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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 was founded in 1900 with headquarters in Durant, Oklahoma. It manages $6 billion in assets and deposits totaling $5 billion, which makes it a large bank. First United Bank and Trust Company has above-average customer service access with all-day support available, which is helpful for those that work during typical customer service hours. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4 out of 5 stars, First United Bank and Trust Company proves it is a respectable bank that deserves your consideration. First United Bank and Trust Company has a varied choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. First United Bank and Trust Company has a fair savings rate; other popular banks have higher rates. The bank's standard checking product has a monthly fee of $3.50, which ranks on the higher end of monthly fees. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best option for returning the most income from your deposits while having 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

First United Bank and Trust Company features a savings rate of 0.18%, which is fair as compared against the national average. First United Bank and Trust Company's one-year CD earns at a rate of 0.75% and the five-year CD has a rate of 1.85%, while its highest-yielding money market account earns at a rate of 0.40%. Given First United Bank and Trust Company's below average savings rate, you should consider looking at the competition to open savings accounts.

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 typically has average fees compared to the average U.S. bank. Its checking account has a monthly fee of $3.50, which makes it fair for anyone looking for a simple account. Also, at $28.00, its overdraft fee is markedly lower than the national average. First United Bank and Trust Company doesn't refund out-of-network ATM fees, meaning you'll have to locate a First United Bank and Trust Company ATM or eat the fee.

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 bank locations in Oklahoma and Texas. It also offers access to mobile and web apps for an easy mobile-banking experience. It has access to all-day customer service. First United Bank and Trust Company receives inferior marks from customers for its mobile app. Out of 540 customer reviews across both iOS and Android platforms, the First United Bank and Trust Company mobile app is scored at 3.0 out of 5 (compared to the national average of 3.8). First United Bank and Trust Company's mobile app allows you to manage your bank accounts by checking monthly statements, transferring money as well as reaching customer service. First United Bank and Trust Company receives an outstanding consumer satisfaction rating due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 and has assets totaling $6 billion as well as $5 billion in deposits. Its Texas Ratio is 7.33%, denoting a small chance of 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 $1
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 0.35% APY $10000

First United Bank and Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you 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 compared to other U.S. banks.

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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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