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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

Started in 1914, First Savings Bank of Hegewisch has assets totaling $667 million as well as deposits totaling $562 million, classifying the institution as a medium-size bank. First Savings Bank of Hegewisch, whose headquarters are in Chicago, Illinois, 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 apps. With an average 3.8 stars out of 5, First Savings Bank of Hegewisch is a decent bank that leaves room for improvement. First Savings Bank of Hegewisch has a full suite of banking products, including 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, First Savings Bank of Hegewisch's standard checking does not have a monthly maintenance fee. Finding a bank with no-fee checking as well as a high interest rate savings account is the best option for accruing the most income on your deposits while having easy access to your funds.

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 fair in comparison to other U.S. banks. Its five-year CD earns at a rate of 1.65%, while its highest-yielding money market account has an APY of 0.04%. 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 in comparison to the national average. Its checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. For those who visit the ATM often, First Savings Bank of Hegewisch is fair because it has an out-of-network ATM fee of $2.00, which is reasonable as compared against the national average. Additionally, it has an overdraft fee of $36.00, which is somewhat greater than the average U.S. overdraft fee. First Savings Bank of Hegewisch unfortunately doesn't refund out-of-network ATM fees, which means you'll be required to find a First Savings Bank of Hegewisch ATM or eat the cost of withdrawal.

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. It also offers access to mobile and web apps for an easy mobile-banking experience. First Savings Bank of Hegewisch's online and mobile banking services receive mediocre scores from users. Out of 41 customer reviews on Apple and Android platforms, the First Savings Bank of Hegewisch mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). You can use First Savings Bank of Hegewisch's mobile app to control your funds by reviewing account balances, transferring funds and reaching support representatives. First Savings Bank of Hegewisch gets a superb consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 ranks as a medium-size bank owning $667 million in assets and deposits totaling $562 million. It has an excellent Texas Ratio of 1.36%, suggesting that the bank is in excellent financial shape 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
$500 for all terms
Money Market Account 0.04% APY $25000

First Savings Bank of Hegewisch has several deposit products including 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 consider looking elsewhere 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 physical branches in the U.S.

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