Cache Valley Bank Review

Cache Valley Bank Savings

0.25% APY

Cache Valley Bank was founded in 1975 and has its headquarters in Logan, Utah. It manages assets totaling $1 billion as well as $976 million in deposits, classifying it as a medium-size bank. Cache Valley Bank lacks premium access to customer service, with no options of 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. With a commendable 4.3 out of 5 stars, Cache Valley Bank is a solid contender in your bank search. 

Cache Valley Bank offers a complete choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It offers a standard savings account APY, making it a suitable option if you need a superior place to store your money than a checking account. If you're interested in stress-free personal checking, Cache Valley Bank offers an option without a maintenance or monthly fee. Why use checking and savings accounts with the same bank? Seamless transferring of funds between both accounts translates to better interest rates in your savings account with the ability to spend from your checking.

Service Quality

Cache Valley Bank is a brick-and-mortar bank, with 14 total bank locations in Utah. It also offers access to mobile and web apps for simple access and banking on the go.  

Cache Valley Bank receives fair feedback from customers for its online presence: with 31 ratings across both iOS and Android platforms, the Cache Valley Bank mobile app has an overall rating of 3.6 out of 5 (compared to the national average of 3.8). You can access Cache Valley Bank's app to manage your bank accounts by checking account balances, transferring money and reaching customer service. Cache Valley Bank receives an outstanding consumer satisfaction score based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Cache Valley Bank has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, giving you many options to manage your money. Cache Valley Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Cache Valley Bank's CD rates are competitive compared to the national average.

Rates

Cache Valley Bank has a savings rate of 0.25%, which is moderate compared to the average U.S. bank. Cache Valley Bank's one-year CD earns at a rate of 1.75% and the five-year CD has a rate of 0.35%, while its highest-yielding money market account has a rate of 0.30%. Given that Cache Valley Bank offers a mediocre APY, Cache Valley Bank's savings account is ideal if you would like to prepare for a significant occasion such as retirement.

Fees

Cache Valley Bank has generally extremely low fees as compared against the national average. Cache Valley Bank's checking account has no monthly fee, making it excellent for anyone looking for a simple account. 

Financial Health

Cache Valley Bank is currently a medium-size bank owning assets totaling $1 billion and deposits totaling $976 million. Cache Valley Bank's Texas Ratio is 7.89%, signifying a tiny chance of failure. Additionally, Cache Valley Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Cache Valley Bank Near Me

Cache Valley Bank has 14 locations across the U.S.