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Peoples Bank Midwest Review

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Peoples Bank Midwest Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Peoples Bank Midwest was founded in 1925 with headquarters in Hayward, Wisconsin. Peoples Bank Midwest has $362 million in assets along with deposits totaling $288 million, making it a small bank. Peoples Bank Midwest 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 in-person service, in addition to its online and mobile apps. Overall, Peoples Bank Midwest is a fair bank that might not serve all your needs, with a score of 3.4 stars out of 5 from our team. Peoples Bank Midwest offers a full array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and mortgage products. It has a fair savings rate compared to the average savings account. Institutions that offer no-fee checking, in addition to a high interest rate savings account are the best option for gaining the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Peoples Bank Midwest has a savings rate of 0.10%, which is poor in comparison 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 earns at an APY of 0.40%. Given Peoples Bank Midwest's below average savings rate, you should consider other options to earn more on your deposits.

How Peoples Bank Midwest's Savings Rates Compare

Peoples Bank Midwest Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on Peoples Bank Midwest's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

SmartAsset Average: 3.7

Peoples Bank Midwest is a brick-and-mortar bank, with three total branches in Minnesota and Wisconsin. With mobile and web apps, Peoples Bank Midwest makes mobile banking straightforward, even on the go. You can utilize Peoples Bank Midwest's mobile app to manage your finances by monitoring current statements, sending and receiving money and reaching customer service. Peoples Bank Midwest gets an outstanding consumer satisfaction rating due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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

SmartAsset Average: 4.8

Peoples Bank Midwest ranks as a small bank and handles $362 million in assets as well as $288 million in deposits. Its Texas Ratio is 3.87%, suggesting a minute possibility of failure. 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

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 Peoples Bank Midwest to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $100
Checking Account 0.08% APY $1000
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.55% APY
  • 48 Month: 0.70% APY
$10000 for all terms
Money Market Account 0.4% APY $10000

Peoples Bank Midwest offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Peoples Bank Midwest 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. Peoples Bank Midwest's CD rates are fair in comparison to the national average.

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Find a Peoples Bank Midwest Near Me

Peoples Bank Midwest has three branches in the U.S.

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