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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


Established in 1991, Rock Canyon Bank has $397 million in assets and deposits totaling $358 million, classifying the institution as 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 offerings. We gave Rock Canyon Bank a 4.3 stars out of 5, which means it is a great bank that you should seriously consider. Rock Canyon Bank provides customers with a complete array of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Rock Canyon Bank has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, the bank's most basic checking account does not carry a monthly maintenance charge. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same bank is the best option for accruing the most income on your deposits alongside convenient access to your money.

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 other U.S. banks. Its one-year CD has a rate of 1.21% and the five-year CD has a rate of 2.27%, while its highest-yielding money market account earns at a rate of 0.35%. Given Rock Canyon Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

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 charges customers extremely low fees compared to the average U.S. bank. With no monthly fee, Rock Canyon Bank is perfect for people who want a basic checking account. Rock Canyon Bank unfortunately doesn't reimburse out-of-network ATM fees, which means you will have to find a Rock Canyon Bank ATM or accept 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 branches in Utah. With mobile and web apps, Rock Canyon Bank makes account access straightforward, even on the go. Rock Canyon Bank gets fairly high praise from users for its online presence. The Rock Canyon Bank mobile app has been given a 4.4 out of 5 (with 42 ratings on Apple and Android) compared to the national average of 3.8. Rock Canyon Bank's mobile app lets you control your finances by looking at monthly statements, transferring money as well as accessing customer service. Rock Canyon Bank receives an outstanding consumer satisfaction rating due to comparatively few complaints filed with 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 with $397 million in assets as well as deposits totaling $358 million. It has a strong Texas Ratio of 11.69%, indicating that Rock Canyon Bank is in good financial well-being 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 think about 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. Rock Canyon Bank's CD rates are fair in comparison to the national average.

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Find a Rock Canyon Bank Near Me

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

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