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Urban Partnership Bank Review

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Urban Partnership Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Urban Partnership Bank started in 2010 with its headquarters in Chicago, Illinois. Urban Partnership Bank handles assets of $472 million and deposits totaling $425 million, which makes it 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 conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a poor 2.5 out of 5 stars, Urban Partnership Bank is a lower-rated bank that might not serve all your needs. Urban Partnership Bank provides customers with a complete array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. It has a fair savings rate; other popular banks have higher rates. Banks that offer no-fee checking, in addition to a high savings APY are the best bet for getting the highest income on your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

2.5/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.10%, Urban Partnership Bank ranks poorly compared to other U.S. banks. Its one-year CD earns at a rate of 0.25% and the five-year CD has a rate of 1.26%, while its highest-yielding money market account earns at an APY of 0.20%. Given Urban Partnership Bank's poor savings rate, you should consider looking elsewhere to open savings accounts.

How Urban Partnership Bank's Savings Rates Compare

Urban Partnership Bank Savings 0.10 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Urban Partnership Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

2.4
SmartAsset Average: 3.7

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 simple 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 services receive mediocre marks from users. The Urban Partnership Bank mobile app rates a 1.2 out of 5 (out of 5 reviews on iOS and Android) compared to the national average of 3.8. You can utilize Urban Partnership Bank's app to manage your accounts by reviewing current statements, sending and receiving money and accessing customer service. Urban Partnership Bank receives an outstanding consumer satisfaction score based on relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 1.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

2.3
SmartAsset Average: 4.8

Urban Partnership Bank is a medium-size bank with assets totaling $472 million as well as $425 million in deposits. Its Texas Ratio is 54.50%, signifying 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

54.5%
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 Urban Partnership Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $50
Checking Account 0.01% APY $2500
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.35% APY
  • 36 Month: 1.21% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.26% APY
$500 for all terms
Money Market Account 0.2% APY $10000

Urban Partnership Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Urban Partnership Bank does not have the best savings rate, which means you should consider looking 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. Urban Partnership Bank's CD rates are fair compared to the average U.S. bank.

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Find a Urban Partnership Bank Near Me

Urban Partnership Bank has eight physical locations in the U.S.

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