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Heritage Bank USA Review

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Heritage Bank USA Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1879, Heritage Bank USA has $916 million in assets as well as deposits totaling $755 million, classifying it as a medium-size bank. Heritage Bank USA, whose headquarters are in Hopkinsville, Kentucky, lacks premium access to customer service, with no options for live chat or all-day service. 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. We gave Heritage Bank USA a 3.6 stars out of 5, indicating that it is an acceptable bank choice, but may leave you wanting more. Heritage Bank USA has an array product offerings, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product carries a $6.00 monthly fee, which places it at the higher end of monthly fees. Using a bank with no-fee checking and a high savings APY is the best bet for getting the most income on your deposits alongside easy 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 USA features a savings rate of 0.15%, which is fair compared to the national average. Its one-year CD earns at a rate of 2.25% and the five-year CD earns at a rate of 3.25%, while its highest-yielding money market account earns at an APY of 0.15%. Given Heritage Bank USA's below average savings rate, you should consider other options to earn more on your deposits.

How Heritage Bank USA's Savings Rates Compare

Heritage Bank USA Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Heritage Bank USA generally has high fees in comparison to other U.S. banks. At $6.00/month, Heritage Bank USA is not ideal for those who want a simple banking experience. Heritage Bank USA unfortunately does not refund out-of-network ATM charges, meaning you'll have to locate a Heritage Bank USA 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 N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Heritage Bank USA is a brick-and-mortar bank, with 18 total branches in Kentucky and Tennessee. It also offers access to mobile and web apps for a simple mobile-banking experience. Heritage Bank USA's online and mobile banking services get poor marks from users. With 92 ratings on Apple and Android platforms, the Heritage Bank USA mobile app rates a 3.0 out of 5 (compared to the national average of 3.8). You can utilize Heritage Bank USA's app to manage your bank accounts by checking account balances, transferring funds as well as accessing support representatives. Heritage Bank USA receives an exceptional consumer satisfaction score based on comparatively few consumer complaints filed with 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

SmartAsset Average: 4.8

Heritage Bank USA is currently a medium-size bank with assets totaling $916 million and deposits totaling $755 million. Its Texas Ratio is 4.66%, suggesting a minute likelihood of failure. Additionally, Heritage Bank USA is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Heritage Bank USA to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 2.25% APY
  • 24 Month: 2.43% APY
  • 36 Month: 2.68% APY
  • 48 Month: 2.75% APY
  • 60 Month: 3.25% APY
$1000 for all terms
Money Market Account 0.07% APY $10000

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

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Find a Heritage Bank USA Near Me

Heritage Bank USA has 18 branches across the U.S.

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