Northwest Community Bank was founded in 1875 and is headquartered in Winsted, Connecticut. Northwest Community Bank owns assets of $389 million along with $288 million in deposits, making it a small bank. Northwest Community Bank lacks premium access to support representatives, 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 offerings. With a commendable 4.1 out of 5 stars, Northwest Community Bank proves it is a good bank that should be given a look. Northwest Community Bank has a complete selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Northwest Community Bank has a fair savings rate compared to the average savings account. Finding a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best option for gaining the most income from your deposits alongside easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Northwest Community Bank has a savings rate of 0.10%, which is fair as compared against the national average. Its CD rates are 0.40% and 0.90% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given Northwest Community Bank's below average savings rate, you should think about other options to earn more on your deposits.
How Northwest Community Bank's Savings Rates Compare
There is insufficient data on Northwest Community Bank's fees to provide a full SmartAsset rating.
Northwest Community Bank is a brick-and-mortar bank, with six total branches in Connecticut. It also offers access to mobile and web apps for a simple mobile-banking experience. Northwest Community Bank receives high marks from users for its online presence. With 5 ratings on both Apple and Android platforms, the Northwest Community Bank mobile app is scored at 4.8 out of 5 (compared to the national average of 3.8). You can access Northwest Community Bank's mobile app to control your funds by reviewing current statements, sending and receiving money and accessing customer service. Northwest Community Bank receives a superb consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Northwest Community Bank is currently a small bank and has assets totaling $389 million as well as $288 million in deposits. Northwest Community Bank's Texas Ratio is 2.10%, suggesting a negligible likelihood of failure. Additionally, Northwest Community 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 Northwest Community Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$50|
|Checking Account||0.05% APY||$50|
|Certificates of Deposit|| ||$10000 for all terms|
|Money Market Accounts||0.2% APY 0.2% APY||$10000 $15000|
Northwest Community Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Northwest Community Bank does not have the best savings rate, which means you should think about 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. Northwest Community Bank's CD rates are fair as compared against the national average.Back to Overview
Find a Northwest Community Bank Near Me
Northwest Community Bank has six physical branches in the U.S.Back to Overview