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Consumers National Bank Review

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Consumers National Bank Savings
0.03% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Founded in 1965, Consumers National Bank has $469 million in assets along with deposits totaling $383 million, ranking it as a medium-size bank. Consumers National Bank, whose headquarters are in Minerva, Ohio, 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 offerings. At a SmartAsset rating of 4 stars out of 5, Consumers National Bank should be near the middle of the pack in your search for a bank. Consumers National Bank offers the full slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Consumers National Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a $3.00 monthly fee, which is acceptable in comparison to the average U.S. bank. Finding an institution with no-fee checking, in addition to a high savings APY is your best option for gaining the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

Consumers National Bank features a savings rate of 0.03%, which is poor compared to the national average. Consumers National Bank's one-year and five-year term lengths CDs earn at a rate of 0.15% and 1.60%, respectively, while its highest-yielding money market account earns at a rate of 0.30%. Given its below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Consumers National Bank's Savings Rates Compare

Consumers National Bank Savings 0.03 National Average 0.26 Compare Offers
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Fees

4.0
SmartAsset Average: 4.4

Consumers National Bank generally has average fees compared to other U.S. banks. At $3.00/month, Consumers National Bank's checking account is less than ideal for people who need an easy checking account. Additionally, Consumers National Bank has an overdraft fee of $33.00, which is lower than the average U.S. overdraft fee. Consumers National Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll be required to locate a Consumers National Bank ATM or eat the cost of withdrawal.

Monthly Fee $3.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $33.00 National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Consumers National Bank is a brick-and-mortar bank, with 13 total bank locations in Ohio. With mobile and web apps, Consumers National Bank makes account access convenient, even on the go. Consumers National Bank receives great feedback from customers for its online presence. With 370 customer reviews on iOS and Android platforms, the Consumers National Bank mobile app has an overall rating of 4.6 out of 5 (compared to the national average of 3.8). You can access Consumers National Bank's mobile app to manage your bank accounts by checking monthly statements, transferring funds as well as reaching support representatives. Consumers National Bank receives an exceptional consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Consumers National Bank ranks as a medium-size bank owning assets totaling $469 million as well as $383 million in deposits. Consumers National Bank's Texas Ratio is 2.02%, denoting that Consumers National Bank is in terrific financial well-being and improbable to fail. Additionally, Consumers National 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 Consumers National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.03% APY $1
Checking Account 0.02% APY $2500
Certificates of Deposit
  • 12 Month: 0.15% APY
  • 24 Month: 0.15% APY
  • 36 Month: 0.50% APY
  • 48 Month: 2.75% APY
  • 60 Month: 1.60% APY
$1000 for all terms
Money Market Account 0.2% APY $1

Consumers National Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Consumers National Bank does not have the best savings rate, which means you should think about 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. Consumers National Bank's CD rates are fair in comparison to the national average.

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Find a Consumers National Bank Near Me

Consumers National Bank has 13 branches across the U.S.

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