Community Bank (PA) Review

Community Bank Savings

0.03% APY

Started in 1901, Community Bank has assets totaling $1.45 million along with deposits totaling $1.28 billion, classifying it as a medium-sized bank. Community Bank, whose headquarters are in Carmichaels, Pennsylvania, 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 apps. SmartAsset has rated Community Bank 3.5 stars out of 5, indicating that it is a decent choice, but with better options out there. 

Community Bank offers a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products, and credit cards. It offers a savings account with an average APY, making it a suitable option if you need a place to stash your money. Why keep checking and savings accounts with the same bank? Quick transferring between the two accounts translates to higher interest rates in your savings account with the ability to spend from your checking.

Service Quality

Community Bank is a brick-and-mortar bank, with 15 total branches in Ohio, Pennsylvania and West Virginia. With a mobile app, Community Bank provides straightforward mobile banking, even from home or work.  

Community Bank receives a superb consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency. 

Products Offered

Community Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs, giving you many options to manage your money. Community Bank 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. Community Bank's CD rates are fair compared to other U.S. banks.

Rates

Community Bank has a savings rate of 0.03%, which is moderate in comparison to the national average. Its CDs feature a rate of 4.55% and 2.02% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.07%. Taking into account that Community Bank has a mediocre savings rate, Community Bank's savings account can be used especially for a key landmark such as retirement.

Fees

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

Financial Health

Community Bank ranks as a medium-sized bank and handles assets totaling $1.45 billion as well as $1.28 billion in deposits. Community Bank has an excellent Texas Ratio of 1.63%, suggesting that the bank is in outstanding financial health and exceedingly improbable to fail. Additionally, Community Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Community Bank Near Me

Community Bank has 15 locations across the U.S.