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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

Started in 1995, Village Bank and Trust has assets totaling $1 billion and $1 billion in deposits, which makes it a large bank. Village Bank and Trust, whose headquarters are in Arlington Height, Illinois, 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. We ranked Village Bank and Trust at a 4.2 stars out of 5, which means it is a great bank that you should seriously consider. Village Bank and Trust provides customers with a full suite of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Village Bank and Trust's ordinary checking account does not have a monthly fee. Finding an institution with no-fee checking, in addition to a high interest rate savings account is the best option for accruing the highest income on your deposits while having easy access to your funds.

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 has a savings rate of 0.20%, which is poor in comparison to other U.S. banks. Village Bank and Trust's one-year CD has a rate of 0.80% and the five-year CD earns at a rate of 1.50%, while its highest-yielding money market account earns at an APY of 0.30%. Given its poor 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

On average, Village Bank and Trust charges customers extremely low fees in comparison to the national average. With no monthly fee, Village Bank and Trust's checking account is ideal for those who need a hassle-free banking experience. For those who often frequent the ATM, it is perfect because it charges no out-of-network ATM fees. Village Bank and Trust does not reimburse out-of-network ATM charges, meaning you'll have to locate a Village Bank and Trust ATM or eat 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 branches in Illinois. With mobile and web apps, Village Bank and Trust makes account access easy, even on the go. Village Bank and Trust gets unsatisfactory feedback from users for its mobile banking services. With 14 ratings across both iOS and Android platforms, the Village Bank and Trust mobile app rates a 3.1 out of 5 (compared to the national average of 3.8). You can use Village Bank and Trust's app to control your funds by reviewing monthly statements, sending and receiving money and reaching customer service. Village Bank and Trust receives a superb consumer satisfaction score 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 currently a large bank with assets totaling $1 billion and deposits totaling $1 billion. Village Bank and Trust has an excellent Texas Ratio of 3.38%, signifying a negligible chance of 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 Accounts 0.3% APY 0.3% APY $10000 $15000

Village Bank and Trust offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Village Bank and Trust does not have the best savings rate, which means you should think about taking a look 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. 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 across the U.S.

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