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Crossroads Bank Review

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Crossroads Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1920, Crossroads Bank has $374 million in assets along with deposits totaling $330 million, which makes it a small bank. Crossroads Bank, whose headquarters are in Wabash, Indiana, 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 in-person service, in addition to its online and mobile apps. SmartAsset has rated the bank 4.1 stars out of 5, indicating that Crossroads Bank is a good bank that deserves your consideration. Crossroads Bank has a full suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Crossroads Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, the bank's most basic checking does not carry a monthly maintenance charge. Locating a bank with no-fee checking and a high savings APY is the best option for returning the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.15%, Crossroads Bank ranks poorly in comparison to the national average. Its one-year CD earns at a rate of 0.35% and the five-year CD earns at a rate of 1.50%, while its highest-yielding money market account earns at a rate of 0.35%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Crossroads Bank's Savings Rates Compare

Crossroads Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Crossroads Bank has generally extremely low fees in comparison to other U.S. banks. Crossroads Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. For those who withdraw cash routinely, Crossroads Bank is perfect because it charges no out-of-network ATM fees. Crossroads Bank does not refund out-of-network ATM charges, meaning you'll be required to search for a Crossroads Bank ATM or pay the withdrawal 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

SmartAsset Average: 3.7

Crossroads Bank is a brick-and-mortar bank, with six total branches in Indiana. It also offers access to mobile and web apps for an easy mobile-banking experience. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. ET; Saturday, and 8:00 a.m. to 12:00 p.m. ET. Crossroads Bank's online and mobile banking platforms receive mediocre feedback from customers. Out of 21 ratings across both iOS and Android platforms, the Crossroads Bank mobile app has an overall rating of 3.4 out of 5 (compared to the national average of 3.8). You can access Crossroads Bank's app to control your bank accounts by looking at monthly statements, transferring funds as well as reaching support representatives. Crossroads Bank receives a superb consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Crossroads Bank ranks as a small bank with $374 million in assets and deposits totaling $330 million. It has a strong Texas Ratio of 8.43%, signifying that the bank is in fine financial well-being and unlikely to fail. Additionally, Crossroads Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Crossroads Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1000
Checking Account 0.08% APY $1
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.60% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.26% APY
  • 60 Month: 1.50% APY
$5000 for all terms
Money Market Account 0.35% APY $10000

Crossroads Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Crossroads Bank 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. Crossroads Bank's CD rates are fair compared to the national average.

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Find a Crossroads Bank Near Me

Crossroads Bank has six physical branches in the U.S.

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