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Pioneer Trust Bank Review

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Pioneer Trust Bank Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1924, Pioneer Trust Bank has assets totaling $495 million as well as deposits totaling $436 million, classifying the institution as a medium-size bank. Pioneer Trust Bank, whose headquarters are in Salem, Oregon, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.7 stars out of 5, Pioneer Trust Bank should be near the top of your list for your bank search. Pioneer Trust Bank has a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Pioneer Trust Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Pioneer Trust Bank offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee and a savings account with a high interest rate at the same institution is the best option for gaining the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.7/5
National Average: 4.1

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

Rates

4.5
SmartAsset Average: 3.5

Pioneer Trust Bank features a savings rate of 0.50%, which is poor compared to the average U.S. bank. Pioneer Trust Bank's one-year CD earns at a rate of 1.51%. Given Pioneer Trust Bank's noncompetitive savings rate, you should think about choosing another bank to earn more on your deposits.

How Pioneer Trust Bank's Savings Rates Compare

Pioneer Trust Bank Savings 0.50 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Pioneer Trust Bank charges customers extremely low fees in comparison to the national average. With no monthly fee, Pioneer Trust Bank's checking account is perfect for people who want an easy checking account. Pioneer Trust Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you will be required to locate a Pioneer Trust Bank ATM or eat the cost of withdrawal.

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

4.1
SmartAsset Average: 3.7

Pioneer Trust Bank is a brick-and-mortar bank, with two total bank locations in Oregon. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Pioneer Trust Bank gets relatively positive reviews from users for its mobile banking services. The Pioneer Trust Bank mobile app has been given a 4.3 out of 5 (out of 6 ratings on iOS and Android) compared to the national average of 3.8. Pioneer Trust Bank's mobile app allows you to manage your accounts by reviewing current statements, sending and receiving funds and reaching support representatives. Pioneer Trust Bank receives an exceptional consumer satisfaction score based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.3/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Pioneer Trust Bank ranks as a medium-size bank with assets totaling $495 million and $436 million in deposits. Pioneer Trust Bank has an excellent Texas Ratio of 0.00%, signifying a negligible likelihood of failure. Additionally, Pioneer Trust Bank 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.

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Compare Pioneer Trust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $100
Checking Account 0.3% APY $5000
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.76% APY
$500 for all terms

Pioneer Trust 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 Trust Bank 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. Pioneer Trust Bank's CD rates are fair in comparison to the national average.

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Find a Pioneer Trust Bank Near Me

Pioneer Trust Bank has two locations across the U.S.

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