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CorTrust Bank National Association Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
CorTrust Bank National Association Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1930, CorTrust Bank National Association has assets totaling $796 million along with $693 million in deposits, classifying it as a medium-size bank. CorTrust Bank National Association, whose headquarters are in Mitchell, South Dakota, lacks premium access to support representatives, 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. Overall, CorTrust Bank National Association is a great choice and should warrant serious consideration, with a score of 4.3 out of 5 stars from our team. CorTrust Bank National Association offers a variety of banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, CorTrust Bank National Association's ordinary checking account does not have a monthly fee. Institutions that offer no-fee checking and a high interest rate savings account are the best option for returning the highest income from your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.0
SmartAsset Average: 3.5

CorTrust Bank National Association features a savings rate of 0.15%, which is poor compared to the national average. CorTrust Bank National Association's one-year CD has a rate of 2.35% and the five-year CD has a rate of 3.05%. Given its below average savings rate, you should consider other options to earn more on your deposits.

How CorTrust Bank National Association's Savings Rates Compare

CorTrust Bank National Association Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, CorTrust Bank National Association charges its customers extremely low fees in comparison to the average U.S. bank. With no monthly fee, CorTrust Bank National Association's checking account is perfect for those who want an easy banking experience. CorTrust Bank National Association unfortunately does not reimburse out-of-network ATM charges, which means you'll be required to search for a CorTrust Bank National Association ATM or accept 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

3.0
SmartAsset Average: 3.7

CorTrust Bank National Association is a brick-and-mortar bank, with 25 total bank locations in Minnesota and South Dakota. It also offers access to mobile and web apps for easy access and banking on the go. CorTrust Bank National Association gets poor marks from users for its mobile banking services. The CorTrust Bank National Association mobile app rates a 2.3 out of 5 (with 58 customer reviews on Apple and Android) compared to the national average of 3.8. CorTrust Bank National Association's mobile app lets you manage your accounts by checking monthly statements, transferring money as well as reaching customer service. CorTrust Bank National Association gets an outstanding consumer satisfaction score based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

CorTrust Bank National Association ranks as a medium-size bank with assets totaling $796 million and deposits totaling $693 million. Its Texas Ratio is 0.60%, denoting that the bank is in excellent financial health and unlikely to fail. Additionally, CorTrust Bank National Association 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 CorTrust Bank National Association to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 2.35% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.60% APY
  • 48 Month: 2.75% APY
  • 60 Month: 3.05% APY
$500 for all terms

CorTrust Bank National Association has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. CorTrust Bank National Association does not have the best savings rate, which means you should think about taking a look 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. CorTrust Bank National Association's CD rates are fair as compared against the national average.

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Find a CorTrust Bank National Association Near Me

CorTrust Bank National Association has 25 branches across the U.S.

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