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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

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.

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 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 Savings 0.20 National Average 0.26 Compare Offers
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Fees

2.0
SmartAsset Average: 4.4

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.

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 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.

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 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

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: 1.26% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.76% APY
  • 48 Month: 2.02% APY
  • 60 Month: 2.27% APY
$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.

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Find a United Mississippi Bank Near Me

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

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