Citizens Alliance Bank first started operating in 1902 and has its headquarters in Clara City, Minnesota. Citizens Alliance Bank manages $759 million in assets and $676 million in deposits, ranking it as a medium-size bank. Citizens Alliance Bank 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.2 out of 5 stars, Citizens Alliance Bank is a great bank that you should seriously consider. Citizens Alliance Bank offers the full selection 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 maintenance or monthly fee. Finding an institution with free checking, in addition to a high interest rate savings account is the best option for accruing the most income on your deposits while having convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.30%, Citizens Alliance Bank ranks poorly in comparison to other U.S. banks. Citizens Alliance Bank's one-year and five-year term lengths CDs earn at a rate of 1.25% and 2.10%, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given Citizens Alliance Bank's noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.
How Citizens Alliance Bank's Savings Rates Compare
Citizens Alliance Bank has typically extremely low fees compared to other U.S. banks. With no monthly fee, Citizens Alliance Bank's checking account is perfect for those who want an easy checking account. Citizens Alliance Bank unfortunately does not refund out-of-network ATM fees, meaning you'll be required to locate a Citizens Alliance Bank ATM or eat the cost of withdrawal.
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 easy access and banking on the go. Citizens Alliance Bank's online and mobile banking services receive mediocre marks from customers. The Citizens Alliance Bank mobile app is rated at 3.0 out of 5 (with 31 customer reviews on iOS and Android) compared to the national average of 3.8. Citizens Alliance Bank's mobile app allows you to manage your accounts by reviewing account balances, transferring funds as well as reaching support representatives. Citizens Alliance Bank receives a superb consumer satisfaction score based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Citizens Alliance Bank ranks as a medium-size bank and manages $759 million in assets and $676 million in deposits. Citizens Alliance Bank's Texas Ratio is 7.83%, suggesting that the bank is in fine financial well-being and far from 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||0.3% APY||$50|
|Checking Account||0.15% APY||$1500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.35% APY 0.5% APY||$10000 $15000|
Citizens Alliance Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Citizens Alliance 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. Citizens Alliance Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Citizens Alliance Bank Near Me
Citizens Alliance Bank has 10 physical branches in the U.S.Back to Overview