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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

Established in 1888, Madison County Bank has assets totaling $389 million and deposits totaling $264 million, which makes the institution a small bank. Madison County Bank, whose headquarters are in Madison, Nebraska, 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 access to service representatives at a physical location, in addition to its online and mobile apps. With a score of 4.4 stars out of 5, Madison County Bank should be solidly in contention for your choice of bank. Madison County Bank provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Madison County Bank 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 offers an option without a monthly fee. Institutions that offer free checking and a high interest rate savings account are your best bet for gaining the most income on your deposits while having easy access to your funds.

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

Madison County Bank features a savings rate of 0.80%, which is fair compared to the national average. Its one-year CD has a rate of 1.80% and the five-year CD has a rate of 2.75%, while its highest-yielding money market account has an APY of 0.80%. Given Madison County Bank's poor savings rate, you should consider opting for higher earning savings accounts with other banks.

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

Madison County Bank has typically extremely low fees in comparison to the average U.S. bank. Madison County Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Madison County Bank doesn't refund out-of-network ATM fees, meaning you will be required to locate 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 branches in Nebraska. With mobile and web apps, Madison County Bank makes mobile banking easy, even on the go. Madison County Bank's mobile app lets you manage your accounts by checking current statements, transferring money and reaching support representatives. Madison County Bank gets a superb consumer satisfaction score due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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 owning $389 million in assets as well as deposits totaling $264 million. Its Texas Ratio is 0.17%, suggesting that the bank is in excellent financial shape 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: 1.80% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.25% APY
  • 48 Month: 2.40% APY
  • 60 Month: 2.75% APY
$500 for all terms
Money Market Account 0.8% APY $1

Madison County Bank has several deposit products including 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 other U.S. banks.

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Find a Madison County Bank Near Me

Madison County Bank has five branches across the U.S.

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