Established in 1888, The Croghan Colonial Bank has $840 million in assets along with $678 million in deposits, classifying it as a medium-size bank. The Croghan Colonial Bank, whose headquarters are in Fremont, Ohio, 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 apps. At a SmartAsset rating of 3.9 out of 5 stars, The Croghan Colonial Bank should be near the middle of the pack in your search for a bank. The Croghan Colonial Bank offers the complete package of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. The bank's standard checking product has a monthly fee of $4.00, making it a rather pricey bank for checking. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best bet for gaining the most income from your deposits while having easy access to your money.
How We Rated It
SmartAsset's Overall RatingNational Average: 4.1
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
RatesSmartAsset Average: 3.5
With a savings rate of 0.15%, The Croghan Colonial Bank ranks poorly as compared against the national average. Its CDs feature a rate of 1.08% and 2.73% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.80%. Given The Croghan Colonial Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.
How The Croghan Colonial Bank's Savings Rates Compare
FeesSmartAsset Average: 4.4
The Croghan Colonial Bank generally has high fees compared to other U.S. banks. The Croghan Colonial Bank's checking account has a monthly fee of $4.00, which makes it fair for anyone looking for a simple account. The Croghan Colonial Bank unfortunately doesn't refund out-of-network ATM charges, which means you'll be required to find a The Croghan Colonial Bank ATM or accept the withdrawal fee.
Service QualitySmartAsset Average: 3.7
The Croghan Colonial Bank is a brick-and-mortar bank, with 17 total bank locations in Ohio. It also offers access to mobile and web apps for straightforward access and banking on the go. The Croghan Colonial Bank's online and mobile banking services receive moderate scores from users. The The Croghan Colonial Bank mobile app has an overall rating of 3.9 out of 5 (with 19 reviews on Apple and Android) compared to the national average of 3.8. You can access The Croghan Colonial Bank's mobile app to manage your bank accounts by checking monthly statements, transferring money and accessing customer service. The Croghan Colonial Bank gets an excellent consumer satisfaction rating based on comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Financial HealthSmartAsset Average: 4.8
The Croghan Colonial Bank is a medium-size bank with assets totaling $840 million and deposits totaling $678 million. The Croghan Colonial Bank's Texas Ratio is 0.91%, denoting that The Croghan Colonial Bank is in superb financial condition and unlikely to fail. Additionally, The Croghan Colonial 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.Back to Overview
Compare The Croghan Colonial Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.15% APY||$1|
|Checking Account||0.15% APY||$1|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.8% APY 0.8% APY||$10000 $15000|
The Croghan Colonial Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. The Croghan Colonial Bank does not have the best savings rate, which means you should consider 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. The Croghan Colonial Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a The Croghan Colonial Bank Near Me
The Croghan Colonial Bank has 17 branches in the U.S.Back to Overview