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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 started in 1996 with its headquarters in Omaha, Nebraska. Core Bank owns assets of $464 million along with deposits totaling $369 million, which makes it a medium-size bank. Core Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.2 out of 5 stars, Core Bank is a solid contender in your bank search. Core Bank has a selection of product offerings, 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 interested in stress-free personal checking, Core Bank offers an option without a monthly fee. Institutions that offer free checking as well as a high savings APY are your best bet for accruing the highest income on your deposits while having 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

Core Bank features a savings rate of 0.10%, which is fair as compared against the national average. Core Bank's one-year CD has a rate of 1.31% and the five-year CD earns at a rate of 2.52%, while its highest-yielding money market account earns at a rate 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 typically has extremely low fees compared to the national average. With no monthly fee, Core Bank is ideal for those who want a basic checking account. For those who will need cash in a pinch, it is ideal because it has no out-of-network ATM fees. Core Bank unfortunately doesn't refund out-of-network ATM charges, which means you'll need to locate a Core Bank ATM or eat the fee.

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. With mobile and web apps, Core Bank makes account access straightforward, even on the go. Core Bank receives inferior marks from users for its mobile platform. With 23 ratings on Apple and Android platforms, the Core Bank mobile app is scored at 2.9 out of 5 (compared to the national average of 3.8). Core Bank's mobile app allows you to manage your accounts by checking current statements, transferring money and reaching customer service. Core Bank receives a superb consumer satisfaction rating due to comparatively few complaints brought 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 a medium-size bank owning assets totaling $464 million and $369 million in deposits. Its Texas Ratio is 3.94%, suggesting a low probability 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 Accounts 0.2% APY 0.35% APY $10000 $15000

Core Bank has several deposit products including 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 as compared against the national average.

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Find a Core Bank Near Me

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

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