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Santa Cruz County Bank Review

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Santa Cruz County Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2004, Santa Cruz County Bank has $630 million in assets and $563 million in deposits, classifying it as a medium-size bank. Santa Cruz County Bank, whose headquarters are in Santa Cruz, California, 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 in-person service, in addition to its online and mobile offerings. Overall, Santa Cruz County Bank is a good bank that gets the job done, with a rating of 3.9 stars out of 5 from our experts. Santa Cruz County Bank provides customers with numerous banking products, including savings accounts, checking accounts, money market accounts, IRAs and credit cards. Santa Cruz County Bank has a fair savings rate compared to the average savings account. The bank's standard checking product features a monthly fee of $5.00, although banks sometimes have requirements that allow you to waive the fee. Institutions that offer free checking, in addition to a high interest rate savings account are your best option for gaining the highest income from your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, Santa Cruz County Bank ranks poorly compared to other U.S. banks. Its CD rates are 0.25% and 0.85% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given Santa Cruz County Bank's poor savings rate, you should think about looking elsewhere to open savings accounts.

How Santa Cruz County Bank's Savings Rates Compare

Santa Cruz County Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

3.4
SmartAsset Average: 4.4

Santa Cruz County Bank generally has high fees compared to the average U.S. bank. At $5.00/month, Santa Cruz County Bank is not great for people who want a simple banking experience. Santa Cruz County Bank reimburses any incurred out-of-network ATM charges, which gives convenient access to cash at any time.

Monthly Fee $5.00 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

4.2
SmartAsset Average: 3.7

Santa Cruz County Bank is a brick-and-mortar bank, with five total branches in California. With mobile and web apps, Santa Cruz County Bank makes account access convenient, even on the go. Santa Cruz County Bank's online and mobile banking platforms get high marks from users. With 8 ratings on Apple and Android platforms, the Santa Cruz County Bank mobile app has an overall rating of 4.5 out of 5 (compared to the national average of 3.8). You can access Santa Cruz County Bank's app to control your funds by looking at monthly statements, transferring funds as well as accessing support representatives. Santa Cruz County Bank receives an exceptional consumer satisfaction rating based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

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

5.0
SmartAsset Average: 4.8

Santa Cruz County Bank is a medium-size bank and manages assets totaling $630 million as well as deposits totaling $563 million. Santa Cruz County Bank's Texas Ratio is 0.00%, denoting a negligible possibility of failure. Additionally, Santa Cruz County 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 Santa Cruz County Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 1.75% APY
  • 36 Month: 0.40% APY
  • 48 Month: 0.65% APY
  • 60 Month: 0.85% APY
$2500 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

Santa Cruz County Bank has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. Santa Cruz County 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. Santa Cruz County Bank's CD rates are fair as compared against the national average.

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Find a Santa Cruz County Bank Near Me

Santa Cruz County Bank has five locations in the U.S.

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