Loading
Tap on the profile icon to edit
your financial details.

Phoenixville Federal Bank and Trust Review

Your Details Done
by Updated
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
Phoenixville Federal Bank and Trust Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1911, Phoenixville Federal Bank and Trust has $437 million in assets along with deposits totaling $385 million, making the institution a medium-size bank. Phoenixville Federal Bank and Trust, whose headquarters are in Phoenixville, Pennsylvania, 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, Phoenixville Federal Bank and Trust is a solid pick to be your bank, with a score of 4.4 out of 5 stars from our experts. Phoenixville Federal Bank and Trust has the complete slate of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Phoenixville Federal Bank and Trust has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Phoenixville Federal Bank and Trust's ordinary checking account does not have a monthly fee. Locating a bank with no-fee checking, in addition to a high interest rate savings account is your best bet for accruing the highest income on your deposits alongside convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.4/5
National Average: 4.1

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

Rates

3.7
SmartAsset Average: 3.5

With a savings rate of 0.15%, Phoenixville Federal Bank and Trust ranks poorly as compared against the national average. Its one-year CD earns at a rate of 1.50% and the five-year CD has a rate of 3.00%, while its highest-yielding money market account has a rate of 0.15%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Phoenixville Federal Bank and Trust's Savings Rates Compare

Phoenixville Federal Bank and Trust Savings 0.15 National Average 0.26 Compare Offers
Back to Overview

Fees

5.0
SmartAsset Average: 4.4

Phoenixville Federal Bank and Trust generally has extremely low fees as compared against the national average. Its checking account has no monthly fee, making it excellent for anyone looking for a simple account. Phoenixville Federal Bank and Trust does not reimburse out-of-network ATM charges, meaning you will have to find a Phoenixville Federal Bank and Trust 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 N/A National Average: $35.00
Back to Overview

Service Quality

3.9
SmartAsset Average: 3.7

Phoenixville Federal Bank and Trust is a brick-and-mortar bank, with seven total branches in Pennsylvania. It also offers access to mobile and web apps for a simple mobile-banking experience. Phoenixville Federal Bank and Trust's online and mobile banking platforms receive moderate marks from users. With 33 ratings across Apple and Android platforms, the Phoenixville Federal Bank and Trust mobile app is scored at 3.8 out of 5 (compared to the national average of 3.8). Phoenixville Federal Bank and Trust's mobile app lets you control your bank accounts by checking monthly statements, sending and receiving funds and accessing support representatives. Phoenixville Federal Bank and Trust gets a superb consumer satisfaction rating based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.8/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.8
SmartAsset Average: 4.8

Phoenixville Federal Bank and Trust is a medium-size bank and owns $437 million in assets and deposits totaling $385 million. Phoenixville Federal Bank and Trust's Texas Ratio is 4.43%, indicating a negligible likelihood of failure. Additionally, Phoenixville Federal Bank and Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.43%
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.

Back to Overview

Compare Phoenixville Federal Bank and Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 2.25% APY
  • 36 Month: 2.40% APY
  • 48 Month: 2.40% APY
  • 60 Month: 3.00% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.15% APY $10000 $15000

Phoenixville Federal Bank and Trust has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Phoenixville Federal Bank and Trust 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. Phoenixville Federal Bank and Trust's CD rates are fair in comparison to other U.S. banks.

Back to Overview

Find a Phoenixville Federal Bank and Trust Near Me

Phoenixville Federal Bank and Trust has seven physical branches across the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure