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Cross County Savings Bank Review

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Cross County Savings Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Cross County Savings Bank first started operating in 1888 and has its headquarters in Middle Village, New York. It manages $392 million in assets along with deposits totaling $340 million, making it a small bank. Cross County Savings Bank lacks premium access to support representatives, 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. At a SmartAsset rating of 4.4 out of 5 stars, Cross County Savings Bank should be solidly in contention for your choice of bank. Cross County Savings Bank has a mixture of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Cross County Savings Bank has a fair savings rate; you can find higher rates with other banks. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best option for getting the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

4.4
SmartAsset Average: 3.5

With a savings rate of 0.30%, Cross County Savings Bank ranks poorly compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 2.30% and 3.25%, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How Cross County Savings Bank's Savings Rates Compare

Cross County Savings Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

3.7
SmartAsset Average: 4.4

Cross County Savings Bank generally has above-average fees in comparison to the average U.S. bank. For those who often withdraw money from the ATM, Cross County Savings Bank is not ideal because it has an out-of-network ATM fee of $2.50, which is not ideal compared to the national average. Also, it has an overdraft fee of $34.00, which is lower than the average overdraft fee charged by U.S. banks. Cross County Savings Bank does not refund out-of-network ATM fees, which means you'll have to find a Cross County Savings Bank ATM or accept the withdrawal fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee $2.50 National Average: $1.20
Overdraft Fee $34.00 National Average: $35.00
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Service Quality

4.5
SmartAsset Average: 3.7

Cross County Savings Bank is a brick-and-mortar bank, with six total bank locations in New York. With mobile and web apps, Cross County Savings Bank makes mobile banking easy, even on the go. Cross County Savings Bank's online and mobile banking platforms receive high praise from users. With 31 customer reviews across both iOS and Android platforms, the Cross County Savings Bank mobile app has an overall rating of 5.0 out of 5 (compared to the national average of 3.8). You can use Cross County Savings Bank's mobile app to control your funds by monitoring account balances, transferring money and reaching support representatives. Cross County Savings Bank receives a superb consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

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

4.8
SmartAsset Average: 4.8

Cross County Savings Bank is currently a small bank and has $392 million in assets and $340 million in deposits. It has an excellent Texas Ratio of 4.80%, indicating a minute probability of failure. Additionally, Cross County Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.8%
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 Cross County Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 2.30% APY
  • 24 Month: 2.75% APY
  • 36 Month: 2.85% APY
  • 48 Month: 2.90% APY
  • 60 Month: 3.25% APY
$500 for all terms
Money Market Accounts 0.5% APY 0.5% APY $10000 $15000

Cross County Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Cross County Savings Bank does not have the best savings rate, which means you should consider 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. Cross County Savings Bank's CD rates are fair in comparison to the national average.

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Find a Cross County Savings Bank Near Me

Cross County Savings Bank has six locations in the U.S.

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