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The Croghan Colonial Bank 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 Croghan Colonial Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

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 Rating

3.9/5
National Average: 4.1

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

Rates

3.5
SmartAsset 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

The Croghan Colonial Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

3.0
SmartAsset 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.

Monthly Fee $4.00 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

3.9
SmartAsset 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.

Overall Mobile Rating 3.9/5
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 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.

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Compare The Croghan Colonial Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.15% APY $1
Certificates of Deposit
  • 12 Month: 1.08% APY
  • 24 Month: 2.03% APY
  • 36 Month: 2.42% APY
  • 48 Month: 2.54% APY
  • 60 Month: 2.73% APY
$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.

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Find a The Croghan Colonial Bank Near Me

The Croghan Colonial Bank has 17 branches in the U.S.

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