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Transportation Alliance Bank Review

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Transportation Alliance Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Transportation Alliance Bank first started operating in 1998 with headquarters located in Ogden, Utah. It owns assets of $749 million and deposits totaling $576 million, which makes it a medium-size bank. Transportation Alliance 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 offerings. On the whole, Transportation Alliance Bank is a top-tier bank that warrants a serious look, with a score of 4.5 stars out of 5 from our experts. Transportation Alliance Bank offers a complete selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Transportation Alliance Bank has a fair savings rate; you can find higher rates with other banks. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same bank is the best bet for returning the most income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.5/5
National Average: 4.1

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

Rates

4.3
SmartAsset Average: 3.5

With a savings rate of 0.25%, Transportation Alliance Bank ranks poorly as compared against the national average. Its CD rates are 2.58% and 2.94% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.25%. Given Transportation Alliance Bank's below average savings rate, you should think about taking a look at other banks for savings accounts.

How Transportation Alliance Bank's Savings Rates Compare

Transportation Alliance Bank Savings 0.25 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Transportation Alliance Bank charges customers extremely low fees in comparison to the national average. Additionally, Transportation Alliance Bank has an overdraft fee of $30.00, which is considerably lower than the national average. Transportation Alliance Bank does not refund out-of-network ATM fees, which means you'll need to find a Transportation Alliance Bank ATM or accept the cost of withdrawal.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

4.1
SmartAsset Average: 3.7

Transportation Alliance Bank is a brick-and-mortar bank, with one total branches in Utah. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Transportation Alliance Bank's online and mobile banking services receive fairly good scores from customers. Out of 140 ratings on both iOS and Android platforms, the Transportation Alliance Bank mobile app is scored at 4.2 out of 5 (compared to the national average of 3.8). Transportation Alliance Bank's mobile app allows you to control your funds by monitoring current statements, transferring money as well as reaching support representatives. Transportation Alliance Bank gets an exceptional consumer satisfaction rating based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Transportation Alliance Bank is currently a medium-size bank with assets totaling $749 million as well as $576 million in deposits. Transportation Alliance Bank's Texas Ratio is 8.13%, signifying a tiny opportunity of failure. Additionally, Transportation Alliance Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

8.13%
High Risk 75% 50% 20% 10% Low Risk

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 Transportation Alliance Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $1
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 2.58% APY
  • 24 Month: 2.79% APY
  • 36 Month: 2.84% APY
  • 48 Month: 2.89% APY
  • 60 Month: 2.94% APY
$1000 for all terms
Money Market Account 0.25% APY $1

Transportation Alliance 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. Transportation Alliance Bank does not have the best savings rate, which means you should consider other options 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. Transportation Alliance Bank's CD rates are fair in comparison to the national average.

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Find a Transportation Alliance Bank Near Me

Transportation Alliance Bank has one physical locations across the U.S.

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