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The Lyons National 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 Lyons National Bank Savings
0.40% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Lyons National Bank first started operating in 1865 and is headquartered in Lyons, New York. It manages $1 billion in assets along with $894 million in deposits, making it a medium-size bank. The Lyons National Bank 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 in-person service, in addition to its online and mobile offerings. With an average 3.8 out of 5 stars, The Lyons National Bank proves it is an acceptable bank choice, but may leave you wanting more. The Lyons National Bank has a complete array 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; other popular banks have higher rates. The bank's standard checking account features a monthly fee of $3.00, which is not too high in comparison to the average U.S. bank. Locating an institution with free checking, in addition to a high savings APY is the best bet for getting the highest income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

The Lyons National Bank has a savings rate of 0.40%, which is fair as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 2.09% and 1.90%, respectively, while its highest-yielding money market account earns at an APY of 0.60%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

How The Lyons National Bank's Savings Rates Compare

The Lyons National Bank Savings 0.40 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

The Lyons National Bank has typically high fees in comparison to other U.S. banks. The Lyons National Bank's checking account has a monthly fee of $3.00, rating it slightly worse for anyone looking for a hassle-free account. The Lyons National Bank does not reimburse out-of-network ATM fees, which means you'll have to search for a The Lyons National Bank ATM or pay the cost of withdrawal.

Monthly Fee $3.00 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

3.4
SmartAsset Average: 3.7

The Lyons National Bank is a brick-and-mortar bank, with 15 total bank locations in New York. It also offers access to mobile and web apps for a simple mobile-banking experience. The Lyons National Bank gets poor reviews from customers for its mobile app. The The Lyons National Bank mobile app has been given a 3.0 out of 5 (with 61 ratings on Apple and Android) compared to the national average of 3.8. The Lyons National Bank's mobile app allows you to manage your funds by monitoring account balances, transferring money as well as reaching support representatives. The Lyons National Bank gets an excellent consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.0/5
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 Lyons National Bank is a medium-size bank with assets totaling $1 billion and $894 million in deposits. The Lyons National Bank's Texas Ratio is 2.62%, signifying that The Lyons National Bank is in outstanding financial well-being and improbable to fail. Additionally, The Lyons National 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 Lyons National Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.4% APY $500
Checking Account 0.15% APY $300
Certificates of Deposit
  • 12 Month: 2.09% APY
  • 24 Month: 2.23% APY
  • 36 Month: 1.80% APY
  • 48 Month: 1.85% APY
  • 60 Month: 1.90% APY
$500 for all terms
Money Market Accounts 0.4% APY 0.6% APY $10000 $15000

The Lyons National 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 Lyons National Bank does not have the best savings rate, which means you should think about 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 Lyons National Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a The Lyons National Bank Near Me

The Lyons National Bank has 15 physical locations in the U.S.

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