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USNY Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
USNY Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Started in 2007, USNY Bank has $362 million in assets and deposits totaling $319 million, making the institution a small bank. USNY Bank, whose headquarters are in Geneva, New York, lacks premium access to customer service, 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. Coming in at a commendable 4.1 out of 5 stars, USNY Bank is a respectable bank that gets the job done. USNY Bank offers a variety of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. USNY Bank has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, USNY Bank offers an option without a maintenance or monthly fee. Using an institution with free checking as well as a high savings APY is the best bet for getting the most income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

3.1
SmartAsset Average: 3.5

USNY Bank has a savings rate of 0.15%, which is fair in comparison to the national average. USNY Bank's CD rates are 0.45% and 2.30% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given USNY Bank's below average savings rate, you should consider looking elsewhere to open savings accounts.

How USNY Bank's Savings Rates Compare

USNY Bank Savings 0.15 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

USNY Bank typically has extremely low fees compared to other U.S. banks. USNY Bank's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. USNY Bank unfortunately does not reimburse out-of-network ATM fees, which means you'll need to search for an USNY Bank ATM or eat the withdrawal fee.

Monthly Fee $0 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

3.4
SmartAsset Average: 3.7

USNY Bank is a brick-and-mortar bank, with four total branches in New York. With mobile and web apps, USNY Bank makes mobile banking easy, even on the go. USNY Bank's online and mobile banking platforms receive mediocre scores from users. Out of 2 ratings across both iOS and Android platforms, the USNY Bank mobile app rates a 3.0 out of 5 (compared to the national average of 3.8). You can access USNY Bank's mobile app to manage your finances by checking account balances, sending and receiving money and reaching customer service. USNY Bank receives a superb consumer satisfaction score based on comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

USNY Bank is a small bank owning assets totaling $362 million as well as $319 million in deposits. USNY Bank's Texas Ratio is 4.64%, denoting a low probability of failure. Additionally, USNY Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

4.64%
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 USNY Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Checking Account 0.1% APY $1
Certificates of Deposit
  • 12 Month: 0.45% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.25% APY
  • 60 Month: 2.30% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

USNY Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. USNY Bank does not have the best savings rate, which means you should consider 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. USNY Bank's CD rates are fair compared to other U.S. banks.

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Find a USNY Bank Near Me

USNY Bank has four locations in the U.S.

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