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Core Bank Review

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Core Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Core Bank was founded in 1996 with headquarters in Omaha, Nebraska. Core Bank owns assets of $464 million as well as deposits totaling $369 million, which makes it a medium-size bank. Core 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 apps. SmartAsset has rated the bank 4.2 stars out of 5, which means Core Bank is a great bank that you should seriously consider. Core Bank provides customers with an array banking products, including savings accounts, checking accounts, money market accounts, IRAs and mortgage products. Core Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Core Bank's standard checking account does not carry a monthly maintenance charge. Finding a bank with free checking, in addition to a high interest rate savings account is your best option for gaining the most income from your deposits while maintaining 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

3.6
SmartAsset Average: 3.5

With a savings rate of 0.10%, Core Bank ranks poorly as compared against the national average. Core Bank's one-year CD earns at a rate of 1.31% and the five-year CD has a rate of 2.52%, while its highest-yielding money market account earns at an APY of 0.35%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Core Bank's Savings Rates Compare

Core Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Core Bank has typically extremely low fees compared to other U.S. banks. Core Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who often visit the ATM, Core Bank is perfect because it has no out-of-network ATM fees. Core Bank does not refund out-of-network ATM fees, which means you'll need to search for a Core Bank ATM or eat the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.4
SmartAsset Average: 3.7

Core Bank is a brick-and-mortar bank, with nine total bank locations in Kansas and Nebraska. It also offers access to mobile and web apps for easy access and banking on the go. Core Bank receives inferior reviews from customers for its mobile platform. Out of 23 ratings on Apple and Android platforms, the Core Bank mobile app has an overall rating of 2.9 out of 5 (compared to the national average of 3.8). Core Bank's mobile app allows you to control your bank accounts by checking monthly statements, transferring funds and accessing support representatives. Core Bank receives a superb consumer satisfaction rating based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 2.9/5
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

Core Bank is currently a medium-size bank and manages $464 million in assets and $369 million in deposits. Core Bank's Texas Ratio is 3.94%, indicating a low possibility of failure. Additionally, Core Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.94%
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 Core Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 1.31% APY
  • 24 Month: 1.81% APY
  • 36 Month: 2.27% APY
  • 48 Month: 1.41% APY
  • 60 Month: 2.52% APY
$1000 for all terms
Money Market Account 0.2% APY $1000

Core Bank has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Core Bank does not have the best savings rate, which means you should think about 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. Core Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Core Bank Near Me

Core Bank has nine physical locations across the U.S.

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