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First Federal Savings and Loan Association of Port Angeles Review

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First Federal Savings and Loan Association of Port Angeles Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1923, First Federal Savings and Loan Association of Port Angeles Bank has assets totaling $1 billion as well as deposits totaling $888 million, which makes the institution a medium-size bank. First Federal Savings and Loan Association of Port Angeles, whose headquarters are in Port Angeles, Washington, has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 4.2 out of 5 stars, First Federal Savings and Loan Association of Port Angeles should be solidly in contention for your choice of bank. First Federal Savings and Loan Association of Port Angeles has a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Federal Savings and Loan Association of Port Angeles has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a monthly fee of $7.00, making it a rather costly bank for checking. Using an institution with no-fee checking, in addition to a high interest rate savings account is your best option for gaining the highest income from your deposits while having easy 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

3.7
SmartAsset Average: 3.5

First Federal Savings and Loan Association of Port Angeles features a savings rate of 0.15%, which is fair as compared against the national average. First Federal Savings and Loan Association of Port Angeles's one-year CD has a rate of 1.30% and the five-year CD has a rate of 2.30%, while its highest-yielding money market account has a rate of 0.15%. Given First Federal Savings and Loan Association of Port Angeles's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How First Federal Savings and Loan Association of Port Angeles's Savings Rates Compare

First Federal Savings and Loan Association of Port Angeles Savings 0.15 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

On average, First Federal Savings and Loan Association of Port Angeles charges customers high fees as compared against the national average. At $7.00/month, First Federal Savings and Loan Association of Port Angeles is not great for those who want a simple checking account. For those who withdraw cash routinely, it is not great because it charges an out-of-network ATM fee of $2.50, which is not great compared to the average U.S. bank. Also, at $32.00, First Federal Savings and Loan Association of Port Angeles has a significantly lower overdraft fee compared to the national average. First Federal Savings and Loan Association of Port Angeles does not reimburse out-of-network ATM fees, which means you'll need to find a First Federal Savings and Loan Association of Port Angeles ATM or accept the ATM charge.

Monthly Fee $7.00 National Average: $3.21
Non-network ATM Fee $2.50 National Average: $1.20
Overdraft Fee $32.00 National Average: $35.00
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Service Quality

4.5
SmartAsset Average: 3.7

First Federal Savings and Loan Association of Port Angeles Bank is a brick-and-mortar bank, with 11 total branches in Washington. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 7:00 p.m. PT; Saturday, and 9:00 a.m. - 1:00 p.m. PT. Additionally, First Federal Savings and Loan Association of Port Angeles customers can access live chat for help, a helpful way to reach a representative during the work day. First Federal Savings and Loan Association of Port Angeles's online and mobile banking services receive great feedback from customers. With 670 ratings across both iOS and Android platforms, the First Federal Savings and Loan Association of Port Angeles mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). First Federal Savings and Loan Association of Port Angeles's mobile app lets you manage your finances by checking account balances, transferring money as well as accessing support representatives. First Federal Savings and Loan Association of Port Angeles receives an exceptional consumer satisfaction score based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government 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 Yes
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Financial Health

5.0
SmartAsset Average: 4.8

First Federal Savings and Loan Association of Port Angeles is a medium-size bank with assets totaling $1 billion as well as deposits totaling $888 million. Its Texas Ratio is 0.92%, suggesting that the bank is in excellent financial health and far from failure. Additionally, First Federal Savings and Loan Association of Port Angeles 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.

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Compare First Federal Savings and Loan Association of Port Angeles to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 1.30% APY
  • 24 Month: 1.90% APY
  • 36 Month: 1.95% APY
  • 48 Month: 2.00% APY
  • 60 Month: 2.30% APY
$10000 for all terms
Money Market Account 0.15% APY $10000

First Federal Savings and Loan Association of Port Angeles 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. First Federal Savings and Loan Association of Port Angeles does not have the best savings rate, which means you should consider 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. First Federal Savings and Loan Association of Port Angeles's CD rates are fair in comparison to the average U.S. bank.

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Find a First Federal Savings and Loan Association of Port Angeles Near Me

First Federal Savings and Loan Association of Port Angeles has 11 locations in the U.S.

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