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Madison County Bank Review

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Madison County Bank Savings
0.80% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Madison County Bank was founded in 1888 with headquarters located in Madison, Nebraska. Madison County Bank owns assets of $389 million along with deposits totaling $264 million, making it a small bank. Madison County Bank 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 apps. Coming in at a commendable 4.4 stars out of 5, Madison County Bank proves it is a solid pick to be your bank. Madison County Bank has a complete suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Madison County Bank's standard checking account does not carry a monthly maintenance charge. Banks that offer free checking and a high savings APY are the best option for returning the highest income from your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

5.0
SmartAsset Average: 3.5

With a savings rate of 0.80%, Madison County Bank ranks poorly in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 2.00% and 2.80%, respectively, while its highest-yielding money market account earns at a rate of 0.80%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How Madison County Bank's Savings Rates Compare

Madison County Bank Savings 0.80 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Madison County Bank charges customers extremely low fees compared to the average U.S. bank. With no monthly fee, Madison County Bank is perfect for those who want a simple banking experience. Madison County Bank unfortunately does not refund out-of-network ATM fees, which means you'll have to find a Madison County Bank ATM or pay the ATM charge.

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

2.5
SmartAsset Average: 3.7

Madison County Bank is a brick-and-mortar bank, with five total bank locations in Nebraska. It also offers access to mobile and web apps for simple access and banking on the go. You can use Madison County Bank's app to control your accounts by monitoring account balances, sending and receiving money as well as reaching customer service. Madison County Bank gets an outstanding consumer satisfaction rating based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

5.0
SmartAsset Average: 4.8

Madison County Bank is a small bank and manages $389 million in assets and deposits totaling $264 million. Its Texas Ratio is 0.17%, signifying that Madison County Bank is in superb financial health and far from failure. Additionally, Madison County 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 Madison County Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.8% APY $1
Checking Account 0.2% APY $1000
Certificates of Deposit
  • 12 Month: 2.00% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.60% APY
  • 60 Month: 2.80% APY
$500 for all terms
Money Market Accounts 0.8% APY 0.8% APY $10000 $15000

Madison County Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Madison County Bank does not have the best savings rate, which means you should consider 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. Madison County Bank's CD rates are fair compared to the national average.

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Find a Madison County Bank Near Me

Madison County Bank has five locations in the U.S.

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