Fidelity Bank & Trust Review

Overview

Fidelity Bank & Trust started in 1910 with headquarters in Dubuque, Iowa. Fidelity Bank & Trust manages assets of $824 million along with $680 million in deposits, making it a medium-size bank. Fidelity Bank & Trust 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. On the whole, Fidelity Bank & Trust is a great bank that you should seriously consider, with a rating of 4.3 stars out of 5 from the SmartAsset experts. Fidelity Bank & Trust has a complete choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Fidelity Bank & Trust has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Fidelity Bank & Trust offers an option without a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best option for getting the most income on your deposits while having convenient access to your funds.

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

With a savings rate of 0.05%, Fidelity Bank & Trust ranks poorly in comparison to the national average. Fidelity Bank & Trust's one-year CD has a rate of 0.65% and the five-year CD earns at a rate of 1.66%, while its highest-yielding money market account earns at a rate of 0.05%. Given Fidelity Bank & Trust's poor savings rate, you should think about taking a look at other banks for savings accounts.

How Fidelity Bank & Trust's Savings Rates Compare

Fidelity Bank & Trust charges its customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Fidelity Bank & Trust's checking account is perfect for people who need an easy checking account. Fidelity Bank & Trust does not reimburse out-of-network ATM charges, which means you'll have to find a Fidelity Bank & Trust ATM or eat the ATM charge.

Fidelity Bank & Trust is a brick-and-mortar bank, with 20 total branches in Illinois, Iowa and Wisconsin. It also offers access to mobile and web apps for easy access and banking on the go. Fidelity Bank & Trust's online and mobile banking platforms get fairly decent feedback from users. Out of 75 customer reviews across both Apple and Android platforms, the Fidelity Bank & Trust mobile app is scored at 4.4 out of 5 (compared to the national average of 3.8). Fidelity Bank & Trust's mobile app lets you control your funds by checking monthly statements, sending and receiving funds and reaching customer service. Fidelity Bank & Trust gets an exceptional 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.

Fidelity Bank & Trust ranks as a medium-size bank owning assets totaling $824 million as well as $680 million in deposits. Fidelity Bank & Trust's Texas Ratio is 1.88%, signifying a negligible probability of failure. Additionally, Fidelity Bank & Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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.

Products Offered

Fidelity Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Fidelity Bank & Trust does not have the best savings rate, which means you should think about 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. Fidelity Bank & Trust's CD rates are fair compared to the national average.

Find a Fidelity Bank & Trust Near Me

Fidelity Bank & Trust has 20 branches across the U.S.