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Community Savings Bank Review

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


Community Savings Bank was founded in 1925 with headquarters located in Chicago, Illinois. It owns assets of $402 million as well as $338 million in deposits, making it a small bank. Community Savings Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 3.9 stars out of 5, Community Savings Bank should be near the middle of the pack in your search for a bank. Community Savings Bank offers a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Community Savings Bank offers an option without a maintenance or monthly fee. Institutions that offer free checking as well as a high interest rate savings account are the best option for returning the highest income on your deposits while maintaining easy access to your money.

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 Savings Bank ranks poorly compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.25% and 2.80%, respectively, while its highest-yielding money market account has a rate of 0.28%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Community Savings Bank's Savings Rates Compare

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

Community Savings Bank typically has extremely low fees compared to other U.S. banks. With no monthly fee, Community Savings Bank's checking account is perfect for people who want a hassle-free checking account. Community Savings Bank unfortunately does not reimburse out-of-network ATM fees, which means you'll need to search for a Community Savings Bank ATM or pay the ATM charge.

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 Savings Bank is a brick-and-mortar bank, with two total branches in Illinois. It also offers access to mobile and web apps for a simple mobile-banking experience. You can access Community Savings Bank's mobile app to manage your finances by monitoring account balances, sending and receiving money as well as accessing customer service. Community Savings Bank receives an outstanding consumer satisfaction score based on comparatively few consumer 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 No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Community Savings Bank is currently a small bank owning $402 million in assets as well as deposits totaling $338 million. Its Texas Ratio is 1.42%, suggesting a minute possibility of failure. Additionally, Community 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 Community Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 1.25% APY
  • 60 Month: 2.80% APY
$10000 for all terms
Money Market Account 0.24% APY $2501

Community Savings 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 Savings Bank does not have the best savings rate, which means you should think about taking a look 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 Savings Bank's CD rates are fair as compared against the national average.

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Find a Community Savings Bank Near Me

Community Savings Bank has two physical branches across the U.S.

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