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Cape Cod Co-operative Bank Review

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Cape Cod Co-operative Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Cape Cod Co-operative Bank started in 1921 with headquarters in Yarmouth Port, Massachusetts. Cape Cod Co-operative Bank manages $921 million in assets as well as deposits totaling $795 million, ranking it as a medium-size bank. Cape Cod Co-operative 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 in-person service, in addition to its online and mobile offerings. With a score of 4.2 out of 5 stars, Cape Cod Co-operative Bank should be solidly in contention for your choice of bank. Cape Cod Co-operative Bank offers the complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Cape Cod Co-operative Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Cape Cod Co-operative Bank offers an option without a maintenance or monthly fee. Banks that offer free checking, in addition to a high interest rate savings account are the best option for gaining the most income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
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

Cape Cod Co-operative Bank features a savings rate of 0.10%, which is poor in comparison to the national average. Cape Cod Co-operative Bank's CDs feature a rate of 0.40% and 1.50% for the one-year and five-year term lengths, respectively. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Cape Cod Co-operative Bank's Savings Rates Compare

Cape Cod Co-operative Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Cape Cod Co-operative Bank charges customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, Cape Cod Co-operative Bank's checking account is perfect for those who want a hassle-free checking account. Cape Cod Co-operative Bank doesn't refund out-of-network ATM charges, which means you'll need to search for a Cape Cod Co-operative Bank ATM or accept 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

4.0
SmartAsset Average: 3.7

Cape Cod Co-operative Bank is a brick-and-mortar bank, with 12 total branches in Massachusetts. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not provide access to all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Wednesday, 8:00 a.m. to 4:30 p.m. ET; Thursday through Friday, 8:00 a.m. to 7:00 p.m. ET; Saturday, and 8:00 a.m. to 2:00 p.m. ET. Cape Cod Co-operative Bank's online and mobile banking services get moderately high scores from customers. With 29 ratings on Apple and Android platforms, the Cape Cod Co-operative Bank mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). Cape Cod Co-operative Bank's mobile app lets you control your accounts by checking monthly statements, transferring money and accessing customer service. Cape Cod Co-operative Bank gets an outstanding consumer satisfaction score based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Cape Cod Co-operative Bank ranks as a medium-size bank and owns $921 million in assets as well as $795 million in deposits. Cape Cod Co-operative Bank's Texas Ratio is 9.71%, denoting a small possibility of failure. Additionally, Cape Cod Co-operative Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.71%
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 Cape Cod Co-operative Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $10
Checking Account 0.1% APY $10
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.90% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.50% APY
$500 for all terms

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

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Find a Cape Cod Co-operative Bank Near Me

Cape Cod Co-operative Bank has 12 branches across the U.S.

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