Walden Savings Bank first started operating in 1872 with headquarters in Montgomery, New York. Walden Savings Bank handles $543 million in assets and $491 million in deposits, ranking it as a medium-size bank. Walden Savings Bank has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. On the whole, Walden Savings Bank is a good bank that gets the job done, with a rating of 4.0 out of 5 stars from the SmartAsset experts. Walden Savings Bank provides customers with a full choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. Walden Savings Bank has a fair savings rate; other popular banks have higher rates. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is the best option for accruing the most income from your deposits while maintaining easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Walden Savings Bank has a savings rate of 0.10%, which is fair compared to the average U.S. bank. Its CDs feature a rate of 0.75% and 1.75% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has a rate of 0.25%. Given its below average savings rate, you should consider taking a look at other banks for savings accounts.
How Walden Savings Bank's Savings Rates Compare
Walden Savings Bank has generally low fees compared to the average U.S. bank. Additionally, at $34.00, Walden Savings Bank has a markedly lower overdraft fee compared to the national average overdraft fee. Walden Savings Bank doesn't refund out-of-network ATM charges, meaning you will need to search for a Walden Savings Bank ATM or pay the ATM charge.
Walden Savings Bank is a brick-and-mortar bank, with 11 total branches in New York. With mobile and web apps, Walden Savings Bank makes account access straightforward, even on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Wednesday, 8:30 a.m. to 5:00 p.m. ET; Thursday and Friday, 8:30 a.m. to 6:00 p.m. ET; Saturday, and 8:30 a.m. to 12:00 p.m. ET. Walden Savings Bank also offers a live chat feature, which may provide helpful service without getting on the phone. Walden Savings Bank gets poor feedback from users for its online presence. Out of 81 ratings on Apple and Android platforms, the Walden Savings Bank mobile app rates a 3.1 out of 5 (compared to the national average of 3.8). Walden Savings Bank's mobile app lets you manage your accounts by reviewing account balances, sending and receiving funds as well as reaching customer service. Walden Savings Bank receives a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Walden Savings Bank ranks as a medium-size bank with $543 million in assets as well as deposits totaling $491 million. Its Texas Ratio is 7.43%, suggesting a tiny possibility of failure. Additionally, Walden Savings Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
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.Back to Overview
Compare Walden Savings Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$50|
|Checking Account||0.05% APY||$5000|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.25% APY 0.25% APY||$10000 $15000|
Walden Savings Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Walden Savings Bank does not have the best savings rate, which means you should consider 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. Walden Savings Bank's CD rates are fair in comparison to the average U.S. bank.Back to Overview
Find a Walden Savings Bank Near Me
Walden Savings Bank has 11 branches across the U.S.Back to Overview