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Volunteer State Bank Review

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Volunteer State Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1977, Volunteer State Bank has $622 million in assets along with deposits totaling $474 million, which makes it a medium-size bank. Volunteer State Bank, whose headquarters are in Portland, Tennessee, lacks premium access to customer service, 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. On the whole, Volunteer State Bank is a solid pick to be your bank, with a rating of 4.2 stars out of 5 from our experts. Volunteer State Bank has a variety of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Volunteer State Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Volunteer State Bank's standard checking account does not have a monthly fee. Using an institution with no-fee checking as well as a high interest rate savings account is the best bet for accruing the highest income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

Volunteer State Bank has a savings rate of 0.15%, which is poor in comparison to other U.S. banks. Its one-year CD has a rate of 1.50% and the five-year CD has a rate of 2.00%, while its highest-yielding money market account earns at an APY of 0.25%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How Volunteer State Bank's Savings Rates Compare

Volunteer State Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, Volunteer State Bank charges its customers extremely low fees as compared against the national average. Volunteer State Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. Volunteer State Bank does not refund out-of-network ATM fees, which means you'll be required to find a Volunteer State Bank ATM or accept 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

SmartAsset Average: 3.7

Volunteer State Bank is a brick-and-mortar bank, with 10 total bank locations in Tennessee. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Volunteer State Bank's online and mobile banking platforms receive poor scores from users. The Volunteer State Bank mobile app rates a 3.2 out of 5 (out of 33 customer reviews on iOS and Android) compared to the national average of 3.8. You can use Volunteer State Bank's mobile app to control your funds by reviewing current statements, sending and receiving money as well as reaching support representatives. Volunteer State Bank gets a superb consumer satisfaction rating based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.2/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Volunteer State Bank is a medium-size bank owning assets totaling $622 million and deposits totaling $474 million. Volunteer State Bank has a strong Texas Ratio of 10.44%, indicating that Volunteer State Bank is in good financial shape and improbable to fail. Additionally, Volunteer State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Volunteer State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $1
Certificates of Deposit
  • 12 Month: 1.50% APY
  • 24 Month: 1.55% APY
  • 36 Month: 1.80% APY
  • 48 Month: 2.00% APY
  • 60 Month: 2.00% APY
$1000 for all terms
Money Market Account 0.15% APY $1

Volunteer State Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Volunteer State 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. Volunteer State Bank's CD rates are fair in comparison to the national average.

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Find a Volunteer State Bank Near Me

Volunteer State Bank has 10 locations across the U.S.

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