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Pioneer Trust Bank Review

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Pioneer Trust Bank Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1924, Pioneer Trust Bank has $495 million in assets and deposits totaling $436 million, which makes the institution a medium-size bank. Pioneer Trust Bank, whose headquarters are in Salem, Oregon, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, Pioneer Trust Bank is an outstanding bank that you should strongly consider, with a rating of 4.7 stars out of 5 from our team. Pioneer Trust Bank offers a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Pioneer Trust Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Pioneer Trust Bank offers an option without a maintenance or monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for gaining the most income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.7/5
National Average: 4.1

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

Rates

4.5
SmartAsset Average: 3.5

With a savings rate of 0.50%, Pioneer Trust Bank ranks poorly compared to other U.S. banks. Pioneer Trust Bank's one-year CD has a rate of 1.51%, while its highest-yielding money market account has an APY of 1.00%. Given Pioneer Trust Bank's poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How Pioneer Trust Bank's Savings Rates Compare

Pioneer Trust Bank Savings 0.50 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Pioneer Trust Bank charges customers extremely low fees in comparison to the national average. Pioneer Trust Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a hassle-free account. Pioneer Trust Bank unfortunately doesn't refund out-of-network ATM fees, which means you will need to find a Pioneer Trust Bank ATM or pay the cost of withdrawal.

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

Pioneer Trust Bank is a brick-and-mortar bank, with two total branches in Oregon. With mobile and web apps, Pioneer Trust Bank makes account access easy, even on the go. Pioneer Trust Bank's online and mobile banking services get relatively satisfactory scores from customers. With 6 ratings on both iOS and Android platforms, the Pioneer Trust Bank mobile app has an overall rating of 4.3 out of 5 (compared to the national average of 3.8). Pioneer Trust Bank's mobile app lets you manage your funds by checking account balances, transferring money and reaching support representatives. Pioneer Trust Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Pioneer Trust Bank ranks as a medium-size bank owning assets totaling $495 million as well as deposits totaling $436 million. It has an excellent Texas Ratio of 0.00%, signifying that the bank is in terrific financial condition and unlikely to fail. Additionally, Pioneer Trust Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Pioneer Trust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $100
Checking Account 0.3% APY $5000
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.76% APY
$500 for all terms
Money Market Account 0.5% APY $5000

Pioneer Trust Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Pioneer Trust Bank does not have the best savings rate, which means you should consider other options 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. Pioneer Trust Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Pioneer Trust Bank Near Me

Pioneer Trust Bank has two branches across the U.S.

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