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Cape Cod Co-operative Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
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 was founded in 1921 with headquarters located in Yarmouth Port, Massachusetts. Cape Cod Co-operative Bank manages assets of $921 million along with $795 million in deposits, classifying 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 apps. With a commendable 4.2 out of 5 stars, Cape Cod Co-operative Bank proves it is a solid pick to be your bank. Cape Cod Co-operative Bank has a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Cape Cod Co-operative Bank's standard checking account does not have a monthly maintenance 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 returning the most income from your deposits alongside easy 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

With a savings rate of 0.10%, Cape Cod Co-operative Bank ranks poorly as compared against the national average. Its CD rates are 0.40% and 1.50% for the one-year and five-year term lengths, respectively. Given Cape Cod Co-operative Bank's poor savings rate, you should consider looking at the competition to open savings accounts.

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

Cape Cod Co-operative Bank typically has extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Cape Cod Co-operative Bank doesn't refund out-of-network ATM fees, meaning you'll have to find a Cape Cod Co-operative Bank ATM or accept 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

4.0
SmartAsset Average: 3.7

Cape Cod Co-operative Bank is a brick-and-mortar bank, with 12 total bank locations in Massachusetts. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its 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 gets relatively satisfactory ratings from users for its mobile platform. The Cape Cod Co-operative Bank mobile app has an overall rating of 4.1 out of 5 (out of 29 reviews on Apple and Android) compared to the national average of 3.8. Cape Cod Co-operative Bank's mobile app allows you to manage your finances by looking at current statements, sending and receiving money and reaching customer service. Cape Cod Co-operative Bank gets an excellent consumer satisfaction score due to relatively few consumer complaints registered 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 owning assets totaling $921 million as well as deposits totaling $795 million. Cape Cod Co-operative Bank's Texas Ratio is 9.71%, indicating that Cape Cod Co-operative Bank is in fine financial health and unlikely to fail. 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 consider 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 physical locations in the U.S.

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