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Community Bank Review

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Community Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Community Bank was founded in 1866 and has its headquarters in Canton, New York. It manages assets of $11 billion along with $9 billion in deposits, making it a large bank. Community 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 in-person service, in addition to its online and mobile offerings. Overall, Community Bank is a respectable bank that gets the job done, with a rating of 4.1 out of 5 stars from the SmartAsset experts. Community Bank offers a full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Community Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's standard checking account does not have a monthly maintenance fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is the best bet for getting the most income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.05%, Community Bank ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 0.30% and the five-year CD earns at a rate of 0.90%, while its highest-yielding money market account has an APY of 0.07%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

How Community Bank's Savings Rates Compare

Community Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Community Bank charges customers extremely low fees compared to other U.S. banks. Community Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Community Bank unfortunately doesn't refund out-of-network ATM fees, which means you'll need to search for a Community Bank ATM or accept the withdrawal fee.

Monthly Fee $0 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

SmartAsset Average: 3.7

Community Bank is a brick-and-mortar bank, with 230 total branches in Massachusetts, New York, Pennsylvania and Vermont. With mobile and web apps, Community Bank makes mobile banking straightforward, even on the go. It does not have all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Thursday, 9:00 a.m. to 4:30 p.m. ET; Friday, and 9:00 a.m. to 5:30 p.m. ET. Community Bank gets poor feedback from customers for its online presence. The Community Bank mobile app is rated at 3.4 out of 5 (out of 520 ratings on Apple and Android) compared to the national average of 3.8. Community Bank's mobile app lets you manage your finances by checking monthly statements, sending and receiving funds as well as reaching support representatives. Community Bank receives a superb consumer satisfaction score based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Community Bank is currently a large bank with assets totaling $11 billion and deposits totaling $9 billion. Its Texas Ratio is 1.88%, denoting a negligible chance of failure. Additionally, Community 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 Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.01% APY $1
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.40% APY
  • 36 Month: 0.60% APY
  • 48 Month: 0.65% APY
  • 60 Month: 0.90% APY
$1000 for all terms
Money Market Account 0.05% APY $10000

Community Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Community Bank does not have the best savings rate, which means you should consider looking elsewhere 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. Community Bank's CD rates are fair compared to the average U.S. bank.

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Find a Community Bank Near Me

Community Bank has 230 locations across the U.S.

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