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Pathfinder Bank Review

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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
Pathfinder Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2002, Pathfinder Bank has assets totaling $880 million as well as deposits totaling $729 million, classifying it as a medium-size bank. Pathfinder Bank, whose headquarters are in Oswego, New York, lacks premium access to support representatives, 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 offerings. On the whole, Pathfinder Bank is a good bank that deserves your consideration, with a rating of 4.0 out of 5 stars from the SmartAsset experts. Pathfinder Bank has a full selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Pathfinder Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Pathfinder Bank offers an option without a maintenance or monthly fee. Institutions that offer no-fee checking, in addition to a high savings APY are your best bet for getting the most income on your deposits alongside easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
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

With a savings rate of 0.05%, Pathfinder Bank ranks poorly compared to the average U.S. bank. Its CDs feature a rate of 0.65% and 1.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.20%. Given Pathfinder Bank's poor savings rate, you should consider choosing another bank to earn more on your deposits.

How Pathfinder Bank's Savings Rates Compare

Pathfinder Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.8
SmartAsset Average: 4.4

Pathfinder Bank has generally extremely low fees compared to the national average. Pathfinder Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Additionally, it has an overdraft fee of $32.00, which is less than the average overdraft fee charged by U.S. banks. Pathfinder Bank unfortunately does not refund out-of-network ATM fees, which means you'll have to locate a Pathfinder Bank ATM or eat the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $32.00 National Average: $35.00
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Service Quality

3.5
SmartAsset Average: 3.7

Pathfinder Bank is a brick-and-mortar bank, with nine total bank locations in New York. It also offers access to mobile and web apps for an easy mobile-banking experience. Pathfinder Bank's online and mobile banking platforms receive poor marks from users. With 25 customer reviews on iOS and Android platforms, the Pathfinder Bank mobile app has an overall rating of 3.2 out of 5 (compared to the national average of 3.8). You can use Pathfinder Bank's mobile app to control your bank accounts by checking current statements, transferring money and accessing customer service. Pathfinder Bank receives a superb consumer satisfaction score based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Pathfinder Bank is currently a medium-size bank with $880 million in assets as well as $729 million in deposits. Its Texas Ratio is 6.47%, signifying a tiny chance of failure. Additionally, Pathfinder Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.47%
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 Pathfinder Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $100
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.85% APY
  • 36 Month: 1.15% APY
  • 48 Month: 1.40% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Accounts 0.15% APY 0.2% APY $10000 $15000

Pathfinder Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Pathfinder Bank does not have the best savings rate, which means you should consider other options 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. Pathfinder Bank's CD rates are fair compared to the national average.

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Find a Pathfinder Bank Near Me

Pathfinder Bank has nine physical locations across the U.S.

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