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First United Bank and Trust Company Review

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First United Bank and Trust Company Savings
0.18% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First United Bank and Trust Company started in 1900 with headquarters in Durant, Oklahoma. First United Bank and Trust Company has $6 billion in assets and $5 billion in deposits, classifying it as a large bank. First United Bank and Trust Company has above-average access to customer service with all-day support available, 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 apps. We gave the bank a 4 stars out of 5, which means First United Bank and Trust Company is a good bank that warrants your consideration. First United Bank and Trust Company has the full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account has a $3.50 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Locating a bank with free checking as well as a high savings APY is the best option for getting the most income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

With a savings rate of 0.18%, First United Bank and Trust Company ranks poorly in comparison to the national average. Its one-year CD has a rate of 0.75% and the five-year CD has a rate of 1.85%, while its highest-yielding money market account has a rate of 0.30%. Given First United Bank and Trust Company's below average savings rate, you should consider choosing another bank to earn more on your deposits.

How First United Bank and Trust Company's Savings Rates Compare

First United Bank and Trust Company Savings 0.18 National Average 0.26 Compare Offers
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Fees

4.2
SmartAsset Average: 4.4

First United Bank and Trust Company generally has average fees in comparison to the national average. At $3.50/month, First United Bank and Trust Company's checking account is not great for people who want a hassle-free checking account. Also, First United Bank and Trust Company has an overdraft fee of $28.00, which is significantly lower than the national average overdraft fee. First United Bank and Trust Company unfortunately does not refund out-of-network ATM fees, which means you'll need to locate a First United Bank and Trust Company ATM or eat the cost of withdrawal.

Monthly Fee $3.50 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $28.00 National Average: $35.00
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Service Quality

3.7
SmartAsset Average: 3.7

First United Bank and Trust Company is a brick-and-mortar bank, with 70 total branches in Oklahoma and Texas. With mobile and web apps, First United Bank and Trust Company makes account access convenient, even on the go. It provides all-day access to representatives. First United Bank and Trust Company receives inferior reviews from users for its mobile banking services. The First United Bank and Trust Company mobile app has been given a 3.0 out of 5 (with 540 ratings on Apple and Android) compared to the national average of 3.8. You can access First United Bank and Trust Company's app to manage your finances by looking at monthly statements, sending and receiving funds and reaching customer service. First United Bank and Trust Company gets a superb consumer satisfaction rating based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

First United Bank and Trust Company ranks as a large bank owning $6 billion in assets as well as $5 billion in deposits. First United Bank and Trust Company's Texas Ratio is 7.33%, indicating that First United Bank and Trust Company is in good financial well-being and far from failure. Additionally, First United Bank and Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.33%
High Risk 75% 50% 20% 10% Low Risk

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 United Bank and Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.18% APY $100
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.60% APY
  • 48 Month: 1.70% APY
  • 60 Month: 1.85% APY
$500 for all terms
Money Market Account 0.25% APY $10000

First United Bank and Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First United Bank and Trust Company does not have the best savings rate, which means you should think about 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 United Bank and Trust Company's CD rates are fair in comparison to the average U.S. bank.

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Find a First United Bank and Trust Company Near Me

First United Bank and Trust Company has 70 branches in the U.S.

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