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Hatboro Federal Savings Review

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Hatboro Federal Savings Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Hatboro Federal Savings Bank was founded in 1941 and has its headquarters in Hatboro, Pennsylvania. It manages assets of $495 million and deposits totaling $381 million, making it a medium-size bank. Hatboro Federal Savings 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 in-person service, in addition to its online and mobile apps. We gave the bank a 4.5 out of 5 stars, suggesting Hatboro Federal Savings is a superb bank that would be an ideal pick. Hatboro Federal Savings has a complete suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's most basic checking does not have a monthly charge. Finding a bank with no-fee checking as well as a high interest rate savings account is the best bet for gaining the highest income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

4.1
SmartAsset Average: 3.5

Hatboro Federal Savings features a savings rate of 0.15%, which is poor as compared against the national average. Hatboro Federal Savings's one-year and five-year term lengths CDs earn at a rate of 2.25% and 2.50%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Hatboro Federal Savings's Savings Rates Compare

Hatboro Federal Savings Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Hatboro Federal Savings charges its customers extremely low fees compared to the national average. Hatboro Federal Savings's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Hatboro Federal Savings does not reimburse out-of-network ATM charges, which means you'll need to find a Hatboro Federal Savings ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

Hatboro Federal Savings Bank is a brick-and-mortar bank, with four total branches in Pennsylvania. It also offers access to mobile and web apps for a simple mobile-banking experience. Hatboro Federal Savings receives high praise from users for its mobile platform. With 73 customer reviews on both Apple and Android platforms, the Hatboro Federal Savings mobile app rates a 4.7 out of 5 (compared to the national average of 3.8). You can access Hatboro Federal Savings's mobile app to manage your accounts by reviewing monthly statements, transferring money as well as reaching support representatives. Hatboro Federal Savings receives a superb consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Hatboro Federal Savings ranks as a medium-size bank and handles assets totaling $495 million as well as $381 million in deposits. It has a strong Texas Ratio of 9.13%, signifying a small likelihood of failure. Additionally, Hatboro Federal Savings is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.13%
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 Hatboro Federal Savings to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.15% APY $1000
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.50% APY
  • 60 Month: 2.50% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.15% APY $10000 $15000

Hatboro Federal Savings Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Hatboro Federal Savings does not have the best savings rate, which means you should consider looking 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. Hatboro Federal Savings's CD rates are fair as compared against the national average.

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Find a Hatboro Federal Savings Near Me

Hatboro Federal Savings has four branches in the U.S.

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