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Huntington Federal Savings Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Huntington Federal Savings Bank Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Huntington Federal Savings Bank was founded in 1929 and is headquartered in Huntington, West Virginia. It has $541 million in assets and deposits totaling $454 million, ranking it as a medium-size bank. Huntington Federal Savings Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset has rated Huntington Federal Savings Bank 4.5 out of 5 stars, indicating that it is an exceptional bank that you should seriously consider. Huntington Federal Savings Bank has a diversity of banking products, which include savings accounts, checking accounts, CDs, IRAs and mortgage products. Huntington Federal Savings Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Huntington Federal Savings Bank offers an option without a maintenance or monthly fee. Institutions that offer free checking, in addition to a high savings APY are your best option for returning the most income from your deposits while maintaining easy access to your money.

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

4.6
SmartAsset Average: 3.5

Huntington Federal Savings Bank has a savings rate of 0.40%, which is poor compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 2.12% and 2.88%, respectively, while its highest-yielding money market account earns at a rate of 0.35%. Given Huntington Federal Savings Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Huntington Federal Savings Bank's Savings Rates Compare

Huntington Federal Savings Bank Savings 0.40 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Huntington Federal Savings Bank has typically extremely low fees in comparison to the national average. With no monthly fee, Huntington Federal Savings Bank's checking account is perfect for people who need a hassle-free checking account. Huntington Federal Savings Bank unfortunately does not reimburse out-of-network ATM fees, meaning you will need to find a Huntington Federal Savings Bank ATM or pay the cost of withdrawal.

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

3.7
SmartAsset Average: 3.7

Huntington Federal Savings Bank is a brick-and-mortar bank, with five total branches in West Virginia. It also offers access to mobile and web apps for an easy mobile-banking experience. Huntington Federal Savings Bank gets average feedback from customers for its mobile banking services. The Huntington Federal Savings Bank mobile app is rated at 3.6 out of 5 (with 9 customer reviews on iOS and Android) compared to the national average of 3.8. Huntington Federal Savings Bank's mobile app allows you to manage your accounts by monitoring account balances, sending and receiving money as well as reaching customer service. Huntington Federal Savings Bank receives an outstanding consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Huntington Federal Savings Bank is currently a medium-size bank with $541 million in assets and deposits totaling $454 million. Its Texas Ratio is 4.34%, indicating that Huntington Federal Savings Bank is in superb financial well-being and far from failure. Additionally, Huntington Federal Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.34%
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 Huntington Federal Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.4% APY $1
Checking Account 0.25% APY $1
Certificates of Deposit
  • 12 Month: 2.12% APY
  • 24 Month: 1.86% APY
  • 36 Month: 1.41% APY
  • 48 Month: 1.31% APY
  • 60 Month: 2.88% APY
$500 for all terms
Money Market Accounts 0.35% APY 0.35% APY $10000 $15000

Huntington Federal Savings Bank offers several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. Huntington Federal Savings 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. Huntington Federal Savings Bank's CD rates are fair in comparison to the national average.

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Find a Huntington Federal Savings Bank Near Me

Huntington Federal Savings Bank has five branches across the U.S.

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