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Bank of Sun Prairie Review

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Bank of Sun Prairie Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Bank of Sun Prairie was founded in 1903 and has its headquarters in Sun Prairie, Wisconsin. It owns $385 million in assets as well as $303 million in deposits, which makes it a small bank. Bank of Sun Prairie 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 apps. Overall, Bank of Sun Prairie is a good bank that gets the job done, with a rating of 4.1 out of 5 stars from the SmartAsset team. Bank of Sun Prairie offers a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Bank of Sun Prairie has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Bank of Sun Prairie offers an option without a monthly fee. Finding a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is your best option for accruing the most income from your deposits while maintaining easy 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

3.0
SmartAsset Average: 3.5

With a savings rate of 0.07%, Bank of Sun Prairie ranks poorly in comparison to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.50% and 1.35%, respectively, while its highest-yielding money market account has a rate of 0.20%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.

How Bank of Sun Prairie's Savings Rates Compare

Bank of Sun Prairie Savings 0.07 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Bank of Sun Prairie typically has extremely low fees compared to the average U.S. bank. With no monthly fee, Bank of Sun Prairie's checking account is ideal for people who want an easy checking account. Bank of Sun Prairie unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll have to find a Bank of Sun Prairie ATM or eat 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

3.5
SmartAsset Average: 3.7

Bank of Sun Prairie is a brick-and-mortar bank, with four total branches in Wisconsin. With mobile and web apps, Bank of Sun Prairie makes mobile banking easy, even on the go. Bank of Sun Prairie gets poor marks from users for its mobile platform. Out of 17 customer reviews across iOS and Android platforms, the Bank of Sun Prairie mobile app is scored at 3.2 out of 5 (compared to the national average of 3.8). You can use Bank of Sun Prairie's app to manage your accounts by checking monthly statements, transferring money as well as accessing support representatives. Bank of Sun Prairie gets a superb consumer satisfaction score due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Bank of Sun Prairie ranks as a small bank with $385 million in assets and deposits totaling $303 million. Bank of Sun Prairie's Texas Ratio is 4.05%, denoting a negligible likelihood of failure. Additionally, Bank of Sun Prairie is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.05%
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 Sun Prairie to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $1
Checking Account 0.04% APY $1
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.65% APY
  • 36 Month: 0.85% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.35% APY
$500 for all terms
Money Market Account 0.2% APY $10000

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

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Find a Bank of Sun Prairie Near Me

Bank of Sun Prairie has four physical branches across the U.S.

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