Loading
Tap on the profile icon to edit
your financial details.

Merrimack County Savings Bank Review

Your Details Done
by Updated
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Merrimack County Savings Bank Savings
0.19% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Merrimack County Savings Bank first started operating in 1867 and has its headquarters in Concord, New Hampshire. It has $851 million in assets along with $629 million in deposits, which makes it a medium-size bank. Merrimack County 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 in-person service, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.1 stars out of 5, suggesting Merrimack County Savings Bank is a respectable bank that you should consider. Merrimack County Savings Bank has a diverse array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. The bank's standard checking product features a $3.00 monthly fee, which is acceptable compared to the average U.S. bank. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is your best bet for accruing the most income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

3.0
SmartAsset Average: 3.5

Merrimack County Savings Bank has a savings rate of 0.19%, which is poor in comparison to other U.S. banks. Its one-year and five-year term lengths CDs earn at a rate of 0.45% and 1.00%, respectively, while its highest-yielding money market account has a rate of 0.30%. Given its below average savings rate, you should think about taking a look at other banks for savings accounts.

How Merrimack County Savings Bank's Savings Rates Compare

Merrimack County Savings Bank Savings 0.19 National Average 0.26 Compare Offers
Back to Overview

Fees

3.9
SmartAsset Average: 4.4

On average, Merrimack County Savings Bank charges its customers above-average fees as compared against the national average. Merrimack County Savings Bank's checking account has a monthly fee of $3.00, which makes it slightly worse for anyone looking for a simple account. For those who will need cash in a pinch, it is not ideal because it charges an out-of-network ATM fee of $3.00, which is not ideal in comparison to the national average. Additionally, at $32.50, Merrimack County Savings Bank has a significantly lower overdraft fee compared to the national average. Merrimack County Savings Bank doesn't reimburse out-of-network ATM charges, which means you will need to find a Merrimack County Savings Bank ATM or eat the withdrawal fee.

Monthly Fee $3.00 National Average: $3.21
Non-network ATM Fee $3.00 National Average: $1.20
Overdraft Fee $32.50 National Average: $35.00
Back to Overview

Service Quality

4.3
SmartAsset Average: 3.7

Merrimack County Savings Bank is a brick-and-mortar bank, with nine 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 have 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 5:30 p.m. ET; Saturday, and 9:00 a.m. to 2:00 p.m. ET; Sunday 11:00 a.m. to 2:00 p.m. ET. Merrimack County Savings Bank's online and mobile banking platforms receive high marks from customers. Out of 280 customer reviews on both Apple and Android platforms, the Merrimack County Savings Bank mobile app is scored at 4.6 out of 5 (compared to the national average of 3.8). Merrimack County Savings Bank's mobile app allows you to manage your finances by looking at account balances, transferring money and accessing support representatives. Merrimack County Savings Bank receives an exceptional consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

5.0
SmartAsset Average: 4.8

Merrimack County Savings Bank is a medium-size bank owning assets totaling $851 million as well as deposits totaling $629 million. Merrimack County Savings Bank's Texas Ratio is 1.83%, suggesting a minute chance of failure. Additionally, Merrimack County 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.

Back to Overview

Compare Merrimack County Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.19% APY $2500
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 2.50% APY
  • 36 Month: 0.65% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.00% APY
$500 for all terms
Money Market Accounts 0.25% APY 0.3% APY $10000 $15000

Merrimack County Savings Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Merrimack County 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. Merrimack County Savings Bank's CD rates are fair compared to the average U.S. bank.

Back to Overview

Find a Merrimack County Savings Bank Near Me

Merrimack County Savings Bank has nine physical locations across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure