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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

Founded in 1903, Community State Bank has assets totaling $361 million and $324 million in deposits, making the institution a small bank. Community State Bank, whose headquarters are in Union Grove, Wisconsin, 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 in-person service, in addition to its online and mobile offerings. With a commendable 4.2 stars out of 5, Community State Bank proves it is a solid pick to be your bank. Community State Bank has a complete array of product offerings, 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 interested in stress-free personal checking, Community State Bank's standard checking does not carry a monthly fee. Finding a bank with no-fee checking, in addition to a high interest rate savings account is the best option for accruing the highest income from your deposits alongside convenient access to your funds.

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 compared to the national average. Community State Bank's one-year CD has a rate of 0.45% and the five-year CD earns at a rate of 1.20%, while its highest-yielding money market account earns at a rate of 0.45%. Given Community State Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

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

Community State Bank generally has extremely low fees compared to other U.S. banks. Community State Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Community State Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to locate a Community State Bank ATM or eat 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

3.6
SmartAsset Average: 3.7

Community State Bank is a brick-and-mortar bank, with seven total branches in Wisconsin. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its customer service 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's online and mobile banking platforms receive mediocre marks from customers. The Community State Bank mobile app is rated at 3.4 out of 5 (out of 20 ratings on Apple and Android) compared to the national average of 3.8. Community State Bank's mobile app allows you to manage your finances by reviewing account balances, sending and receiving funds and reaching customer service. Community State Bank receives an excellent consumer satisfaction rating based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed 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

4.6
SmartAsset Average: 4.8

Community State Bank is a small bank owning $361 million in assets and $324 million in deposits. Community State Bank has a strong Texas Ratio of 9.40%, suggesting that Community State Bank is in good financial health and far from failure. 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 Account 0.35% APY $10001

Community State 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 State 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 State Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Community State Bank Near Me

Community State Bank has seven branches in the U.S.

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