Started in 1973, United Mississippi Bank has assets totaling $361 million along with deposits totaling $313 million, making the institution a small bank. United Mississippi Bank, whose headquarters are in Natchez, Mississippi, 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, United Mississippi Bank is a decent choice, but with better options out there, with a score of 3.6 stars out of 5 from the SmartAsset experts. United Mississippi Bank has a varied choice of banking products, including 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 product features a $7.00 monthly fee, which places it at the higher end of monthly fees. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is the best option for returning the most income from your deposits while maintaining easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
United Mississippi Bank features a savings rate of 0.20%, which is poor in comparison to the national average. Its CDs feature a rate of 1.26% and 2.27% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.50%. Given United Mississippi Bank's poor savings rate, you should think about other options to earn more on your deposits.
How United Mississippi Bank's Savings Rates Compare
United Mississippi Bank charges customers high fees compared to the average U.S. bank. At $7.00/month, United Mississippi Bank's checking account is less than great for those who want a hassle-free banking experience. United Mississippi Bank does not reimburse out-of-network ATM charges, which means you'll have to search for a United Mississippi Bank ATM or pay the withdrawal fee.
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 a simple mobile-banking experience. United Mississippi Bank receives great scores from customers for its mobile platform. The United Mississippi Bank mobile app rates a 4.7 out of 5 (out of 16 ratings on Apple and Android) compared to the national average of 3.8. United Mississippi Bank's mobile app allows you to manage your funds by looking at account balances, transferring money and reaching customer service. United Mississippi Bank receives a superb consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
United Mississippi Bank is a small bank and handles $361 million in assets and deposits totaling $313 million. Its Texas Ratio is 10.59%, denoting that United Mississippi Bank is in fine financial well-being and far from 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
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.Back to Overview
Compare United Mississippi Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.2% APY||$300|
|Checking Account||0.15% APY||$1|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.5% APY||$1000|
United Mississippi Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. United Mississippi Bank does not have the best savings rate, which means you should think about 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. United Mississippi Bank's CD rates are fair compared to the national average.Back to Overview
Find a United Mississippi Bank Near Me
United Mississippi Bank has 12 locations across the U.S.Back to Overview