Loading
Tap on the profile icon to edit
your financial details.

First Federal Bank of Kansas City Review

Your Details Done
by Updated
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
First Federal Bank of Kansas City Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1934, First Federal Bank of Kansas City has $726 million in assets and deposits totaling $496 million, making it a medium-size bank. First Federal Bank of Kansas City, whose headquarters are in Kansas City, Missouri, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated the bank 4.2 stars out of 5, which means First Federal Bank of Kansas City is a great bank that you should seriously consider. First Federal Bank of Kansas City provides customers with a mixture of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. First Federal Bank of Kansas City has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not carry a monthly maintenance fee. Locating a bank with free checking as well as a high interest rate savings account is your best option for returning the most income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

3.1
SmartAsset Average: 3.5

With a savings rate of 0.15%, First Federal Bank of Kansas City ranks poorly in comparison to other U.S. banks. First Federal Bank of Kansas City's one-year CD has a rate of 0.45% and the five-year CD earns at a rate of 2.02%, while its highest-yielding money market account has a rate of 0.15%. Given First Federal Bank of Kansas City's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How First Federal Bank of Kansas City's Savings Rates Compare

First Federal Bank of Kansas City Savings 0.15 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

First Federal Bank of Kansas City generally has extremely low fees compared to the national average. With no monthly fee, First Federal Bank of Kansas City's checking account is perfect for those who need a hassle-free checking account. First Federal Bank of Kansas City does not refund out-of-network ATM charges, which means you will be required to locate a First Federal Bank of Kansas City ATM or accept the 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
Back to Overview

Service Quality

3.8
SmartAsset Average: 3.7

First Federal Bank of Kansas City is a brick-and-mortar bank, with 12 total bank locations in Kansas and Missouri. It also offers access to mobile and web apps for easy access and banking on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 9:00 a.m. to 4:30 p.m. CT. First Federal Bank of Kansas City's online and mobile banking services receive fair feedback from customers. The First Federal Bank of Kansas City mobile app is rated at 3.7 out of 5 (with 58 ratings on Apple and Android) compared to the national average of 3.8. First Federal Bank of Kansas City's mobile app lets you control your bank accounts by looking at account balances, sending and receiving money as well as accessing customer service. First Federal Bank of Kansas City receives an excellent consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

First Federal Bank of Kansas City ranks as a medium-size bank and manages assets totaling $726 million and $496 million in deposits. First Federal Bank of Kansas City's Texas Ratio is 1.70%, denoting that First Federal Bank of Kansas City is in outstanding financial shape and far from failure. Additionally, First Federal Bank of Kansas City 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.

Back to Overview

Compare First Federal Bank of Kansas City to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 1.91% APY
  • 36 Month: 2.78% APY
  • 48 Month: 1.81% APY
  • 60 Month: 2.02% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.15% APY $10000 $15000

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

Back to Overview

Find a First Federal Bank of Kansas City Near Me

First Federal Bank of Kansas City has 12 locations in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure