Century Bank (NM) Review

Century Bank Savings

0.03% APY

Century Bank started in 1910 and its headquarters are located in Santa Fe, New Mexico. It has $1.43 billion in assets as well as deposits totaling $1.3 billion, ranking it as a medium-size bank. Century Bank does not have the access to customer service other banks offer. It is a traditional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. With a commendable 4.3 out of 5 stars, Century Bank is a great choice and should warrant serious consideration. 

Century Bank provides customers with a diverse array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Century Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Century Bank's most basic checking does not carry a monthly fee. Why use checking and savings accounts with one bank? Convenient transferring between both accounts means you can still get better interest rates in your savings account but still access your funds from your checking.

Service Quality

Century Bank is a brick-and-mortar bank, with nine total bank locations in New Mexico. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. MT. 

Century Bank's online and mobile banking platforms receive positive feedback from customers: the Century Bank mobile app has been given a 4.1 out of 5 (out of 47 customer reviews on iOS and Android) compared to the national average of 3.8. You can access Century Bank's mobile app to manage your funds by looking at monthly statements, sending and receiving money as well as reaching customer service. Century Bank gets an excellent consumer satisfaction rating based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency. 

Products Offered

Century Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Century Bank does not have the best savings rate, which means you should think about 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. Century Bank's CD rates are competitive compared to other U.S. banks. 

Rates

With a savings rate of 0.03%, Century Bank ranks below the mean in comparison to other U.S. banks. Century Bank's one-year CD earns at a rate of 4.00% and the five-year CD earns at a rate of 3.00%, while its highest-yielding money market account has a rate of 0.03%. It has a fair savings rate, which means other popular banks have higher rates. Consider taking a look at other banks for savings accounts.

Fees

Century Bank charges customers extremely low fees in comparison to other U.S. banks. Century Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. 

Financial Health

Century Bank is a medium-size bank and handles assets totaling $1.43 billion and $1.3 billion in deposits. It has a very good Texas Ratio of 22.72%, suggesting a tiny opportunity of failure. Additionally, Century Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Century Bank Near Me

Century Bank has nine physical locations in the U.S.