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American Heritage National Bank Review

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American Heritage National Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

American Heritage National Bank was founded in 1881 with headquarters located in Long Prairie, Minnesota. American Heritage National Bank has $361 million in assets and $320 million in deposits, which makes it a small bank. American Heritage National Bank 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a superb 4.5 stars out of 5, American Heritage National Bank is an excellent bank that warrants a serious look. American Heritage National Bank has a selection of product offerings, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. American Heritage National Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, American Heritage National Bank's most basic checking does not carry a monthly charge. Institutions that offer no-fee checking and a high interest rate savings account are the best bet for getting the most income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

3.5
SmartAsset Average: 3.5

With a savings rate of 0.15%, American Heritage National Bank ranks poorly compared to other U.S. banks. Its CD rates are 1.25% and 2.50% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given American Heritage National Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.

How American Heritage National Bank's Savings Rates Compare

American Heritage National Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, American Heritage National Bank charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, American Heritage National Bank is perfect for those who want a basic checking account. American Heritage National Bank unfortunately doesn't refund out-of-network ATM fees, which means you'll have to locate an American Heritage National 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

4.4
SmartAsset Average: 3.7

American Heritage National Bank is a brick-and-mortar bank, with six total bank locations in Minnesota. With mobile and web apps, American Heritage National Bank makes account access easy, even on the go. American Heritage National Bank's online and mobile banking services receive positive ratings from customers. With 5 customer reviews across both iOS and Android platforms, the American Heritage National Bank mobile app is scored at 4.8 out of 5 (compared to the national average of 3.8). You can use American Heritage National Bank's mobile app to manage your accounts by reviewing current statements, sending and receiving funds and reaching support representatives. American Heritage National Bank receives a superb consumer satisfaction rating based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.8/5
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

American Heritage National Bank is a small bank owning $361 million in assets as well as $320 million in deposits. Its Texas Ratio is 1.83%, suggesting a minute likelihood of failure. Additionally, American Heritage National 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 American Heritage National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $200
Checking Account 0.05% APY $750
Certificates of Deposit
  • 12 Month: 1.25% APY
  • 24 Month: 1.75% APY
  • 36 Month: 2.00% APY
  • 48 Month: 2.25% APY
  • 60 Month: 2.50% APY
$5000 for all terms
Money Market Accounts 0.3% APY 0.5% APY $10000 $15000

American Heritage National Bank has several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. American Heritage National Bank does not have the best savings rate, which means you should think about taking a look 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. American Heritage National Bank's CD rates are fair compared to other U.S. banks.

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Find a American Heritage National Bank Near Me

American Heritage National Bank has six branches across the U.S.

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