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National Cooperative Bank Review

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

Overview

Established in 1988, National Cooperative Bank has $2 billion in assets along with deposits totaling $2 billion, classifying the institution as a large bank. National Cooperative Bank, whose headquarters are in Hillsboro, Ohio, 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 apps. With a commendable 4.3 out of 5 stars, National Cooperative Bank is a great choice and should warrant serious consideration. National Cooperative Bank provides customers with a variety of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, National Cooperative Bank offers an option without a maintenance or monthly fee. Institutions that offer no-fee checking and a high savings APY are your best bet for gaining the highest 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

3.2
SmartAsset Average: 3.5

With a savings rate of 0.20%, National Cooperative Bank ranks poorly in comparison to other U.S. banks. National Cooperative Bank's one-year and five-year term lengths CDs earn at a rate of 0.55% and 1.21%, respectively, while its highest-yielding money market account has an APY of 0.40%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.

How National Cooperative Bank's Savings Rates Compare

National Cooperative Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

National Cooperative Bank typically has extremely low fees compared to other U.S. banks. With no monthly fee, National Cooperative Bank's checking account is perfect for people who need a hassle-free checking account. National Cooperative Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you'll need to find a National Cooperative Bank ATM or eat 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

4.5
SmartAsset Average: 3.7

National Cooperative Bank is a brick-and-mortar bank, with three total branches in Ohio. It also offers access to mobile and web apps for a simple mobile-banking experience. National Cooperative Bank's online and mobile banking platforms receive high praise from customers. The National Cooperative Bank mobile app is rated at 5.0 out of 5 (with 1 customer reviews on iOS and Android) compared to the national average of 3.8. You can use National Cooperative Bank's mobile app to control your accounts by reviewing monthly statements, transferring money and accessing customer service. National Cooperative Bank gets a superb consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

4.5
SmartAsset Average: 4.8

National Cooperative Bank ranks as a large bank with $2 billion in assets and deposits totaling $2 billion. National Cooperative Bank's Texas Ratio is 11.23%, indicating a tiny chance of failure. Additionally, National Cooperative Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

11.23%
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 National Cooperative Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $100
Checking Account 0.2% APY $1
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 0.75% APY
  • 36 Month: 0.90% APY
  • 48 Month: 1.01% APY
  • 60 Month: 1.21% APY
$500 for all terms
Money Market Accounts 0.2% APY 0.4% APY $10000 $15000

National Cooperative Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. National Cooperative Bank does not have the best savings rate, which means you should consider 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. National Cooperative Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a National Cooperative Bank Near Me

National Cooperative Bank has three locations in the U.S.

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