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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 started in 1935 and is headquartered in Medford, Wisconsin. Time Federal Savings Bank has $602 million in assets along with deposits totaling $470 million, ranking it as 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 access to service representatives at a physical location, in addition to its online and mobile offerings. Coming in at a commendable 4.3 stars out of 5, Time Federal Savings Bank proves it is a great bank that you should seriously consider. Time Federal Savings Bank provides customers with an array banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Time Federal Savings Bank's standard checking does not have a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is your best bet for accruing the most income on your deposits while having easy access to your money.

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

With a savings rate of 0.45%, Time Federal Savings Bank ranks poorly in comparison to the average U.S. bank. Time Federal Savings Bank's one-year CD has a rate of 1.91%. Given Time Federal Savings Bank's below average savings rate, you should consider taking a look at other banks for savings accounts.

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

Time Federal Savings Bank generally has extremely low fees compared to the average U.S. bank. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. For those who frequent the ATM, Time Federal Savings Bank is perfect because it has no out-of-network ATM fees. Time Federal Savings Bank unfortunately does not refund out-of-network ATM fees, which means you'll have to find a Time Federal Savings Bank ATM or accept the cost of withdrawal.

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 bank locations in Wisconsin. With mobile and web apps, Time Federal Savings Bank makes account access easy, even on the go. You can access Time Federal Savings Bank's app to manage your finances by looking at monthly statements, transferring money and reaching customer service. Time Federal Savings Bank gets a superb consumer satisfaction rating based on relatively few consumer complaints filed with 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 currently a medium-size bank owning assets totaling $602 million and $470 million in deposits. Its Texas Ratio is 0.86%, denoting a negligible probability of 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 has several deposit products including 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 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. Time Federal Savings Bank's CD rates are fair in comparison to the national average.

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Find a Time Federal Savings Bank Near Me

Time Federal Savings Bank has six physical locations in the U.S.

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