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Community State Bank Review

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Community State Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Community State Bank started in 1903 and has its headquarters in Union Grove, Wisconsin. It manages $361 million in assets and $324 million in deposits, making it a small bank. Community State Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.2 out of 5 stars, Community State Bank is a great choice and should warrant serious consideration. Community State Bank has a variety of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Community State 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 most basic checking account does not carry a monthly fee. Using an institution with free checking as well as a high interest rate savings account is the best option for gaining the highest income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

With a savings rate of 0.30%, Community State Bank ranks poorly in comparison to the average U.S. bank. Community State Bank's one-year and five-year term lengths CDs earn at a rate of 0.45% and 1.20%, respectively, while its highest-yielding money market account earns at an APY of 0.45%. Given Community State Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How Community State Bank's Savings Rates Compare

Community State Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Community State Bank charges its customers extremely low fees compared to other U.S. banks. Its checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Community State Bank unfortunately does not refund out-of-network ATM charges, meaning you will need to search for a Community State Bank ATM or eat the 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

3.6
SmartAsset Average: 3.7

Community State Bank is a brick-and-mortar bank, with seven total bank locations in Wisconsin. With mobile and web apps, Community State Bank makes mobile banking straightforward, even on the go. It does not offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. CT; Saturday, and 9:00 a.m. to 12:00 p.m. CT. Community State Bank gets unsatisfactory feedback from users for its mobile platform. With 20 customer reviews on both iOS and Android platforms, the Community State Bank mobile app has an overall rating of 3.4 out of 5 (compared to the national average of 3.8). You can utilize Community State Bank's mobile app to manage your accounts by checking account balances, sending and receiving money as well as accessing support representatives. Community State Bank receives a superb consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.6
SmartAsset Average: 4.8

Community State Bank is a small bank owning assets totaling $361 million and deposits totaling $324 million. Community State Bank's Texas Ratio is 9.40%, signifying that the bank is in good financial shape and improbable to fail. Additionally, Community State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.4%
High Risk 75% 50% 20% 10% Low Risk

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 State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $200
Checking Account 0.35% APY $1000
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.80% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.20% APY
$5000 for all terms
Money Market Accounts 0.35% APY 0.45% APY $10000 $15000

Community State Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Community State 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 State Bank's CD rates are fair compared to the average U.S. bank.

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Find a Community State Bank Near Me

Community State Bank has seven physical locations across the U.S.

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