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The Citizens Bank of Clovis Review

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The Citizens Bank of Clovis Savings
0.60% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 1916, The Citizens Bank of Clovis has $352 million in assets as well as deposits totaling $300 million, making it a small bank. The Citizens Bank of Clovis, whose headquarters are in Clovis, New Mexico, lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.3 stars out of 5, The Citizens Bank of Clovis should be solidly in contention for your choice of bank. The Citizens Bank of Clovis has a full selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. The bank's standard checking account has a monthly fee of $2.00, which is not too high compared to the average U.S. bank. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is your best bet for getting the most income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.5
SmartAsset Average: 3.5

With a savings rate of 0.60%, The Citizens Bank of Clovis ranks poorly in comparison to the average U.S. bank. The Citizens Bank of Clovis's one-year CD earns at a rate of 1.20%, while its highest-yielding money market account has an APY of 0.75%. Given its below average savings rate, you should consider looking at the competition to open savings accounts.

How The Citizens Bank of Clovis's Savings Rates Compare

The Citizens Bank of Clovis Savings 0.60 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

The Citizens Bank of Clovis has generally high fees compared to the average U.S. bank. At $2.00 per month, The Citizens Bank of Clovis's checking account is not the best option for those who want an easy banking experience. The Citizens Bank of Clovis unfortunately doesn't reimburse out-of-network ATM fees, which means you'll have to find a The Citizens Bank of Clovis ATM or eat the withdrawal fee.

Monthly Fee $2.00 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

4.3
SmartAsset Average: 3.7

The Citizens Bank of Clovis is a brick-and-mortar bank, with five total bank locations in New Mexico. It also offers access to mobile and web apps for simple access and banking on the go. The Citizens Bank of Clovis's online and mobile banking services receive high marks from customers. Out of 41 ratings across both iOS and Android platforms, the The Citizens Bank of Clovis mobile app rates a 4.7 out of 5 (compared to the national average of 3.8). The Citizens Bank of Clovis's mobile app allows you to control your accounts by monitoring current statements, transferring funds as well as reaching customer service. The Citizens Bank of Clovis gets a superb consumer satisfaction score due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.7/5
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

The Citizens Bank of Clovis is currently a small bank and manages assets totaling $352 million as well as deposits totaling $300 million. Its Texas Ratio is 0.05%, suggesting a low likelihood of failure. Additionally, The Citizens Bank of Clovis 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 Citizens Bank of Clovis to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.6% APY $150
Checking Account 0.35% APY $500
Certificates of Deposit
  • 12 Month: 1.20% APY
  • 24 Month: 1.55% APY
  • 36 Month: 1.80% APY
  • 48 Month: 2.10% APY
$1000 for all terms
Money Market Account 0.65% APY $10000

The Citizens Bank of Clovis offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Citizens Bank of Clovis does not have the best savings rate, which means you should think about 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 Citizens Bank of Clovis's CD rates are fair compared to the average U.S. bank.

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Find a The Citizens Bank of Clovis Near Me

The Citizens Bank of Clovis has five branches in the U.S.

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