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United Mississippi Bank Review

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United Mississippi Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1973, United Mississippi Bank has $361 million in assets as well as $313 million in deposits, making the institution a small bank. United Mississippi Bank, whose headquarters are in Natchez, Mississippi, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. On the whole, United Mississippi Bank is an average bank that leaves room for improvement, with a rating of 3.6 out of 5 stars from the SmartAsset team. United Mississippi Bank provides customers with a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking account carries a $7.00 monthly fee, making it a rather costly bank for checking. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is your best option for getting the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

3.6/5
National Average: 4.1

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

Rates

3.4
SmartAsset Average: 3.5

United Mississippi Bank features a savings rate of 0.20%, which is poor in comparison to the average U.S. bank. United Mississippi Bank's one-year and five-year term lengths CDs earn at a rate of 1.51% and 2.52%, respectively, while its highest-yielding money market account has a rate of 0.50%. Given United Mississippi Bank's below average savings rate, you should consider other options to earn more on your deposits.

How United Mississippi Bank's Savings Rates Compare

United Mississippi Bank Savings 0.20 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

On average, United Mississippi Bank charges its customers high fees compared to other U.S. banks. At $7.00/month, United Mississippi Bank's checking account is less than ideal for people who want a hassle-free checking account. United Mississippi Bank unfortunately doesn't refund out-of-network ATM charges, meaning you will be required to find a United Mississippi Bank ATM or accept the ATM charge.

Monthly Fee $7.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

4.3
SmartAsset Average: 3.7

United Mississippi Bank is a brick-and-mortar bank, with 12 total bank locations in Louisiana and Mississippi. It also offers access to mobile and web apps for simple access and banking on the go. United Mississippi Bank's online and mobile banking services receive high praise from users. Out of 16 ratings across Apple and Android platforms, the United Mississippi Bank mobile app rates a 4.7 out of 5 (compared to the national average of 3.8). You can access United Mississippi Bank's app to control your finances by monitoring current statements, transferring money and reaching customer service. United Mississippi Bank receives an outstanding consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.5
SmartAsset Average: 4.8

United Mississippi Bank is currently a small bank with $361 million in assets and deposits totaling $313 million. United Mississippi Bank has a strong Texas Ratio of 10.59%, suggesting a small possibility of failure. Additionally, United Mississippi Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

10.59%
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 United Mississippi Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $300
Checking Account 0.15% APY $1
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 2.02% APY
  • 36 Month: 2.27% APY
  • 48 Month: 2.52% APY
  • 60 Month: 2.52% APY
$500 for all terms
Money Market Account 0.5% APY $1000

United Mississippi Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. United Mississippi 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. United Mississippi Bank's CD rates are fair as compared against the national average.

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Find a United Mississippi Bank Near Me

United Mississippi Bank has 12 branches across the U.S.

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