Established in 1905, First Fidelity Bank has assets totaling $367 million as well as deposits totaling $332 million, which makes the institution a small bank. First Fidelity Bank, whose headquarters are in Burke, South Dakota, lacks premium access to customer service, with no live chat or all-day service options available. 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 commendable 4.4 stars out of 5, First Fidelity Bank proves it is a great choice and should warrant serious consideration. First Fidelity Bank offers the complete package of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, First Fidelity Bank offers an option without a monthly fee. Finding an institution with free checking, in addition to a high savings APY is your best option for gaining the most income from your deposits while maintaining 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 0.25%, First Fidelity Bank ranks poorly in comparison to the national average. Its CD rates are 0.75% and 1.76% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 1.16%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.
How First Fidelity Bank's Savings Rates Compare
First Fidelity Bank charges customers extremely low fees in comparison to the national average. First Fidelity Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. First Fidelity Bank unfortunately does not refund out-of-network ATM charges, meaning you'll need to locate a First Fidelity Bank ATM or eat the cost of withdrawal.
First Fidelity Bank is a brick-and-mortar bank, with seven total branches in South Dakota. It also offers access to mobile and web apps for simple access and banking on the go. First Fidelity Bank receives moderately high praise from users for its mobile platform. The First Fidelity Bank mobile app is rated at 4.4 out of 5 (out of 9 reviews on Apple and Android) compared to the national average of 3.8. You can use First Fidelity Bank's app to control your finances by reviewing current statements, sending and receiving money as well as reaching support representatives. First Fidelity Bank gets an outstanding consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
First Fidelity Bank is currently a small bank owning $367 million in assets and deposits totaling $332 million. First Fidelity Bank's Texas Ratio is 1.21%, suggesting that First Fidelity Bank is in outstanding financial shape and improbable to fail. Additionally, First Fidelity Bank 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 Fidelity Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$100|
|Checking Account||0.15% APY||$1000|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.5% APY 1.16% APY||$10000 $15000|
First Fidelity Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Fidelity 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. First Fidelity Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a First Fidelity Bank Near Me
First Fidelity Bank has seven physical branches across the U.S.Back to Overview