Urban Partnership Bank was founded in 2010 with its headquarters in Chicago, Illinois. Urban Partnership Bank has $472 million in assets as well as $425 million in deposits, classifying it as a medium-size bank. Urban Partnership Bank lacks premium access to support representatives, 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. Coming in at a poor 2.5 out of 5 stars, Urban Partnership Bank is a fair bank that does not compare with some of the other banks. Urban Partnership Bank offers the complete selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; you can find higher rates with other banks. Finding a bank with no-fee checking, in addition to a high interest rate savings account is the best option for gaining the highest income on your deposits while maintaining convenient access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Urban Partnership Bank has a savings rate of 0.10%, which is poor in comparison to other U.S. banks. Its one-year CD has a rate of 0.25% and the five-year CD earns at a rate of 1.26%, while its highest-yielding money market account has a rate of 0.20%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.
How Urban Partnership Bank's Savings Rates Compare
There is insufficient data on Urban Partnership Bank's fees to provide a full SmartAsset rating.
Urban Partnership Bank is a brick-and-mortar bank, with eight total branches in Illinois and Michigan. It also offers access to mobile and web apps for easy access and banking on the go. It does not provide access to all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 5:00 p.m. CT; Saturday, and 8:00 a.m. to 1:00 p.m. CT. Urban Partnership Bank's online and mobile banking platforms get mediocre marks from users. With 5 customer reviews across Apple and Android platforms, the Urban Partnership Bank mobile app rates a 1.2 out of 5 (compared to the national average of 3.8). You can access Urban Partnership Bank's app to manage your finances by checking monthly statements, sending and receiving money and accessing customer service. Urban Partnership Bank gets an excellent consumer satisfaction rating due to comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Urban Partnership Bank ranks as a medium-size bank owning $472 million in assets and deposits totaling $425 million. Urban Partnership Bank has a fair Texas Ratio of 54.50%, denoting a moderate chance of failure. Additionally, Urban Partnership 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 Urban Partnership Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$50|
|Checking Account||0.01% APY||$2500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Account||0.2% APY||$10000|
Urban Partnership 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. Urban Partnership 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. Urban Partnership Bank's CD rates are fair in comparison to the national average.Back to Overview
Find a Urban Partnership Bank Near Me
Urban Partnership Bank has eight locations across the U.S.Back to Overview