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

Overview

FCN Bank started in 1900 with headquarters located in Brookville, Indiana. FCN Bank manages assets of $441 million and $384 million in deposits, making it a medium-size bank. FCN Bank has above-average access to customer service with all-day support available, which is helpful for those that work during typical customer service hours. 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. We ranked the bank at a 4.4 stars out of 5, suggesting FCN Bank is a great choice and should warrant serious consideration. FCN Bank has the complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, FCN Bank offers an option without a maintenance or monthly fee. Locating a bank with no-fee checking and a high interest rate savings account is your best option for accruing the most income from your deposits while maintaining 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

3.0
SmartAsset Average: 3.5

With a savings rate of 0.15%, FCN Bank ranks poorly compared to the national average. Its one-year CD has a rate of 2.10% and the five-year CD has a rate of 3.00%, while its highest-yielding money market account has an APY of 0.20%. Given its below average savings rate, you should consider choosing another bank to earn more on your deposits.

How FCN Bank's Savings Rates Compare

FCN Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, FCN Bank charges customers extremely low fees compared to other U.S. banks. FCN Bank's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. FCN Bank does not refund out-of-network ATM fees, meaning you'll be required to find a FCN Bank ATM or eat 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

4.5
SmartAsset Average: 3.7

FCN Bank is a brick-and-mortar bank, with five total bank locations in Indiana and Ohio. With mobile and web apps, FCN Bank makes mobile banking straightforward, even on the go. It provides all-day access to representatives. FCN Bank's online and mobile banking services receive high marks from users. The FCN Bank mobile app rates a 4.6 out of 5 (with 35 customer reviews on Apple and Android) compared to the national average of 3.8. FCN Bank's mobile app lets you control your funds by reviewing account balances, transferring funds as well as reaching customer service. FCN Bank gets an excellent consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

FCN Bank is a medium-size bank owning assets totaling $441 million as well as deposits totaling $384 million. FCN Bank's Texas Ratio is 3.97%, signifying that the bank is in superb financial well-being and unlikely to fail. Additionally, FCN Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.97%
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 FCN Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $300
Checking Account 0.1% APY $800
Certificates of Deposit
  • 12 Month: 2.10% APY
  • 24 Month: 2.40% APY
  • 36 Month: 2.60% APY
  • 48 Month: 0.90% APY
  • 60 Month: 3.00% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.2% APY $10000 $15000

FCN Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. FCN Bank does not have the best savings rate, which means you should consider 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. FCN Bank's CD rates are fair in comparison to other U.S. banks.

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Find a FCN Bank Near Me

FCN Bank has five physical locations across the U.S.

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