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The Adirondack Trust Company Review

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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 first started operating in 1901 with its headquarters in Saratoga Springs, New York. It 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 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. On the whole, The Adirondack Trust Company is a good bank that gets the job done, with a rating of 4.1 out of 5 stars from the SmartAsset team. The Adirondack Trust Company offers a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. The Adirondack Trust Company has a fair savings rate compared to the average savings account. The bank's standard checking account has a $3.00 monthly fee, which is acceptable as compared against the national average. Institutions that offer no-fee checking as well as a high interest rate savings account are the best bet for returning the highest income on your deposits alongside convenient access to your funds.

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 in comparison to the average U.S. bank. Its one-year CD earns at a rate of 0.20%, while its highest-yielding money market account earns at an APY of 0.10%. Given The Adirondack Trust Company's below average savings rate, you should consider taking a look at other banks for savings accounts.

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 customers low fees in comparison to the average U.S. bank. At $3.00 per month, The Adirondack Trust Company's checking account is less than the best product for people who want an easy checking account. For those who often withdraw money from the ATM, The Adirondack Trust Company is good because it has an out-of-network ATM fee of $1.00, which is good compared to the national average. Also, at $30.00, The Adirondack Trust Company has a noticeably lower overdraft fee compared to the national average overdraft fee. The Adirondack Trust Company unfortunately does not reimburse out-of-network ATM charges, meaning you will have to find a The Adirondack Trust Company ATM or eat 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 bank locations in New York. With mobile and web apps, The Adirondack Trust Company makes mobile banking straightforward, even on the go. The Adirondack Trust Company's online and mobile banking platforms get fairly high ratings from customers. The The Adirondack Trust Company mobile app scored a 4.2 out of 5 (with 25 ratings on iOS and Android) compared to the national average of 3.8. The Adirondack Trust Company's mobile app lets you control your funds by monitoring current statements, transferring funds as well as accessing customer service. The Adirondack Trust Company receives a superb consumer satisfaction score due to comparatively few consumer complaints filed 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 a medium-size bank owning assets totaling $1 billion as well as $1 billion in deposits. The Adirondack Trust Company's Texas Ratio is 2.74%, signifying a negligible 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 Account 0.1% APY $2500

The Adirondack Trust Company 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. The Adirondack Trust Company does not have the best savings rate, which means you should consider taking a look 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. The Adirondack Trust Company's CD rates are fair in comparison to the national average.

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Find a The Adirondack Trust Company Near Me

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

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