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Citizens Bank (OR) 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
Citizens Bank (OR) Savings
0.01% APY

Overview

Our Rating: 4.0/5 How we calculated this rating

Citizens Bank started in 1957 and is headquartered in Corvallis, Oregon. Citizens Bank owns assets totaling $771 million as well as $657 million in deposits, ranking it as a medium-size bank. Citizens Bank lacks premium access to customer service, with no options of live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at an average 4 stars out of 5, Citizens Bank is a respectable bank that should be given a look. 

Citizens Bank has the complete package of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product carries a monthly fee of $6.00, which may be better for customers that will always carry a large balance. Using one bank for checking and savings is best for getting the most return on your money while keeping easy control over your money.

Service Quality

Citizens Bank is a brick-and-mortar bank, with 16 total branches in Oregon. With mobile and web apps, Citizens Bank makes account access convenient, even on the go.  

Citizens Bank's online and mobile banking services receive high praise from users: the Citizens Bank mobile app is rated at 4.8 out of 5 (with 6 reviews on iOS and Android) compared to the national average of 3.8. You can access Citizens Bank's app to manage your funds by checking account balances, transferring money as well as reaching customer service. Citizens Bank gets an exceptional consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.01% APY $1 Compare Offers
Certificates of Deposit
  • 12 Month: 0.05% APY
  • 24 Month: 0.08% APY
  • 36 Month: 0.12% APY
  • 48 Month: 0.16% APY
  • 60 Month: 0.20% APY
$2,500 for all tiers Compare Offers
Money Market Accounts 10K tier: 0.02% APY  $1 Compare Offers
Checking Accounts 0.01% APY $1 Compare Offers

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

Rates

Citizens Bank features a savings rate of 0.01%, which is poor compared to the average U.S. bank. Its CD rates are 0.05% and 0.20% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.02%. Given Citizens Bank's noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

Compare Citizens Bank (OR) to Other Competitive Offers

Fees

On average, Citizens Bank charges customers average fees compared to the average U.S. bank. Citizens Bank's checking account has a monthly fee of $6.00, making it fair for anyone looking for a simple account. For those who will need cash in a pinch, Citizens Bank is ideal because it charges no ATM fees. 

Financial Health

Citizens Bank ranks as a medium-size bank with $771 million in assets as well as $657 million in deposits. Citizens Bank has a very good Texas Ratio of 5.00%, signifying that Citizens Bank is in fine financial health and improbable to fail. Additionally, Citizens Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Citizens Bank Near Me

Citizens Bank has 16 physical branches across the U.S.

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