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McCook National Bank Review

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McCook National Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1907, McCook National Bank has assets totaling $344 million and deposits totaling $283 million, which makes it a small bank. McCook National Bank, whose headquarters are in Mccook, Nebraska, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional 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 4.3 stars out of 5, McCook National Bank should be solidly in contention for your choice of bank. McCook National Bank provides customers with a diversity of product offerings, including savings accounts, checking accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking does not carry a monthly maintenance fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is your best option for returning the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.9
SmartAsset Average: 3.5

McCook National Bank has a savings rate of 0.20%, which is poor in comparison to other U.S. banks. Its one-year CD earns at a rate of 1.91% and the five-year CD earns at a rate of 2.57%, while its highest-yielding money market account has an APY of 0.65%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How McCook National Bank's Savings Rates Compare

McCook National Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, McCook National Bank charges customers extremely low fees as compared against the national average. McCook National Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. McCook National Bank doesn't refund out-of-network ATM charges, which means you'll need to locate a McCook National 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

4.4
SmartAsset Average: 3.7

McCook National Bank is a brick-and-mortar bank, with four total branches in Colorado and Nebraska. It also offers access to mobile and web apps for a simple mobile-banking experience. McCook National Bank's online and mobile banking services get positive scores from users. The McCook National Bank mobile app has been given a 4.9 out of 5 (with 13 reviews on Apple and Android) compared to the national average of 3.8. McCook National Bank's mobile app lets you manage your finances by looking at current statements, transferring funds as well as reaching customer service. McCook National Bank gets an outstanding consumer satisfaction score due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.0
SmartAsset Average: 4.8

McCook National Bank ranks as a small bank and has $344 million in assets as well as deposits totaling $283 million. McCook National Bank's Texas Ratio is 20.47%, denoting that the bank is in decent financial well-being. Additionally, McCook National Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

20.47%
High Risk 75% 50% 20% 10% Low Risk

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 McCook National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.91% APY
  • 24 Month: 2.12% APY
  • 48 Month: 2.30% APY
  • 60 Month: 2.57% APY
$500 for all terms
Money Market Account 0.25% APY $1000

McCook National Bank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. McCook National 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. McCook National Bank's CD rates are fair as compared against the national average.

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Find a McCook National Bank Near Me

McCook National Bank has four branches across the U.S.

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