Marquette Bank Review

Marquette Bank Savings

0.01% APY

Marquette Bank was founded in 1945 with its headquarters in Chicago, Illinois. It manages assets totaling $2 billion and deposits totaling $1 billion, classifying it as a large bank. Marquette Bank has exceptional customer service access, with multiple options of getting help from representatives, including live chat and all-day customer service. It is a conventional brick-and-mortar bank, which means in-person service, in addition to its online and mobile presence. Overall, Marquette Bank is a respectable bank that deserves your consideration with a rating of 4.1 out of 5 stars from the SmartAsset team. 

Marquette Bank has the complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product has a monthly fee of $7.00, although banks sometimes have requirements that allow you to waive the fee. Opening accounts in one place is perfect for getting the most return on your money while keeping access to your money without having to wait for money to transfer between accounts.

Service Quality

Marquette Bank is a brick-and-mortar bank, with 24 total branches in Illinois. With mobile and web apps, Marquette Bank makes account access straightforward, even on the go. It has access to all-day access to representatives. Additionally, Marquette Bank offers a live chat feature, a helpful way to reach a representative during the work day.

Marquette Bank's online and mobile banking platforms receive reasonably high marks from users: the Marquette Bank mobile app scored a 3.4 out of 5 (with 130 customer reviews on Apple and Android) compared to the national average of 3.8. You can access Marquette Bank's mobile app to control your finances by reviewing monthly statements, sending and receiving funds and accessing support representatives. Marquette Bank gets an excellent consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Marquette Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Marquette Bank does not have the best savings rate, which means you should think about other options for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Marquette Bank's CD rates are competitive as compared against the national average.

Rates

Marquette Bank features a savings rate of 0.01%, which is fair compared to the national average. Its CDs feature a rate of 0.18% and 1.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.11%. Marquette Bank has a fair savings rate, which means other popular banks have higher rates. Think about other options to earn more on your deposits.

Fees

Marquette Bank typically has average fees in comparison to the average U.S. bank. At $7.00 per month, Marquette Bank's checking account is not ideal for people who want an easy banking experience. For those who withdraw cash routinely, it is perfect because it offers no ATM fees. Also, at $35, its overdraft fee is lower than the national average, making it good for those who don't check their balance often. 

Financial Health

Marquette Bank ranks as a large bank and has $2 billion in assets as well as $1 billion in deposits. It has a very good Texas Ratio of 9.16%, signifying a tiny possibility of failure. Additionally, Marquette Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Marquette Bank Near Me

Marquette Bank has 24 physical branches across the U.S.