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Pioneer Trust Bank Review

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

Overview

Pioneer Trust Bank first started operating in 1924 and is headquartered in Salem, Oregon. It handles $495 million in assets along with $436 million in deposits, classifying it as a medium-size bank. Pioneer Trust Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. We gave Pioneer Trust Bank a 4.7 stars out of 5, which means it is among the top banks, and should be given serious consideration. Pioneer Trust Bank offers a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Pioneer Trust Bank's ordinary checking account does not have a monthly fee. Banks that offer no-fee checking and a high interest rate savings account are your best bet for gaining the most income from your deposits while maintaining convenient 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 has a savings rate of 0.50%, which is poor compared to other U.S. banks. Pioneer Trust Bank's one-year CD has a rate of 1.51%, while its highest-yielding money market account earns at an APY of 1.00%. Given its noncompetitive savings rate, you should consider 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 its customers extremely low fees compared to the national average. With no monthly fee, Pioneer Trust Bank's checking account is ideal for people who need an easy checking account. Pioneer Trust Bank doesn't reimburse out-of-network ATM fees, which means you will need to search for a Pioneer Trust Bank ATM or pay the 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

4.1
SmartAsset Average: 3.7

Pioneer Trust Bank is a brick-and-mortar bank, with two total branches in Oregon. It also offers access to mobile and web apps for a simple mobile-banking experience. Pioneer Trust Bank gets fairly good feedback from users for its mobile app. The Pioneer Trust Bank mobile app scored a 4.3 out of 5 (out of 6 ratings on iOS and Android) compared to the national average of 3.8. You can use Pioneer Trust Bank's mobile app to manage your accounts by looking at current statements, transferring money and accessing support representatives. Pioneer Trust Bank receives an excellent consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 is currently a medium-size bank with $495 million in assets as well as deposits totaling $436 million. Pioneer Trust Bank's Texas Ratio is 0.00%, denoting a low chance 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 0.5% APY $5000
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.76% APY
$500 for all terms
Money Market Accounts 0.5% APY 1.0% APY $10000 $15000

Pioneer Trust Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Pioneer Trust Bank does not have the best savings rate, which means you should consider other options 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 compared to the national average.

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Find a Pioneer Trust Bank Near Me

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

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