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Security Financial Bank Review

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Security Financial Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Security Financial Bank was founded in 1934 with headquarters in Durand, Wisconsin. It owns assets of $420 million along with $320 million in deposits, ranking it as a medium-size bank. Security Financial Bank lacks premium access to support representatives, 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 apps. Overall, Security Financial Bank is a good bank that gets the job done, with a rating of 4.0 out of 5 stars from our team. Security Financial Bank provides customers with a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. Using a bank with free checking as well as a high interest rate savings account is your best option for returning the most income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

Security Financial Bank features a savings rate of 0.15%, which is poor in comparison to the average U.S. bank. Security Financial Bank's one-year CD earns at a rate of 0.65% and the five-year CD has a rate of 2.00%, while its highest-yielding money market account has a rate of 0.25%. Given its poor savings rate, you should think about other options to earn more on your deposits.

How Security Financial Bank's Savings Rates Compare

Security Financial Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Security Financial Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

3.7
SmartAsset Average: 3.7

Security Financial Bank is a brick-and-mortar bank, with four total branches in Wisconsin. It also offers access to mobile and web apps for an easy mobile-banking experience. Security Financial Bank's online and mobile banking services receive fair scores from users. Out of 6 customer reviews across both Apple and Android platforms, the Security Financial Bank mobile app rates a 3.5 out of 5 (compared to the national average of 3.8). You can use Security Financial Bank's mobile app to manage your funds by looking at current statements, sending and receiving money as well as accessing support representatives. Security Financial Bank gets an exceptional consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.5/5
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

Security Financial Bank ranks as a medium-size bank owning assets totaling $420 million and deposits totaling $320 million. It has an excellent Texas Ratio of 1.24%, signifying a minute chance of failure. Additionally, Security Financial 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 Security Financial Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $100
Certificates of Deposit
  • 12 Month: 0.65% APY
  • 24 Month: 0.50% APY
  • 36 Month: 1.00% APY
  • 60 Month: 2.00% APY
$10000 for all terms
Money Market Account 0.2% APY $10000

Security Financial Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Security Financial 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. Security Financial Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Security Financial Bank Near Me

Security Financial Bank has four physical branches in the U.S.

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