CresCom Bank first started operating in 2001 with headquarters located in Charleston, South Carolina. CresCom Bank has $4 billion in assets along with deposits totaling $3 billion, ranking it as a large bank. CresCom Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4.1 stars out of 5, CresCom Bank proves it is a respectable bank that gets the job done.
CresCom Bank has a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. CresCom Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, CresCom Bank offers an option without a monthly fee. Why have checking and savings accounts with the same bank? Convenient transferring between the two accounts translates to better interest rates in your savings account with the ability to spend from your checking.
CresCom Bank is a brick-and-mortar bank, with 61 total bank locations in North Carolina and South Carolina. With mobile and web apps, CresCom Bank makes mobile banking easy, even on the go.
CresCom Bank gets mediocre feedback from customers for its mobile app: out of 130 ratings on iOS and Android platforms, the CresCom Bank mobile app has an overall rating of 3.1 out of 5 (compared to the national average of 3.8). You can access CresCom Bank's app to control your funds by checking account balances, transferring funds and accessing support representatives. CresCom Bank gets an excellent consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Accounts||0.40% APY||$2,500||Compare Offers|
|Certificates of Deposit|| ||$1,000 for all tiers||Compare Offers|
|Money Market Accounts||10K tier: 0.75% APY||$10,000||Compare Offers|
|Checking Accounts||0.20% APY||$1,500||Compare Offers|
CresCom Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs, providing you with many options to manage your money. It does not have the best savings rate, which means you should consider looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. CresCom Bank's CD rates are fair as compared against the national average.
With a savings rate of 0.40%, CresCom Bank ranks below the mean compared to the national average. Its one-year CD earns at a rate of 0.65% and the five-year CD earns at a rate of 1.20%, while its highest-yielding money market account earns at an APY of 0.75%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.
Compare CresCom Bank to Other Competitive Offers
CresCom Bank charges its customers extremely low fees in comparison to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account.
CresCom Bank is currently a large bank and handles assets totaling $4 billion as well as $3 billion in deposits. It has an excellent Texas Ratio of 1.74%, denoting an exceedingly small likelihood of failure. Additionally, CresCom Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.
Find a CresCom Bank Near Me
CresCom Bank has 61 physical branches across the U.S.