Manufacturers Bank Review

Overview

Founded in 1962, Manufacturers Bank has assets totaling $3 billion and deposits totaling $2 billion, ranking it as a large bank. Manufacturers Bank, whose headquarters are in Los Angeles, California, lacks premium access to support representatives, with no live chat or all-day service options available. 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 ranked Manufacturers Bank at a 3.6 stars out of 5, which means it is an acceptable bank choice, but may leave you wanting more. Manufacturers Bank offers a diverse array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Manufacturers Bank has a fair savings rate; you can find higher rates with other banks. Locating a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is your best option for returning the most income from your deposits alongside convenient access to your money.

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

With a savings rate of 0.20%, Manufacturers Bank ranks poorly compared to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.60% and 0.75%, respectively, while its highest-yielding money market account earns at an APY of 0.15%. Given its noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How Manufacturers Bank's Savings Rates Compare

There is insufficient data on Manufacturers Bank's fees to provide a full SmartAsset rating.

Manufacturers Bank is a brick-and-mortar bank, with 10 total branches in California. With a mobile app, Manufacturers Bank provides straightforward account access, even from home or work. Manufacturers Bank gets an exceptional consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Manufacturers Bank is currently a large bank owning assets totaling $3 billion and $2 billion in deposits. Its Texas Ratio is 0.04%, signifying a low chance of failure. Additionally, Manufacturers 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.

Products Offered

Manufacturers Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Manufacturers 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. Manufacturers Bank's CD rates are fair compared to the national average.

Find a Manufacturers Bank Near Me

Manufacturers Bank has 10 physical branches across the U.S.