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CIBM 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
CIBM Bank Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1921, CIBM Bank has $657 million in assets along with deposits totaling $484 million, which makes it a medium-size bank. CIBM Bank, whose headquarters are in Champaign, Illinois, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Overall, CIBM Bank is an exceptional bank that you should strongly consider, with a score of 4.5 stars out of 5 from our team. CIBM Bank offers a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. CIBM Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, CIBM Bank offers an option without a maintenance or monthly fee. Institutions that offer free checking as well as a high savings APY are your best option for returning the highest income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.9
SmartAsset Average: 3.5

CIBM Bank features a savings rate of 0.35%, which is fair in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 2.00% and 1.85%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given CIBM Bank's below average savings rate, you should think about looking elsewhere to open savings accounts.

How CIBM Bank's Savings Rates Compare

CIBM Bank Savings 0.35 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, CIBM Bank charges customers extremely low fees compared to the national average. With no monthly fee, CIBM Bank's checking account is perfect for those who want an easy checking account. CIBM Bank unfortunately does not reimburse out-of-network ATM charges, which means you will be required to find a CIBM Bank ATM or pay 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

4.1
SmartAsset Average: 3.7

CIBM Bank is a brick-and-mortar bank, with 11 total bank locations in Illinois, Indiana and Wisconsin. With mobile and web apps, CIBM Bank makes mobile banking straightforward, even on the go. CIBM Bank receives relatively high marks from users for its mobile banking services. The CIBM Bank mobile app scored a 4.3 out of 5 (with 42 customer reviews on iOS and Android) compared to the national average of 3.8. CIBM Bank's mobile app allows you to manage your finances by reviewing monthly statements, transferring funds as well as reaching customer service. CIBM Bank gets an excellent consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

CIBM Bank is currently a medium-size bank owning $657 million in assets and deposits totaling $484 million. CIBM Bank has a strong Texas Ratio of 5.56%, denoting a small possibility of failure. Additionally, CIBM Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.56%
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 CIBM Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.35% APY $500
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 2.00% APY
  • 24 Month: 1.40% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.75% APY
  • 60 Month: 1.85% APY
$500 for all terms
Money Market Accounts 0.12% APY 0.15% APY $10000 $15000

CIBM Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. CIBM Bank does not have the best savings rate, which means you should think about other options 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. CIBM Bank's CD rates are fair in comparison to the national average.

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Find a CIBM Bank Near Me

CIBM Bank has 11 physical locations in the U.S.

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