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Village Bank and Trust Review

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Village Bank and Trust Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Village Bank and Trust started in 1995 with headquarters in Arlington Height, Illinois. It owns $1 billion in assets as well as deposits totaling $1 billion, which makes it a large bank. Village Bank and Trust 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. With a commendable 4.2 out of 5 stars, Village Bank and Trust proves it is a solid contender in your bank search. Village Bank and Trust offers a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Village Bank and Trust has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, the bank's standard checking account does not have a monthly charge. Institutions that offer no-fee checking as well as a high savings APY are the best option for returning the highest income on your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.2/5
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

Village Bank and Trust features a savings rate of 0.20%, which is fair compared to other U.S. banks. Village Bank and Trust's CDs feature a rate of 0.80% and 1.50% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.30%. Given its noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Village Bank and Trust's Savings Rates Compare

Village Bank and Trust Savings 0.20 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Village Bank and Trust has generally extremely low fees in comparison to the national average. With no monthly fee, Village Bank and Trust's checking account is ideal for people who want an easy checking account. For those who often visit the ATM, it is perfect because it charges no out-of-network ATM fees. Village Bank and Trust unfortunately does not reimburse out-of-network ATM fees, meaning you will have to search for a Village Bank and Trust ATM or pay the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.5
SmartAsset Average: 3.7

Village Bank and Trust is a brick-and-mortar bank, with 10 total bank locations in Illinois. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Village Bank and Trust receives unsatisfactory feedback from customers for its mobile platform. The Village Bank and Trust mobile app rates a 3.1 out of 5 (with 14 customer reviews on Apple and Android) compared to the national average of 3.8. You can access Village Bank and Trust's mobile app to manage your funds by monitoring monthly statements, sending and receiving money as well as reaching support representatives. Village Bank and Trust gets a superb consumer satisfaction rating based on relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

Village Bank and Trust is a large bank and handles $1 billion in assets and $1 billion in deposits. Village Bank and Trust's Texas Ratio is 3.38%, signifying that Village Bank and Trust is in outstanding financial well-being and far from failure. Additionally, Village Bank and Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.38%
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 Village Bank and Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.2% APY $200
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.80% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.20% APY
  • 48 Month: 1.25% APY
  • 60 Month: 1.50% APY
$1000 for all terms
Money Market Account 0.3% APY $10000

Village Bank and Trust has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Village Bank and Trust 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. Village Bank and Trust's CD rates are fair compared to the average U.S. bank.

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Find a Village Bank and Trust Near Me

Village Bank and Trust has 10 physical branches in the U.S.

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