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Time Federal Savings Bank Review

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Time Federal Savings Bank Savings
0.45% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Time Federal Savings Bank first started operating in 1935 and is headquartered in Medford, Wisconsin. It handles $602 million in assets as well as deposits totaling $470 million, which makes it a medium-size bank. Time Federal Savings Bank lacks premium access to customer service, 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 offerings. With a score of 4.3 out of 5 stars, Time Federal Savings Bank should be solidly in contention for your choice of bank. Time Federal Savings Bank has a selection of banking products, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Time Federal Savings Bank offers an option without a maintenance or monthly fee. Locating a bank with no-fee checking, in addition to a high savings APY is your best option for getting the highest income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

4.7
SmartAsset Average: 3.5

Time Federal Savings Bank features a savings rate of 0.45%, which is fair in comparison to other U.S. banks. Time Federal Savings Bank's one-year CD has a rate of 1.91%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Time Federal Savings Bank's Savings Rates Compare

Time Federal Savings Bank Savings 0.45 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Time Federal Savings Bank charges its customers extremely low fees compared to the average U.S. bank. With no monthly fee, Time Federal Savings Bank is perfect for those who want a basic banking experience. For those who will need cash in a pinch, Time Federal Savings Bank is perfect because it charges no out-of-network ATM fees. Time Federal Savings Bank unfortunately does not reimburse out-of-network ATM fees, meaning you will need to find a Time Federal Savings Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

2.5
SmartAsset Average: 3.7

Time Federal Savings Bank is a brick-and-mortar bank, with six total branches in Wisconsin. It also offers access to mobile and web apps for a straightforward mobile-banking experience. You can use Time Federal Savings Bank's mobile app to manage your bank accounts by monitoring monthly statements, sending and receiving funds as well as reaching customer service. Time Federal Savings Bank gets a superb consumer satisfaction score based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating NR
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

Time Federal Savings Bank is a medium-size bank and owns $602 million in assets as well as deposits totaling $470 million. Its Texas Ratio is 0.86%, signifying that the bank is in superb financial shape and far from failure. Additionally, Time Federal Savings 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 Time Federal Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.45% APY $2500
Checking Account 0.15% APY $1
Certificates of Deposit
  • 12 Month: 1.91% APY
  • 24 Month: 2.17% APY
  • 36 Month: 2.37% APY
  • 48 Month: 2.52% APY
$10000 for all terms

Time Federal Savings Bank offers several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Time Federal Savings Bank does not have the best savings rate, which means you should consider taking a look 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. Time Federal Savings Bank's CD rates are fair as compared against the national average.

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Find a Time Federal Savings Bank Near Me

Time Federal Savings Bank has six branches in the U.S.

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