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Eureka Savings Bank Review

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

Overview

Eureka Savings Bank was founded in 1885 and its headquarters are located in La Salle, Illinois. Eureka Savings Bank has $341 million in assets as well as $263 million in deposits, ranking it as a small bank. Eureka Savings Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. SmartAsset experts rated Eureka Savings Bank 4.3 out of 5 stars, suggesting it is a solid contender in your bank search. Eureka Savings Bank offers a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Eureka Savings Bank offers an option without a maintenance or monthly fee. Using a bank with no-fee checking as well as a high interest rate savings account is your best option for returning the highest income on your deposits alongside convenient access to your money.

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

3.2
SmartAsset Average: 3.5

With a savings rate of 0.15%, Eureka Savings Bank ranks poorly compared to other U.S. banks. Eureka Savings Bank's one-year CD has a rate of 0.55% and the five-year CD earns at a rate of 2.63%, while its highest-yielding money market account has an APY of 0.25%. Given its below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Eureka Savings Bank's Savings Rates Compare

Eureka Savings Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Eureka Savings Bank has generally extremely low fees as compared against the national average. With no monthly fee, Eureka Savings Bank is ideal for people who want a basic banking experience. Eureka Savings Bank doesn't refund out-of-network ATM charges, meaning you'll have to search for a Eureka Savings Bank ATM or pay the ATM charge.

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

4.3
SmartAsset Average: 3.7

Eureka Savings Bank is a brick-and-mortar bank, with four total branches in Illinois. With mobile and web apps, Eureka Savings Bank makes account access straightforward, even on the go. Eureka Savings Bank's online and mobile banking platforms get positive scores from users. With 77 customer reviews on both Apple and Android platforms, the Eureka Savings Bank mobile app is scored at 4.7 out of 5 (compared to the national average of 3.8). You can use Eureka Savings Bank's mobile app to control your finances by looking at current statements, sending and receiving money and reaching customer service. Eureka Savings Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Eureka Savings Bank ranks as a small bank owning assets totaling $341 million as well as $263 million in deposits. Eureka Savings Bank's Texas Ratio is 8.87%, denoting that the bank is in good financial well-being and far from failure. Additionally, Eureka 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

8.87%
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 Eureka Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $50
Checking Account 0.1% APY $100
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 0.95% APY
  • 36 Month: 2.53% APY
  • 60 Month: 2.63% APY
$1000 for all terms
Money Market Accounts 0.2% APY 0.25% APY $10000 $15000

Eureka Savings 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. Eureka Savings 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. Eureka Savings Bank's CD rates are fair compared to other U.S. banks.

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Find a Eureka Savings Bank Near Me

Eureka Savings Bank has four branches across the U.S.

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