Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

Think Mutual Bank Review

Your Details Done
by Updated
Think Mutual Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Think Mutual Bank was founded in 2007 and is headquartered in Rochester, Minnesota. Think Mutual Bank handles assets of $2 billion as well as deposits totaling $1 billion, ranking it as a large bank. Think Mutual Bank lacks premium access to support representatives, with no options for live chat or all-day service. 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. SmartAsset has rated the bank 4.3 out of 5 stars, indicating that Think Mutual Bank is a solid contender in your bank search. Think Mutual Bank offers a complete array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Think Mutual Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, the bank's most basic checking does not have a monthly charge. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is your best bet for accruing the most income on your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.20%, Think Mutual Bank ranks poorly as compared against the national average. Its CDs feature a rate of 1.15% and 2.10% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.40%. Given Think Mutual Bank's below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Think Mutual Bank's Savings Rates Compare

Think Mutual Bank Savings 0.20 National Average 0.26 Compare Offers
Back to Overview


SmartAsset Average: 4.4

Think Mutual Bank charges customers extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who frequent the ATM, it is good because it charges an out-of-network ATM fee of $1.00, which is good in comparison to other U.S. banks. Additionally, at $22.00, Think Mutual Bank has a markedly lower overdraft fee compared to the average U.S. overdraft fee. Think Mutual Bank unfortunately doesn't refund out-of-network ATM fees, which means you will need to search for a Think Mutual Bank ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $1.00 National Average: $1.20
Overdraft Fee $22.00 National Average: $35.00
Back to Overview

Service Quality

SmartAsset Average: 3.7

Think Mutual Bank is a brick-and-mortar bank, with 12 total branches in Minnesota. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. CT; Saturday, and 9:00 a.m. to 12:30 p.m. CT. Think Mutual Bank gets average reviews from customers for its mobile banking services. With 210 ratings on Apple and Android platforms, the Think Mutual Bank mobile app rates a 3.9 out of 5 (compared to the national average of 3.8). Think Mutual Bank's mobile app lets you control your bank accounts by monitoring current statements, transferring funds and accessing support representatives. Think Mutual Bank gets an outstanding consumer satisfaction rating based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

SmartAsset Average: 4.8

Think Mutual Bank ranks as a large bank with $2 billion in assets and deposits totaling $1 billion. Its Texas Ratio is 0.80%, denoting a low chance of failure. Additionally, Think Mutual 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 Think Mutual Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $2500
Checking Account 0.1% APY $1500
Certificates of Deposit
  • 12 Month: 1.15% APY
  • 24 Month: 1.35% APY
  • 36 Month: 1.60% APY
  • 48 Month: 1.85% APY
  • 60 Month: 2.10% APY
$250 for all terms
Money Market Account 0.35% APY $5000

Think Mutual 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. Think Mutual 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. Think Mutual Bank's CD rates are fair in comparison to the average U.S. bank.

Back to Overview

Find a Think Mutual Bank Near Me

Think Mutual Bank has 12 branches in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure