Loading
Tap on the profile icon to edit
your financial details.

Timberland Bank Review

Your Details Done
by Updated
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
Timberland Bank Savings
0.01% APY

Overview

Our Rating: 4.3/5 How we calculated this rating

Timberland Bank was founded in 1915 and has its headquarters in Hoquiam, Washington. Timberland Bank handles assets totaling $992 million and $877 million in deposits, classifying it as a medium-size bank. Timberland Bank does not have the access to customer service other banks offer. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile presence. On the whole, Timberland Bank is a great bank that you should seriously consider at a rating of 4.3 stars out of 5 from the SmartAsset team. 

Timberland Bank provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Timberland Bank has a fair savings rate, which means other popular banks have higher rates. A great, everyday account, the bank's standard checking does not carry a monthly fee. Using the same bank for checking and savings is ideal for getting the largest interest rates on your money while retaining access to your money without getting penalized for withdrawing.

Service Quality

Timberland Bank is a brick-and-mortar bank, with 22 total branches in Washington. With mobile and web apps, Timberland Bank makes account access easy, even on the go.  

Timberland Bank gets fairly decent ratings from users for its mobile app: with 250 customer reviews across both Apple and Android platforms, the Timberland Bank mobile app is scored at 3.9 out of 5 (compared to the national average of 3.8). Timberland Bank's mobile app lets you control your accounts by checking current statements, transferring money as well as reaching support representatives. Timberland Bank gets a superb consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.01% APY $500 Compare Offers
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.70% APY
  • 36 Month: 0.85% APY
  • 48 Month: 1.11% APY
  • 60 Month: 2.17% APY
  • $10,000
  • $2,000
  • $5,000
  • $2,500
  • $2,500
Compare Offers
Money Market Accounts 10K tier: 0.25% APY $2,500 Compare Offers
Checking Accounts 0.01% APY $1 Compare Offers

Timberland Bank has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Timberland Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Timberland Bank's CD rates are competitive in comparison to other U.S. banks.

Rates

Timberland Bank has a savings rate of 0.01%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 0.25% and the five-year CD earns at a rate of 2.17%, while its highest-yielding money market account earns at an APY of 0.10%. It has a fair savings rate, which means other popular banks have higher rates. Think about other options to earn more on your deposits.

Compare Timberland Bank to Other Competitive Offers

Fees

Timberland Bank typically has extremely low fees as compared against the national average. Timberland Bank's checking account has no monthly fee, making it excellent for anyone looking for a simple account. 

Financial Health

Timberland Bank is currently a medium-size bank with $992 million in assets as well as deposits totaling $877 million. Its Texas Ratio is 4.13%, indicating that Timberland Bank is in terrific financial shape and very unlikely to fail. Additionally, Timberland Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Timberland Bank Near Me

Timberland Bank has 22 branches in the U.S.

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