Adirondack Bank Review

Adirondack Bank Savings

0.01% APY

Adirondack Bank first started operating in 1898 and its headquarters are located in Utica, New York. Adirondack Bank manages $963.6 million in assets along with $836.7 million in deposits, which makes it a medium-size bank. Adirondack Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We gave the bank a 3.7 stars out of 5, which means Adirondack Bank is an average bank that leaves room for improvement. 

Adirondack Bank has the full selection of banking products, which include savings accounts, checking accounts, CDs, mortgage products and credit cards. Adirondack Bank has a fair savings rate; you can find higher rates with other banks. Using the same bank for checking and savings is best when you want to get the highest interest rates on your income while keeping easy control over your money.

Service Quality

Adirondack Bank is a brick-and-mortar bank, with 19 total branches in New York. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not offer all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. ET; Saturday, 9:00 a.m. to 1:00 p.m. ET. Adirondack Bank also offers a live chat feature, giving customers an easy access point throughout the day.

Adirondack Bank's online and mobile banking platforms get fair scores from customers: with 67 customer reviews on Apple and Android platforms, the Adirondack Bank mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). You can use Adirondack Bank's app to manage your finances by checking account balances, transferring funds and reaching support representatives. Adirondack Bank gets a superb consumer satisfaction score due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Adirondack Bank offers several deposit products like savings accounts, checking accounts and CDs, providing you with many options to manage your money. It does not have the best savings rate, which means you should think about taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Adirondack Bank's CD rates are fair in comparison to the average U.S. bank. 

Rates

Adirondack Bank features a savings rate of 0.01%, which is fair as compared against the national average. Adirondack Bank's one-year CD has a rate of 3.66% and the five-year CD has a rate of 0.50%, while its highest-yielding money market account earns at a rate of 0.05%. Given its noncompetitive savings rate, you should contemplate choosing another bank to earn more on your deposits.

Fees

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

Financial Health

Adirondack Bank is currently a medium-size bank and has assets totaling $963.6 million and $836.7 million in deposits. Its Texas Ratio is 8.81%, suggesting a small possibility of failure. Additionally, Adirondack Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find an Adirondack Bank Near Me

Adirondack Bank has 19 locations in the U.S.