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The Lyons National Bank Review

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The Lyons National Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Lyons National Bank started in 1865 and its headquarters are located in Lyons, New York. The Lyons National Bank manages $1 billion in assets and $894 million in deposits, classifying it as a medium-size bank. The Lyons National Bank 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 access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 3.8 stars out of 5, The Lyons National Bank should be near the middle of the pack in your search for a bank. The Lyons National Bank offers a varied selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product has a $3.00 monthly fee, which is acceptable in comparison to other U.S. banks. Locating an institution with no-fee checking as well as a high savings APY is your best bet for accruing the most income from your deposits while having easy access to your funds.

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

With a savings rate of 0.30%, The Lyons National Bank ranks poorly compared to other U.S. banks. Its one-year CD has a rate of 1.89% and the five-year CD has a rate of 1.90%, while its highest-yielding money market account earns at a rate of 0.50%. Given The Lyons National Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.

How The Lyons National Bank's Savings Rates Compare

The Lyons National Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

3.5
SmartAsset Average: 4.4

The Lyons National Bank charges its customers high fees as compared against the national average. At $3.00 per month, The Lyons National Bank is less than great for those who want a basic banking experience. The Lyons National Bank does not reimburse out-of-network ATM fees, meaning you'll need to find a The Lyons National Bank ATM or pay the fee.

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 branches in New York. It also offers access to mobile and web apps for simple access and banking on the go. The Lyons National Bank's online and mobile banking services get mediocre feedback from users. The The Lyons National Bank mobile app has an overall rating of 3.0 out of 5 (out of 61 reviews on Apple and Android) compared to the national average of 3.8. The Lyons National Bank's mobile app allows you to control your bank accounts by monitoring current statements, transferring funds as well as reaching customer service. The Lyons National Bank receives an exceptional consumer satisfaction score due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government 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 and handles $1 billion in assets and $894 million in deposits. The Lyons National Bank's Texas Ratio is 2.62%, denoting that the bank is in superb financial condition and far from failure. 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 0.3% APY $500
Checking Account 0.15% APY $300
Certificates of Deposit
  • 12 Month: 1.89% APY
  • 24 Month: 1.99% APY
  • 36 Month: 1.80% APY
  • 48 Month: 1.85% APY
  • 60 Month: 1.90% APY
$1000 for all terms
Money Market Account 0.3% APY $1000

The Lyons National Bank offers several deposit products including 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 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 Lyons National Bank's CD rates are fair as compared against the national average.

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Find a The Lyons National Bank Near Me

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

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