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Citizens First Bank (FL) 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 First Bank Savings
0.10% APY

Overview

Our Rating: 4.4/5 How we calculated this rating

Founded in 1991, Citizens First Bank has $2 billion in assets and $2 billion in deposits, making it a large bank. Citizens First Bank, whose headquarters are in The Villages, Florida, lacks premium access to support representatives, 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 offerings. With a commendable 4.4 out of 5 stars, Citizens First Bank proves it is a solid pick to be your bank. 

Citizens First Bank has a full suite of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Citizens First Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly fee. Keeping accounts in one place is best for getting the highest return on your income while retaining easy access to your money.

Service Quality

Citizens First Bank is a brick-and-mortar bank, with 12 total bank locations in Florida. With mobile and web apps, Citizens First Bank makes mobile banking easy, even on the go.  

Citizens First Bank gets high marks from users for its mobile banking services: with 390 customer reviews on iOS and Android platforms, the Citizens First Bank mobile app has an overall rating of 4.7 out of 5 (compared to the national average of 3.8). Citizens First Bank's mobile app allows you to manage your funds by monitoring monthly statements, sending and receiving funds as well as reaching support representatives. Citizens First Bank gets an outstanding consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.05% APY $100 Compare Offers
Certificates of Deposit
  • 12 Month: 2.05% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.30% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.50% APY
$2,500 for all tiers Compare Offers
Money Market Accounts 10K tier: 0.25% APY $10,000 Compare Offers
Checking Accounts 0.10% APY $10,000 Compare Offers

Citizens First Bank has several deposit products like savings accounts, checking accounts and CDs, providing you with many options to manage your money. It 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. Citizens First Bank's CD rates are stellar in comparison to the average U.S. bank. 

Rates

Citizens First Bank has a savings rate of 0.05%, which is fair in comparison to the average U.S. bank. Citizens First Bank's one-year and five-year term lengths CD's earn at a rate of 2.05% and 2.50%, respectively, while its highest-yielding money market account earns at a rate of 0.20%. Given its poor savings rate, you should contemplate other options to earn more on your deposits.

Compare Citizens First Bank to Other Competitive Offers

Fees

Citizens First Bank generally has low fees as compared against the national average. With no monthly fee, Citizens First Bank's checking account is ideal for people who need an easy checking account. Additionally, at $35, its overdraft fee is lower than that of other U.S. banks. 

Financial Health

Citizens First Bank ranks as a large bank and manages assets totaling $2 billion and deposits totaling $2 billion. Citizens First Bank's Texas Ratio is 0.74%, denoting an exceptionally small likelihood of failure. Additionally, Citizens First Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Citizens First Bank Near Me

Citizens First Bank has 12 branches across the U.S.

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