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The Adirondack Trust Company Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
The Adirondack Trust Company Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Adirondack Trust Company Bank was founded in 1901 with its headquarters in Saratoga Springs, New York. The Adirondack Trust Company owns assets of $1 billion and $1 billion in deposits, classifying it as a medium-size bank. The Adirondack Trust Company lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.1 out of 5 stars, The Adirondack Trust Company should be solidly in contention for your choice of bank. The Adirondack Trust Company offers a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Adirondack Trust Company has a fair savings rate; other popular banks have higher rates. The bank's standard checking product carries a monthly fee of $3.00, which is not too high in comparison to the average U.S. bank. Finding an institution with free checking as well as a high savings APY is the best option for gaining the highest income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, The Adirondack Trust Company ranks poorly as compared against the national average. Its one-year CD has a rate of 0.20%, while its highest-yielding money market account has a rate of 0.10%. Given its poor savings rate, you should think about opting for higher earning savings accounts with other banks.

How The Adirondack Trust Company's Savings Rates Compare

The Adirondack Trust Company Savings 0.10 National Average 0.26 Compare Offers
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Fees

4.3
SmartAsset Average: 4.4

The Adirondack Trust Company charges its customers low fees compared to the national average. The Adirondack Trust Company's checking account has a monthly fee of $3.00, which makes it slightly worse for anyone looking for a simple account. For those who often withdraw money from the ATM, it is good because it has an out-of-network ATM fee of $1.00, which is solid as compared against the national average. Additionally, at $30.00, The Adirondack Trust Company's overdraft fee is noticeably lower than that of other U.S. banks. The Adirondack Trust Company unfortunately does not refund out-of-network ATM charges, meaning you will need to find a The Adirondack Trust Company ATM or pay the ATM charge.

Monthly Fee $3.00 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

The Adirondack Trust Company Bank is a brick-and-mortar bank, with 13 total branches in New York. With mobile and web apps, The Adirondack Trust Company makes account access straightforward, even on the go. The Adirondack Trust Company's online and mobile banking platforms receive relatively satisfactory feedback from customers. Out of 25 customer reviews across Apple and Android platforms, the The Adirondack Trust Company mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). The Adirondack Trust Company's mobile app allows you to control your funds by monitoring current statements, transferring money as well as accessing customer service. The Adirondack Trust Company receives an excellent consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The Adirondack Trust Company is currently a medium-size bank owning $1 billion in assets and $1 billion in deposits. Its Texas Ratio is 2.74%, indicating a low probability of failure. Additionally, The Adirondack 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 The Adirondack Trust Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $50
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.35% APY
  • 36 Month: 0.50% APY
$500 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

The Adirondack 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. The Adirondack Trust Company 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. The Adirondack Trust Company's CD rates are fair in comparison to other U.S. banks.

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Find a The Adirondack Trust Company Near Me

The Adirondack Trust Company has 13 physical locations in the U.S.

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