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First Savings Bank of Hegewisch Review

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First Savings Bank of Hegewisch Savings
0.02% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1914, First Savings Bank of Hegewisch has assets totaling $667 million and $562 million in deposits, which makes the institution a medium-size bank. First Savings Bank of Hegewisch, whose headquarters are in Chicago, Illinois, 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at an average 3.8 out of 5 stars, First Savings Bank of Hegewisch is an average bank that leaves room for improvement. First Savings Bank of Hegewisch provides customers with a complete choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, the bank's standard checking account does not carry a monthly charge. Using an institution with free checking as well as a high interest rate savings account is the best bet for getting the highest income from your deposits while maintaining easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

First Savings Bank of Hegewisch features a savings rate of 0.02%, which is poor as compared against the national average. Its five-year CD has a rate of 1.65%, while its highest-yielding money market account earns at a rate of 0.30%. Given its noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How First Savings Bank of Hegewisch's Savings Rates Compare

First Savings Bank of Hegewisch Savings 0.02 National Average 0.26 Compare Offers
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Fees

3.9
SmartAsset Average: 4.4

First Savings Bank of Hegewisch typically has above-average fees compared to other U.S. banks. With no monthly fee, First Savings Bank of Hegewisch's checking account is ideal for those who want an easy banking experience. For those who withdraw cash routinely, First Savings Bank of Hegewisch is fair because it charges an out-of-network ATM fee of $2.00, which is reasonable compared to the average U.S. bank. Additionally, it has an overdraft fee of $36.00, which is slightly greater than the average U.S. overdraft fee. First Savings Bank of Hegewisch unfortunately doesn't refund out-of-network ATM fees, meaning you will need to find a First Savings Bank of Hegewisch ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee $36.00 National Average: $35.00
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Service Quality

3.6
SmartAsset Average: 3.7

First Savings Bank of Hegewisch is a brick-and-mortar bank, with 14 total bank locations in Illinois and Indiana. With mobile and web apps, First Savings Bank of Hegewisch makes account access convenient, even on the go. First Savings Bank of Hegewisch receives unsatisfactory marks from customers for its mobile banking services. With 41 customer reviews across both Apple and Android platforms, the First Savings Bank of Hegewisch mobile app has an overall rating of 3.4 out of 5 (compared to the national average of 3.8). You can access First Savings Bank of Hegewisch's mobile app to manage your funds by checking monthly statements, sending and receiving money as well as accessing customer service. First Savings Bank of Hegewisch gets an excellent consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

First Savings Bank of Hegewisch is currently a medium-size bank and owns assets totaling $667 million and deposits totaling $562 million. First Savings Bank of Hegewisch's Texas Ratio is 1.36%, indicating that the bank is in outstanding financial condition and far from failure. Additionally, First Savings Bank of Hegewisch 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 Savings Bank of Hegewisch to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.02% APY $1
Checking Account 0.01% APY $1000
Certificates of Deposit
  • 36 Month: 1.20% APY
  • 48 Month: 2.25% APY
  • 60 Month: 1.65% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.3% APY $10000 $15000

First Savings Bank of Hegewisch has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. First Savings Bank of Hegewisch does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money.

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Find a First Savings Bank of Hegewisch Near Me

First Savings Bank of Hegewisch has 14 branches across the U.S.

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