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Mauch Chunk Trust Company Review

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Mauch Chunk Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Mauch Chunk Trust Company Bank was founded in 1902 and has its headquarters in Jim Thorpe, Pennsylvania. Mauch Chunk Trust Company manages $420 million in assets and deposits totaling $330 million, making it a medium-size bank. Mauch Chunk Trust Company 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. With a score of 3.9 stars out of 5, Mauch Chunk Trust Company should be near the middle of the pack in your search for a bank. Mauch Chunk Trust Company offers a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Mauch Chunk Trust Company's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for getting the most income from your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

Mauch Chunk Trust Company has a savings rate of 0.05%, which is poor as compared against the national average. Mauch Chunk Trust Company's one-year CD earns at a rate of 0.25% and the five-year CD has a rate of 1.36%, while its highest-yielding money market account has an APY of 0.15%. Given Mauch Chunk Trust Company's poor savings rate, you should consider taking a look at other banks for savings accounts.

How Mauch Chunk Trust Company's Savings Rates Compare

Mauch Chunk Trust Company Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.0
SmartAsset Average: 4.4

Mauch Chunk Trust Company charges customers average fees as compared against the national average. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who regularly visit the ATM, it is fair because it has an out-of-network ATM fee of $2.00, which is reasonable in comparison to the national average. Mauch Chunk Trust Company doesn't refund out-of-network ATM charges, meaning you'll have to locate a Mauch Chunk Trust Company ATM or accept the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $2.00 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.6
SmartAsset Average: 3.7

Mauch Chunk Trust Company Bank is a brick-and-mortar bank, with eight total branches in Pennsylvania. With mobile and web apps, Mauch Chunk Trust Company makes mobile banking easy, even on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. ET; Saturday, and 8:00 a.m. to 1:00 p.m. ET. Mauch Chunk Trust Company gets unsatisfactory marks from customers for its mobile banking services. With 5,000 ratings on both Apple and Android platforms, the Mauch Chunk Trust Company mobile app is scored at 3.3 out of 5 (compared to the national average of 3.8). Mauch Chunk Trust Company's mobile app lets you control your funds by monitoring monthly statements, sending and receiving funds and reaching customer service. Mauch Chunk Trust Company gets an outstanding consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.3/5
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

Mauch Chunk Trust Company is currently a medium-size bank with assets totaling $420 million as well as $330 million in deposits. Mauch Chunk Trust Company's Texas Ratio is 1.07%, signifying a negligible probability of failure. Additionally, Mauch Chunk Trust Company 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 Mauch Chunk Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $3500
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.50% APY
  • 36 Month: 1.05% APY
  • 48 Month: 1.21% APY
  • 60 Month: 1.36% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.15% APY $10000 $15000

Mauch Chunk Trust Company Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Mauch Chunk Trust Company does not have the best savings rate, which means you should think about 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. Mauch Chunk Trust Company's CD rates are fair compared to the national average.

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Find a Mauch Chunk Trust Company Near Me

Mauch Chunk Trust Company has eight physical locations in the U.S.

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