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Rock Canyon Bank Review

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


Founded in 1991, Rock Canyon Bank has assets totaling $397 million as well as deposits totaling $358 million, making it a small bank. Rock Canyon Bank, whose headquarters are in Provo, Utah, 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. Coming in at a commendable 4.3 out of 5 stars, Rock Canyon Bank proves it is a great choice and should warrant serious consideration. Rock Canyon Bank offers a complete selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Rock Canyon Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Rock Canyon Bank's standard checking account does not carry a monthly charge. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for accruing the most income from your deposits while maintaining easy 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

With a savings rate of 0.10%, Rock Canyon Bank ranks poorly in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 1.21% and 2.27%, respectively, while its highest-yielding money market account has a rate of 0.35%. Given Rock Canyon Bank's noncompetitive savings rate, you should consider looking elsewhere to open savings accounts.

How Rock Canyon Bank's Savings Rates Compare

Rock Canyon Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Rock Canyon Bank has generally extremely low fees compared to other U.S. banks. With no monthly fee, Rock Canyon Bank is ideal for people who want a simple checking account. Rock Canyon Bank unfortunately doesn't reimburse out-of-network ATM charges, meaning you'll be required to search for a Rock Canyon Bank ATM or pay 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

SmartAsset Average: 3.7

Rock Canyon Bank is a brick-and-mortar bank, with five total bank locations in Utah. With mobile and web apps, Rock Canyon Bank makes account access straightforward, even on the go. Rock Canyon Bank gets reasonably high praise from users for its mobile app. With 42 ratings across both Apple and Android platforms, the Rock Canyon Bank mobile app is scored at 4.4 out of 5 (compared to the national average of 3.8). Rock Canyon Bank's mobile app lets you manage your finances by monitoring account balances, sending and receiving money as well as accessing support representatives. Rock Canyon Bank gets a superb consumer satisfaction score due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Rock Canyon Bank ranks as a small bank and handles $397 million in assets and deposits totaling $358 million. It has a strong Texas Ratio of 11.69%, suggesting that the bank is in good financial health and far from failure. Additionally, Rock Canyon 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 Rock Canyon Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $50
Checking Account 0.1% APY $500
Certificates of Deposit
  • 12 Month: 1.21% APY
  • 24 Month: 1.41% APY
  • 36 Month: 1.51% APY
  • 48 Month: 1.76% APY
  • 60 Month: 2.27% APY
$500 for all terms
Money Market Account 0.3% APY $1000

Rock Canyon Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Rock Canyon 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. Rock Canyon Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Rock Canyon Bank Near Me

Rock Canyon Bank has five physical branches in the U.S.

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