Grand Valley Bank first started operating in 1983 and has its headquarters in Heber City, Utah. Grand Valley Bank handles $374 million in assets along with $336 million in deposits, classifying it as a small bank. Grand Valley Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave Grand Valley Bank a 3.8 out of 5 stars, which means it is an average bank that leaves room for improvement. Grand Valley Bank has an array banking products, including savings accounts, checking accounts, money market accounts, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a $7.50 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Banks that offer free checking and a high savings APY are the best option for accruing 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 0.50%, Grand Valley Bank ranks poorly in comparison to other U.S. banks. Grand Valley Bank's one-year CD earns at a rate of 1.25% and the five-year CD earns at a rate of 2.40%, while its highest-yielding money market account earns at a rate of 0.50%. Given Grand Valley Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.
How Grand Valley Bank's Savings Rates Compare
On average, Grand Valley Bank charges its customers high fees compared to other U.S. banks. Grand Valley Bank's checking account has a monthly fee of $7.50, making it fair for anyone looking for a simple account. For those who will need cash in a pinch, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable as compared against the national average. Grand Valley Bank unfortunately does not refund out-of-network ATM fees, meaning you will have to search for a Grand Valley Bank ATM or pay the ATM charge.
Grand Valley Bank is a brick-and-mortar bank, with eight total bank locations in Colorado and Utah. It also offers access to mobile and web apps for simple access and banking on the go. Grand Valley Bank's online and mobile banking services receive moderate scores from users. With 8 customer reviews on both iOS and Android platforms, the Grand Valley Bank mobile app has an overall rating of 3.9 out of 5 (compared to the national average of 3.8). Grand Valley Bank's mobile app allows you to manage your funds by looking at account balances, transferring funds as well as reaching customer service. Grand Valley Bank receives a superb consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Grand Valley Bank is currently a small bank with $374 million in assets and deposits totaling $336 million. Grand Valley Bank's Texas Ratio is 0.56%, denoting a minute likelihood of failure. Additionally, Grand Valley 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 Grand Valley Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.5% APY||$100|
|Checking Account||0.15% APY||$100|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.35% APY||$10000|
Grand Valley Bank offers several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Grand Valley 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. Grand Valley Bank's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a Grand Valley Bank Near Me
Grand Valley Bank has eight physical locations across the U.S.Back to Overview