Started in 2006, Carter Bank & Trust has assets totaling $4 billion as well as deposits totaling $4 billion, making the institution a large bank. Carter Bank & Trust, whose headquarters are in Martinsville, Virginia, lacks premium access to customer service, 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. We gave Carter Bank & Trust a 3.9 stars out of 5, suggesting it is a respectable bank that you should consider. Carter Bank & Trust has a complete suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Carter Bank & Trust offers an option without a monthly fee. Finding a bank with no-fee checking and a high savings APY is your best bet for getting the most income on your deposits while maintaining easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Carter Bank & Trust features a savings rate of 0.30%, which is fair as compared against the national average. Carter Bank & Trust's one-year CD has a rate of 1.76% and the five-year CD has a rate of 2.53%, while its highest-yielding money market account has a rate of 0.55%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.
How Carter Bank & Trust's Savings Rates Compare
Carter Bank & Trust charges customers extremely low fees compared to the national average. Its checking account has no monthly fee, making it excellent for anyone looking for a simple account. Carter Bank & Trust unfortunately does not reimburse out-of-network ATM charges, meaning you'll be required to locate a Carter Bank & Trust ATM or accept the withdrawal fee.
Carter Bank & Trust is a brick-and-mortar bank, with 107 total bank locations in North Carolina and Virginia. Unfortunately, it does not offer a mobile or web app, which means customers are restricted to in-person customer service and access It does not provide access to all-day customer service with representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 8:00 p.m. ET; Saturday, and 9:00 a.m. to 5:00 p.m. ET. Carter Bank & Trust receives an exceptional consumer satisfaction score based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Carter Bank & Trust is currently a large bank with $4 billion in assets and $4 billion in deposits. Carter Bank & Trust's Texas Ratio is 28.51%, denoting that Carter Bank & Trust is in fine financial condition. Additionally, Carter Bank & Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
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.Back to Overview
Compare Carter Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.3% APY||$2500|
|Checking Account||0.35% APY||$500|
|Certificates of Deposit|| ||$100 for all terms|
|Money Market Account||0.45% APY||$2500|
Carter Bank & Trust offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Carter Bank & Trust 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. Carter Bank & Trust's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Carter Bank & Trust Near Me
Carter Bank & Trust has 107 branches across the U.S.Back to Overview