Established in 2001, Northstar Bank has assets totaling $638 million along with deposits totaling $564 million, which makes it a medium-size bank. Northstar Bank, whose headquarters are in Bad Axe, Michigan, 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 in-person service, in addition to its online and mobile apps. With an average 3.9 out of 5 stars, Northstar Bank is a respectable bank that gets the job done. Northstar Bank provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Northstar Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly maintenance charge. Locating a bank with no-fee checking as well as a high savings APY 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
Northstar Bank has a savings rate of 0.10%, which is fair as compared against the national average. Northstar Bank's one-year and five-year term lengths CDs earn at a rate of 0.65% and 1.66%, respectively, while its highest-yielding money market account has an APY of 0.15%. Given Northstar Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.
How Northstar Bank's Savings Rates Compare
Northstar Bank charges its customers extremely low fees compared to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Northstar Bank doesn't reimburse out-of-network ATM fees, which means you will have to search for a Northstar Bank ATM or accept the ATM charge.
Northstar Bank is a brick-and-mortar bank, with 12 total bank locations in Michigan. It also offers access to mobile and web apps for straightforward access and banking on the go. Northstar Bank gets unsatisfactory feedback from users for its mobile banking services. With 10 ratings across both iOS and Android platforms, the Northstar Bank mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). Northstar Bank's mobile app allows you to manage your accounts by looking at account balances, sending and receiving funds as well as accessing customer service. Northstar Bank receives an outstanding consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Northstar Bank ranks as a medium-size bank with assets totaling $638 million and $564 million in deposits. Northstar Bank's Texas Ratio is 16.75%, suggesting that the bank is in good financial well-being and unlikely to fail. Additionally, Northstar 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 Northstar Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$2500|
|Checking Account||0.15% APY||$2500|
|Certificates of Deposit|| ||$10000 for all terms|
|Money Market Accounts||0.15% APY 0.15% APY||$10000 $15000|
Northstar Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Northstar Bank does not have the best savings rate, which means you should consider taking a look 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. Northstar Bank's CD rates are fair in comparison to the national average.Back to Overview
Find a Northstar Bank Near Me
Northstar Bank has 12 branches in the U.S.Back to Overview