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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


Established in 1879, Heritage Bank USA has $916 million in assets and $755 million in deposits, making it a medium-size bank. Heritage Bank USA, whose headquarters are in Hopkinsville, Kentucky, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. We ranked Heritage Bank USA at a 3.6 out of 5 stars, suggesting it is an acceptable bank choice, but may leave you wanting more. Heritage Bank USA offers a selection of banking products, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. Heritage Bank USA has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product features a monthly fee of $6.00, making it a rather pricey bank for checking. Using an institution with no-fee checking, in addition to a high savings APY is your best option for getting the most income on your deposits while maintaining 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 USA features a savings rate of 0.15%, which is poor compared to the average U.S. bank. Heritage Bank USA's 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 its poor savings rate, you should think about taking a look at other banks for savings accounts.

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 typically has high fees compared to the average U.S. bank. Its checking account has a monthly fee of $6.00, rating it fair for anyone looking for a hassle-free account. Heritage Bank USA unfortunately does not refund out-of-network ATM fees, which means you will have to find a Heritage Bank USA ATM or eat 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. With mobile and web apps, Heritage Bank USA makes mobile banking straightforward, even on the go. Heritage Bank USA's online and mobile banking services receive poor feedback from customers. The Heritage Bank USA mobile app has been given a 3.0 out of 5 (with 92 customer reviews on Apple and Android) compared to the national average of 3.8. Heritage Bank USA's mobile app lets you manage your finances by reviewing account balances, transferring money as well as reaching customer service. Heritage Bank USA gets a superb consumer satisfaction score based on comparatively few 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 as well as deposits totaling $755 million. Heritage Bank USA's Texas Ratio is 4.66%, indicating that Heritage Bank USA is in superb financial health and far from 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 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 USA's CD rates are fair compared to other U.S. banks.

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Find a Heritage Bank USA Near Me

Heritage Bank USA has 18 physical locations across the U.S.

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