Peoples Bank Midwest was founded in 1925 and has its headquarters in Hayward, Wisconsin. Peoples Bank Midwest has $362 million in assets as well as deposits totaling $288 million, making it a small bank. Peoples Bank Midwest 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 access to service representatives at a physical location, in addition to its online and mobile apps. Overall, Peoples Bank Midwest is a satisfactory bank that you should look closer at to see if it fits your needs, with a rating of 3.4 out of 5 stars from our experts. Peoples Bank Midwest provides customers with a complete choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. Peoples Bank Midwest has a fair savings rate; other popular banks have higher rates. Finding a bank with no-fee checking and a high interest rate savings account is your best bet for gaining the highest income on your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Peoples Bank Midwest features a savings rate of 0.10%, which is fair compared to other U.S. banks. Peoples Bank Midwest's one-year CD earns at a rate of 0.30%, while its highest-yielding money market account has an APY of 0.70%. Given its noncompetitive savings rate, you should think about looking elsewhere to open savings accounts.
How Peoples Bank Midwest's Savings Rates Compare
There is insufficient data on Peoples Bank Midwest's fees to provide a full SmartAsset rating.
Peoples Bank Midwest is a brick-and-mortar bank, with three total bank locations in Minnesota and Wisconsin. With mobile and web apps, Peoples Bank Midwest makes account access easy, even on the go. You can use Peoples Bank Midwest's app to manage your bank accounts by checking monthly statements, sending and receiving funds as well as reaching customer service. Peoples Bank Midwest receives a superb consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Peoples Bank Midwest is a small bank and handles $362 million in assets and deposits totaling $288 million. Its Texas Ratio is 3.87%, signifying that Peoples Bank Midwest is in excellent financial shape and improbable to fail. Additionally, Peoples Bank Midwest 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 Peoples Bank Midwest to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$100|
|Checking Account||0.08% APY||$1000|
|Certificates of Deposit|| ||$10000 for all terms|
|Money Market Accounts||0.7% APY 0.7% APY||$10000 $15000|
Peoples Bank Midwest has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Peoples Bank Midwest 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. Peoples Bank Midwest's CD rates are fair in comparison to the national average.Back to Overview
Find a Peoples Bank Midwest Near Me
Peoples Bank Midwest has three branches in the U.S.Back to Overview