Citizens Alliance Bank started in 1902 and its headquarters are located in Clara City, Minnesota. It manages $759 million in assets and deposits totaling $676 million, classifying it as a medium-size bank. Citizens Alliance Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, Citizens Alliance Bank is a solid contender in your bank search, with a rating of 4.2 stars out of 5 from our experts. Citizens Alliance Bank offers a full choice of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Citizens Alliance Bank offers an option without a monthly fee. Institutions that offer free checking and a high savings APY are your best option for getting the highest income from your deposits while having convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.25%, Citizens Alliance Bank ranks poorly compared to the national average. Citizens Alliance Bank's one-year CD has a rate of 1.00% and the five-year CD earns at a rate of 2.00%, while its highest-yielding money market account earns at a rate of 0.40%. Given Citizens Alliance Bank's below average savings rate, you should consider looking elsewhere to open savings accounts.
How Citizens Alliance Bank's Savings Rates Compare
Citizens Alliance Bank generally has extremely low fees compared to the national average. With no monthly fee, Citizens Alliance Bank is perfect for people who want a basic banking experience. Citizens Alliance Bank does not refund out-of-network ATM charges, which means you'll have to search for a Citizens Alliance Bank ATM or pay the fee.
Citizens Alliance Bank is a brick-and-mortar bank, with 10 total branches in Minnesota and Montana. It also offers access to mobile and web apps for an easy mobile-banking experience. Citizens Alliance Bank's online and mobile banking services receive poor marks from users. Out of 31 ratings on both Apple and Android platforms, the Citizens Alliance Bank mobile app has an overall rating of 3.0 out of 5 (compared to the national average of 3.8). Citizens Alliance Bank's mobile app allows you to manage your bank accounts by reviewing account balances, transferring money and accessing customer service. Citizens Alliance Bank gets an outstanding consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Citizens Alliance Bank is a medium-size bank and has assets totaling $759 million as well as deposits totaling $676 million. Its Texas Ratio is 7.83%, signifying a small possibility of failure. Additionally, Citizens Alliance Bank 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 Citizens Alliance Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$50|
|Checking Account||0.15% APY||$1500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.25% APY||$2500|
Citizens Alliance Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Citizens Alliance Bank does not have the best savings rate, which means you should think about taking a look 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. Citizens Alliance Bank's CD rates are fair in comparison to the national average.Back to Overview
Find a Citizens Alliance Bank Near Me
Citizens Alliance Bank has 10 branches across the U.S.Back to Overview