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Colorado Federal Savings Bank 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
Colorado Federal Savings Bank Savings
2.00% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Colorado Federal Savings Bank was founded in 1990 with headquarters in Greenwood Villag, Colorado. It has $2 billion in assets along with $1 billion in deposits, making it a large bank. Colorado Federal Savings Bank lacks premium access to customer service, with no options for live chat or all-day service. Colorado Federal Savings Bank is an online bank, boasting convenient online and mobile apps for everything you need, but without the perk of walk-in service. We ranked Colorado Federal Savings Bank at a 4.1 stars out of 5, which means it is a good bank that deserves your consideration. Colorado Federal Savings Bank provides customers with banking products, including savings accounts, CDs and mortgage products. Colorado Federal Savings Bank has a fair savings rate; other popular banks have higher rates. Banks that offer no-fee checking, in addition to a high interest rate savings account are the best option for returning the highest income from your deposits alongside easy access to your funds.

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 2.00%, which is poor as compared against the national average. Colorado Federal Savings Bank's one-year CD has a rate of 2.80% and the five-year CD has a rate of 3.00%. Given its below average savings rate, you should think about taking a look at other banks for savings accounts.

How Colorado Federal Savings Bank's Savings Rates Compare

Colorado Federal Savings Bank Savings 2.00 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 account access, even from home or work. It does not offer all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday and 7:00 a.m. to 6:00 p.m. MT. Colorado Federal Savings Bank receives an excellent consumer satisfaction score based on comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government 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 currently a large bank owning $2 billion in assets as well as deposits totaling $1 billion. Colorado Federal Savings Bank's Texas Ratio is 2.49%, indicating 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 2.0% APY $1
Certificates of Deposit
  • 12 Month: 2.80% APY
  • 24 Month: 2.88% APY
  • 36 Month: 2.88% APY
  • 60 Month: 3.00% APY
$5000 for all terms

Colorado Federal Savings Bank has 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 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. Colorado Federal Savings Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Colorado Federal Savings Bank Near Me

Colorado Federal Savings Bank functions as an online-only bank with no physical locations.

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