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Pioneer Bank Review

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Pioneer Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Pioneer Bank first started operating in 2007 with headquarters in Austin, Texas. It has $1 billion in assets along with deposits totaling $932 million, ranking it as a medium-size bank. Pioneer Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4.4 out of 5 stars, Pioneer Bank is a solid contender in your bank search. Pioneer Bank has a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs and mortgage products. Pioneer Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Pioneer Bank's standard checking account does not have a monthly charge. Using an institution with free checking and a high interest rate savings account is your best bet for gaining the highest income from your deposits alongside convenient access to your funds.

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

Pioneer Bank features a savings rate of 0.20%, which is fair in comparison to other U.S. banks. Its one-year CD has a rate of 2.00% and the five-year CD earns at a rate of 3.00%, while its highest-yielding money market account earns at a rate of 0.75%. Given Pioneer Bank's noncompetitive savings rate, you should think about other options to earn more on your deposits.

How Pioneer Bank's Savings Rates Compare

Pioneer Bank Savings 0.20 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Pioneer Bank charges customers extremely low fees compared to the national average. Pioneer Bank's checking account has no monthly fee, making it excellent for anyone looking for a simple account. Pioneer Bank unfortunately doesn't reimburse out-of-network ATM charges, which means you will need to search for a Pioneer Bank ATM or accept 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
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Service Quality

SmartAsset Average: 3.7

Pioneer Bank is a brick-and-mortar bank, with 22 total bank locations in Texas. With mobile and web apps, Pioneer Bank makes mobile banking convenient, even on the go. Pioneer Bank's online and mobile banking services receive high marks from users. Out of 20 customer reviews across both iOS and Android platforms, the Pioneer Bank mobile app rates a 4.5 out of 5 (compared to the national average of 3.8). You can access Pioneer Bank's mobile app to control your funds by reviewing current statements, sending and receiving funds as well as reaching support representatives. Pioneer Bank receives an excellent consumer satisfaction rating based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Pioneer Bank is a medium-size bank with $1 billion in assets as well as $932 million in deposits. Pioneer Bank has a strong Texas Ratio of 5.15%, indicating a small opportunity of failure. Additionally, Pioneer Bank 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 Pioneer Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $1
Checking Account 0.2% APY $1
Certificates of Deposit
  • 12 Month: 2.00% APY
  • 24 Month: 2.50% APY
  • 36 Month: 2.50% APY
  • 48 Month: 2.75% APY
  • 60 Month: 3.00% APY
$1000 for all terms
Money Market Account 0.5% APY $1

Pioneer Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Pioneer Bank 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. Pioneer Bank's CD rates are fair compared to the national average.

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Find a Pioneer Bank Near Me

Pioneer Bank has 22 physical locations in the U.S.

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