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Affiliated Bank Review

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

Overview

Established in 1959, Affiliated Bank has $621 million in assets along with deposits totaling $422 million, which makes it a medium-size bank. Affiliated Bank, whose headquarters are in Bedford, Texas, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.1 out of 5 stars, Affiliated Bank is a good bank that gets the job done. Affiliated Bank has a complete choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Affiliated Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Affiliated Bank's standard checking does not carry a monthly charge. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best option for accruing the most income from your deposits while maintaining convenient 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

4.2
SmartAsset Average: 3.5

Affiliated Bank has a savings rate of 0.50%, which is poor as compared against the national average. Affiliated Bank's one-year and five-year term lengths CDs earn at a rate of 2.70% and 3.15%, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given Affiliated Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Affiliated Bank's Savings Rates Compare

Affiliated Bank Savings 0.50 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Affiliated Bank charges customers extremely low fees in comparison to the average U.S. bank. Its checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Affiliated Bank unfortunately doesn't refund out-of-network ATM charges, meaning you'll have to locate an Affiliated Bank ATM or pay the fee.

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

2.5
SmartAsset Average: 3.7

Affiliated Bank is a brick-and-mortar bank, with four total bank locations in Texas. With mobile and web apps, Affiliated Bank makes mobile banking convenient, even on the go. You can utilize Affiliated Bank's app to manage your bank accounts by monitoring current statements, transferring funds and accessing customer service. Affiliated Bank gets a superb consumer satisfaction score based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.7
SmartAsset Average: 4.8

Affiliated Bank is a medium-size bank and has assets totaling $621 million as well as $422 million in deposits. It has a strong Texas Ratio of 7.90%, indicating a small possibility of failure. Additionally, Affiliated Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.9%
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 Affiliated Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $2000
Checking Account 0.25% APY $100
Certificates of Deposit
  • 12 Month: 2.70% APY
  • 24 Month: 2.80% APY
  • 36 Month: 3.00% APY
  • 48 Month: 3.05% APY
  • 60 Month: 3.15% APY
$1000 for all terms
Money Market Account 0.4% APY $2500

Affiliated Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Affiliated Bank does not have the best savings rate, which means you should think about 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. Affiliated Bank's CD rates are fair in comparison to the national average.

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Find a Affiliated Bank Near Me

Affiliated Bank has four physical branches across the U.S.

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