Meredith Village Savings Bank Review

Overview

Meredith Village Savings Bank started in 1869 and is headquartered in Meredith, New Hampshire. It has assets of $906 million and $689 million in deposits, making it a medium-size bank. Meredith Village Savings Bank lacks premium access to customer service, 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. On the whole, Meredith Village Savings Bank is a good bank that deserves your consideration, with a score of 4.1 stars out of 5 from the SmartAsset team. Meredith Village Savings Bank provides customers with a complete suite of banking products, including 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 account carries a $3.00 monthly fee, which is not too high as compared against the national average. Using a bank with free checking and a high interest rate savings account is the best option for gaining the most income on your deposits while having convenient access to your funds.

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

With a savings rate of 0.19%, Meredith Village Savings Bank ranks poorly in comparison to the national average. Meredith Village Savings Bank's one-year and five-year term lengths CDs earn at a rate of 0.45% and 1.15%, respectively, while its highest-yielding money market account earns at an APY of 0.30%. Given Meredith Village Savings Bank's below average savings rate, you should consider taking a look at other banks for savings accounts.

How Meredith Village Savings Bank's Savings Rates Compare

On average, Meredith Village Savings Bank charges customers above-average fees in comparison to the national average. Meredith Village Savings Bank's checking account has a monthly fee of $3.00, rating it slightly worse for anyone looking for a simple account. For those who will need cash in a pinch, Meredith Village Savings Bank is less than ideal because it charges an out-of-network ATM fee of $3.00, which is not great compared to the national average. Also, at $32.50, its overdraft fee is considerably lower than the national average overdraft fee. Meredith Village Savings Bank unfortunately does not reimburse out-of-network ATM fees, meaning you'll have to locate a Meredith Village Savings Bank ATM or pay the fee.

Meredith Village Savings Bank is a brick-and-mortar bank, with 16 total branches in New Hampshire. It also offers access to mobile and web apps for easy access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Wednesday, 7:30 a.m. to 5:30 p.m. ET; Thursday and Friday, 7:30 a.m. to 6:00 p.m. ET; Saturday, 8:00 a.m. to 2:00 p.m. ET; Sunday, and 8:30 a.m. to 2:00 p.m. ET. Meredith Village Savings Bank's online and mobile banking services receive great feedback from customers. Out of 140 ratings across Apple and Android platforms, the Meredith Village Savings Bank mobile app is scored at 4.8 out of 5 (compared to the national average of 3.8). Meredith Village Savings Bank's mobile app allows you to manage your finances by looking at account balances, sending and receiving money and reaching customer service. Meredith Village Savings Bank receives a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Meredith Village Savings Bank is a medium-size bank with $906 million in assets and deposits totaling $689 million. Meredith Village Savings Bank has an excellent Texas Ratio of 2.94%, indicating a low likelihood of failure. Additionally, Meredith Village Savings 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

Meredith Village Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Meredith Village Savings Bank does not have the best savings rate, which means you should think about 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. Meredith Village Savings Bank's CD rates are fair in comparison to other U.S. banks.

Find a Meredith Village Savings Bank Near Me

Meredith Village Savings Bank has 16 branches in the U.S.