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Steuben Trust Company Review

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Steuben Trust Company Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Established in 1902, Steuben Trust Company Bank has $527 million in assets and deposits totaling $429 million, ranking it as a medium-size bank. Steuben Trust Company, whose headquarters are in Hornell, New York, lacks premium access to support representatives, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Overall, Steuben Trust Company is an acceptable bank choice, but may leave you wanting more, with a rating of 3.6 out of 5 stars from the SmartAsset team. Steuben Trust Company provides customers with a full choice of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Steuben Trust Company has a fair savings rate; other popular banks have higher rates. The bank's standard checking product features a $3.00 monthly fee, which is acceptable in comparison to the national average. Banks that offer no-fee checking as well as a high interest rate savings account are the best option for returning the most income on your deposits while maintaining convenient 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 0.05%, Steuben Trust Company ranks poorly in comparison to other U.S. banks. Its one-year CD has a rate of 0.90%, while its highest-yielding money market account earns at a rate of 0.10%. Given Steuben Trust Company's noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How Steuben Trust Company's Savings Rates Compare

Steuben Trust Company Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Steuben Trust Company Bank generally has high fees in comparison to the average U.S. bank. At $3.00 per month, Steuben Trust Company is not ideal for those who want a simple checking account. Steuben Trust Company unfortunately does not reimburse out-of-network ATM charges, which means you'll need to search for a Steuben Trust Company ATM or pay the cost of withdrawal.

Monthly Fee $3.00 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

SmartAsset Average: 3.7

Steuben Trust Company Bank is a brick-and-mortar bank, with 14 total bank locations in New York. It also offers access to mobile and web apps for easy access and banking on the go. Steuben Trust Company's online and mobile banking services get mediocre feedback from users. The Steuben Trust Company mobile app has an overall rating of 2.0 out of 5 (with 23 ratings on iOS and Android) compared to the national average of 3.8. You can use Steuben Trust Company's mobile app to control your accounts by checking current statements, sending and receiving funds and reaching support representatives. Steuben Trust Company gets a superb consumer satisfaction score based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 2.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Steuben Trust Company is a medium-size bank and owns $527 million in assets as well as deposits totaling $429 million. Steuben Trust Company's Texas Ratio is 1.82%, denoting that the bank is in outstanding financial health and far from failure. Additionally, Steuben Trust Company 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 Steuben Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $200
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.90% APY
  • 24 Month: 0.95% APY
  • 36 Month: 1.01% APY
$1000 for all terms
Money Market Account 0.1% APY $1

Steuben Trust Company Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Steuben Trust Company does not have the best savings rate, which means you should think about 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. Steuben Trust Company's CD rates are fair compared to the national average.

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Find a Steuben Trust Company Near Me

Steuben Trust Company has 14 locations across the U.S.

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