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Benchmark Community Bank Review

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Benchmark Community Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Benchmark Community Bank was founded in 1971 and has its headquarters in Kenbridge, Virginia. Benchmark Community Bank has $595 million in assets and $526 million in deposits, which makes it a medium-size bank. Benchmark Community Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. On the whole, Benchmark Community Bank is a great choice and should warrant serious consideration, with a rating of 4.3 stars out of 5 from our experts. Benchmark Community Bank provides customers with a choice of banking products, which include savings accounts, checking accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It 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 fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution 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

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.25%, Benchmark Community Bank ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 0.60% and the five-year CD earns at a rate of 1.50%, while its highest-yielding money market account earns at an APY of 0.30%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Benchmark Community Bank's Savings Rates Compare

Benchmark Community Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Benchmark Community Bank typically has extremely low fees as compared against the national average. With no monthly fee, Benchmark Community Bank's checking account is perfect for people who want an easy checking account. Benchmark Community Bank doesn't reimburse out-of-network ATM fees, which means you will have to locate a Benchmark Community Bank ATM or eat the ATM charge.

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

SmartAsset Average: 3.7

Benchmark Community Bank is a brick-and-mortar bank, with 14 total bank locations in North Carolina and Virginia. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Benchmark Community Bank's online and mobile banking platforms receive positive feedback from customers. With 710 customer reviews on iOS and Android platforms, the Benchmark Community Bank mobile app is scored at 4.7 out of 5 (compared to the national average of 3.8). You can access Benchmark Community Bank's app to manage your accounts by checking current statements, transferring money as well as accessing support representatives. Benchmark Community Bank receives an exceptional consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Benchmark Community Bank ranks as a medium-size bank and manages assets totaling $595 million and deposits totaling $526 million. Benchmark Community Bank has a strong Texas Ratio of 9.16%, indicating a small opportunity of failure. Additionally, Benchmark Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Benchmark Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $100
Checking Account 0.1% APY $500
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.85% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.50% APY
$500 for all terms
Money Market Account 0.25% APY $1

Benchmark Community Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. Benchmark Community Bank does not have the best savings rate, which means you should consider 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. Benchmark Community Bank's CD rates are fair as compared against the national average.

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Find a Benchmark Community Bank Near Me

Benchmark Community Bank has 14 physical branches across the U.S.

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