Heritage Bank started in 1884 with headquarters in Wood River, Nebraska. It manages $594 million in assets as well as $411 million in deposits, which makes it a medium-size bank. Heritage Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With a commendable 4.2 out of 5 stars, Heritage Bank proves it is a solid contender in your bank search. Heritage Bank has the complete package of product offerings, including 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 product features a monthly fee of $6.00, making it a rather pricey bank for checking. Locating an institution with free checking and a high interest rate savings account is your best bet for gaining the most income from your deposits while having convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Heritage Bank has a savings rate of 0.25%, which is fair as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.66% and 2.78%, respectively, while its highest-yielding money market account has an APY of 0.35%. Given its below average savings rate, you should think about choosing another bank to earn more on your deposits.
How Heritage Bank's Savings Rates Compare
Heritage Bank has generally high fees in comparison to the national average. Its checking account has a monthly fee of $6.00, ranking it fair for anyone looking for a simple account. Additionally, at $25.00, Heritage Bank's overdraft fee is significantly lower than the national average overdraft fee. Heritage Bank does not reimburse out-of-network ATM charges, which means you'll need to locate a Heritage Bank ATM or eat the cost of withdrawal.
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 offer all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday and 8:00 a.m. to 5:00 p.m. CT. Heritage Bank receives reasonably positive scores from customers for its mobile platform. With 8 customer reviews on both iOS and Android platforms, the Heritage Bank mobile app has an overall rating of 4.0 out of 5 (compared to the national average of 3.8). Heritage Bank's mobile app lets you manage your bank accounts by monitoring monthly statements, transferring money and accessing customer service. Heritage Bank receives a superb consumer satisfaction rating due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Heritage Bank is a medium-size bank with $594 million in assets as well as $411 million in deposits. Its Texas Ratio is 0.62%, suggesting that the bank is in excellent 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.Back to Overview
Compare Heritage Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$50|
|Checking Account||0.2% APY||$1001|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.35% APY 0.35% APY||$10000 $15000|
Heritage Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Heritage 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. Heritage Bank's CD rates are fair compared to the national average.Back to Overview
Find a Heritage Bank Near Me
Heritage Bank has 20 locations in the U.S.Back to Overview