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CFG Community Bank Review

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CFG Community Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1997, CFG Community Bank has $684 million in assets and deposits totaling $499 million, making the institution a medium-size bank. CFG Community Bank, whose headquarters are in Lutherville, Maryland, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated CFG Community Bank 4 out of 5 stars, indicating that it is a good bank that warrants your consideration. CFG Community Bank provides customers with a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. Institutions that offer free checking and a high savings APY are the best bet for accruing the highest income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.10%, CFG Community Bank ranks poorly in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.50% and 1.50%, respectively, while its highest-yielding money market account has a rate of 0.45%. Given CFG Community Bank's poor savings rate, you should think about looking at the competition to open savings accounts.

How CFG Community Bank's Savings Rates Compare

CFG Community Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on CFG Community Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

SmartAsset Average: 3.7

CFG Community Bank is a brick-and-mortar bank, with three total bank locations. It also offers access to mobile and web apps for straightforward access and banking on the go. CFG Community Bank gets positive feedback from customers for its mobile platform. The CFG Community Bank mobile app scored a 5.0 out of 5 (out of 1 reviews on iOS and Android) compared to the national average of 3.8. CFG Community Bank's mobile app lets you manage your accounts by looking at monthly statements, transferring money and accessing support representatives. CFG Community Bank gets a superb consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

SmartAsset Average: 4.8

CFG Community Bank is a medium-size bank with $684 million in assets and $499 million in deposits. Its Texas Ratio is 10.01%, signifying a tiny possibility of failure. Additionally, CFG Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 CFG Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1000
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 36 Month: 0.80% APY
  • 48 Month: 0.90% APY
  • 60 Month: 1.50% APY
$500 for all terms
Money Market Account 0.41% APY $10000

CFG Community Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. CFG Community Bank 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. CFG Community Bank's CD rates are fair compared to the national average.

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Find a CFG Community Bank Near Me

CFG Community Bank has three physical branches in the U.S.

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