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Heritage Bank Review

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Heritage Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1884, Heritage Bank has $594 million in assets as well as deposits totaling $411 million, which makes the institution a medium-size bank. Heritage Bank, whose headquarters are in Wood River, Nebraska, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.2 stars out of 5, Heritage Bank should be solidly in contention for your choice of bank. Heritage Bank provides customers with a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Heritage Bank has a fair savings rate compared to the average savings account. The bank's standard checking account maintains a monthly fee of $6.00, making it a rather pricey bank for checking. Finding a bank with free checking and a high savings APY is your best bet for getting the highest income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Heritage Bank features a savings rate of 0.25%, which is poor in comparison to the national average. Its CD rates are 1.66% and 2.78% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.35%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How Heritage Bank's Savings Rates Compare

Heritage Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Heritage Bank charges customers high fees in comparison to the national average. Heritage Bank's checking account has a monthly fee of $6.00, making it fair for anyone looking for a simple account. Also, Heritage Bank has an overdraft fee of $25.00, which is noticeably lower than the national average overdraft fee. Heritage Bank doesn't refund out-of-network ATM charges, which means you'll have to locate a Heritage Bank ATM or accept the cost of withdrawal.

Monthly Fee $6.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $25.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Heritage Bank is a brick-and-mortar bank, with 20 total bank locations in Nebraska. With mobile and web apps, Heritage Bank makes mobile banking convenient, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. CT. Heritage Bank receives reasonably high praise from users for its mobile app. The Heritage Bank mobile app rates a 4.0 out of 5 (with 8 customer reviews on Apple and Android) compared to the national average of 3.8. You can utilize Heritage Bank's app to control your funds by looking at monthly statements, transferring money and accessing support representatives. Heritage Bank gets a superb consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Heritage Bank is a medium-size bank and has $594 million in assets as well as deposits totaling $411 million. Heritage Bank has an excellent Texas Ratio of 0.62%, denoting that the bank is in outstanding financial condition and far from failure. Additionally, Heritage 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.

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Compare Heritage Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $50
Checking Account 0.2% APY $1001
Certificates of Deposit
  • 12 Month: 1.66% APY
  • 24 Month: 1.76% APY
  • 36 Month: 2.02% APY
  • 48 Month: 2.22% APY
  • 60 Month: 2.78% APY
$1000 for all terms
Money Market Account 0.35% APY $10001

Heritage Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Heritage Bank does not have the best savings rate, which means you should consider 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. Heritage Bank's CD rates are fair compared to the average U.S. bank.

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Find a Heritage Bank Near Me

Heritage Bank has 20 physical branches across the U.S.

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