience. Bank of Eastern Oregon unfortunately does not refund out-of-network ATM fees, which means you will be required to search for a Bank of Eastern Oregon ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

Bank of Eastern Oregon is a brick-and-mortar bank, with 15 total bank locations in Oregon and Washington. It also offers access to mobile and web apps for simple access and banking on the go. Bank of Eastern Oregon receives moderately positive ratings from customers for its mobile banking services. The Bank of Eastern Oregon mobile app is rated at 4.2 out of 5 (with 14 ratings on iOS and Android) compared to the national average of 3.8. You can access Bank of Eastern Oregon's mobile app to control your finances by monitoring current statements, sending and receiving funds and reaching support representatives. Bank of Eastern Oregon receives an outstanding consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

3.9
SmartAsset Average: 4.8

Bank of Eastern Oregon is a medium-size bank with $414 million in assets as well as deposits totaling $371 million. It has a good Texas Ratio of 22.09%, indicating that the bank is in decent financial shape. Additionally, Bank of Eastern Oregon is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

22.09%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Bank of Eastern Oregon to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.50% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.51% APY
  • 60 Month: 2.02% APY
$500 for all terms
Money Market Account 0.05% APY $25000

Bank of Eastern Oregon has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Bank of Eastern Oregon does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Bank of Eastern Oregon's CD rates are fair in comparison to other U.S. banks.

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Find a Bank of Eastern Oregon Near Me

Bank of Eastern Oregon has 15 physical locations in the U.S.

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