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Bank of Eastern Oregon Review

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Bank of Eastern Oregon Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1945, Bank of Eastern Oregon has assets totaling $414 million and deposits totaling $371 million, classifying the institution as a medium-size bank. Bank of Eastern Oregon, whose headquarters are in Heppner, Oregon, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave Bank of Eastern Oregon a 4.1 stars out of 5, suggesting it is a good bank that deserves your consideration. Bank of Eastern Oregon offers a varied choice of banking products, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Bank of Eastern Oregon has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's most basic checking does not carry a monthly maintenance charge. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same institution is the best bet for returning the most income on your deposits alongside convenient access to your funds.

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

3.2
SmartAsset Average: 3.5

Bank of Eastern Oregon features a savings rate of 0.25%, which is poor in comparison to the national average. Its one-year CD earns at a rate of 0.25% and the five-year CD has a rate of 2.02%, while its highest-yielding money market account earns at a rate of 0.05%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How Bank of Eastern Oregon's Savings Rates Compare

Bank of Eastern Oregon Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Bank of Eastern Oregon charges its customers extremely low fees in comparison to the average U.S. bank. Bank of Eastern Oregon's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Bank of Eastern Oregon unfortunately does not refund out-of-network ATM charges, which means you will have to search for a Bank of Eastern Oregon ATM or pay the withdrawal 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

4.1
SmartAsset Average: 3.7

Bank of Eastern Oregon is a brick-and-mortar bank, with 15 total bank locations in Oregon and Washington. With mobile and web apps, Bank of Eastern Oregon makes mobile banking easy, even on the go. Bank of Eastern Oregon receives fairly high marks from users for its mobile banking services. The Bank of Eastern Oregon mobile app has an overall rating of 4.2 out of 5 (out of 14 ratings on iOS and Android) compared to the national average of 3.8. You can utilize Bank of Eastern Oregon's app to control your accounts by checking current statements, sending and receiving money and accessing customer service. Bank of Eastern Oregon receives an excellent consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

3.9
SmartAsset Average: 4.8

Bank of Eastern Oregon is currently a medium-size bank and manages $414 million in assets as well as deposits totaling $371 million. It has a good Texas Ratio of 22.09%, indicating that the bank is in fine financial shape. Additionally, Bank of Eastern Oregon is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

22.09%
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 Bank of Eastern Oregon to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.50% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.51% APY
  • 60 Month: 2.02% APY
$500 for all terms
Money Market Account 0.05% APY $25000

Bank of Eastern Oregon has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Bank of Eastern Oregon 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. Bank of Eastern Oregon's CD rates are fair in comparison to other U.S. banks.

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Find a Bank of Eastern Oregon Near Me

Bank of Eastern Oregon has 15 physical branches in the U.S.

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