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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. Community Savings Bank owns $402 million in assets along with deposits totaling $338 million, classifying it as a small bank. Community Savings Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, Community Savings Bank is a good bank that gets the job done, with a score of 3.9 out of 5 stars from our experts. Community Savings Bank provides customers with a full array 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 compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly maintenance fee. Locating a bank with no-fee checking as well as a high interest rate savings account is the best bet for returning the most income from your deposits while having convenient 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 in comparison to other U.S. banks. Community Savings Bank's CD rates are 0.75% and 2.80% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.17%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.

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 has typically extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Community Savings Bank unfortunately doesn't refund out-of-network ATM charges, which means you'll be required to locate a Community Savings Bank ATM or pay 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 Savings Bank is a brick-and-mortar bank, with two total branches in Illinois. It also offers access to mobile and web apps for an easy mobile-banking experience. You can utilize Community Savings Bank's mobile app to control your bank accounts by reviewing account balances, sending and receiving money as well as reaching customer service. Community Savings Bank receives a superb consumer satisfaction score based on relatively few consumer complaints reported to 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 with $402 million in assets and $338 million in deposits. Its Texas Ratio is 1.42%, indicating a low chance 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: 0.75% APY
  • 60 Month: 2.80% APY
$10000 for all terms
Money Market Account 0.1% APY $2501

Community Savings Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Community 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. Community Savings Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Community Savings Bank Near Me

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

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