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Colorado Federal Savings Bank Review

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Colorado Federal Savings Bank Savings
1.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1990, Colorado Federal Savings Bank has assets totaling $2 billion as well as deposits totaling $1 billion, ranking the institution as a large bank. Colorado Federal Savings Bank, whose headquarters are in Greenwood Villag, Colorado, lacks premium access to support representatives, with no options for live chat or all-day service. Colorado Federal Savings Bank is an online bank, boasting convenient online and mobile access to everything you need, but without the traditional in-person service. With a score of 4.1 stars out of 5, Colorado Federal Savings Bank should be solidly in contention for your choice of bank. Colorado Federal Savings Bank offers product offerings, which include savings accounts, CDs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. Banks that offer no-fee checking as well as a high savings APY are your best bet for getting the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

5.0
SmartAsset Average: 3.5

Colorado Federal Savings Bank has a savings rate of 1.25%, which is poor compared to the national average. Its one-year CD has a rate of 2.51% and the five-year CD earns at a rate of 2.90%. Given Colorado Federal Savings Bank's poor savings rate, you should think about other options to earn more on your deposits.

How Colorado Federal Savings Bank's Savings Rates Compare

Colorado Federal Savings Bank Savings 1.25 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Colorado Federal Savings Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

2.5
SmartAsset Average: 3.7

Colorado Federal Savings Bank is an online-only bank. With a mobile app, Colorado Federal Savings Bank provides easy mobile banking, even from home or work. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 7:00 a.m. to 6:00 p.m. MT. Colorado Federal Savings Bank gets an outstanding consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.9
SmartAsset Average: 4.8

Colorado Federal Savings Bank is a large bank and handles $2 billion in assets and deposits totaling $1 billion. Its Texas Ratio is 2.49%, signifying a low likelihood of failure. Additionally, Colorado Federal Savings 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.

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Compare Colorado Federal Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 1.25% APY $2500
Certificates of Deposit
  • 12 Month: 2.51% APY
  • 24 Month: 2.60% APY
  • 36 Month: 2.63% APY
  • 60 Month: 2.90% APY
$5000 for all terms

Colorado Federal Savings Bank offers a basic array of deposit products including savings accounts and CDs. Colorado Federal Savings Bank does not have the best savings rate, which means you should consider 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. Colorado Federal Savings Bank's CD rates are fair compared to the average U.S. bank.

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Find a Colorado Federal Savings Bank Near Me

Colorado Federal Savings Bank is an online-only bank and has no physical branch locations.

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