Started in 1899, Washington Financial Bank has $1 billion in assets along with $945 million in deposits, which makes it a medium-size bank. Washington Financial Bank, whose headquarters are in Washington, Pennsylvania, 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 in-person service, in addition to its online and mobile apps. We gave the bank a 4.2 out of 5 stars, which means Washington Financial Bank is a great bank that you should seriously consider. Washington Financial Bank has the complete package of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Washington Financial Bank offers an option without a monthly fee. Locating an institution with free checking as well as a high interest rate savings account is your best option for returning the most income from your deposits while having convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Washington Financial Bank has a savings rate of 0.20%, which is poor compared to the national average. Washington Financial Bank's one-year CD earns at a rate of 0.50% and the five-year CD has a rate of 1.86%, while its highest-yielding money market account has a rate of 0.30%. Given Washington Financial Bank's poor savings rate, you should consider opting for higher earning savings accounts with other banks.
How Washington Financial Bank's Savings Rates Compare
Washington Financial Bank typically has extremely low fees in comparison to the average U.S. bank. With no monthly fee, Washington Financial Bank is perfect for those who want a basic checking account. Washington Financial Bank refunds their out-of-network ATM fees, which gives convenient access to cash at any time.
Washington Financial Bank is a brick-and-mortar bank, with 10 total branches in Pennsylvania. With mobile and web apps, Washington Financial Bank makes account access straightforward, even on the go. Washington Financial Bank receives poor reviews from customers for its mobile banking services. The Washington Financial Bank mobile app has been given a 3.4 out of 5 (with 49 customer reviews on Apple and Android) compared to the national average of 3.8. Washington Financial Bank's mobile app allows you to control your funds by checking monthly statements, transferring money as well as reaching customer service. Washington Financial Bank gets an excellent consumer satisfaction rating due to relatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Washington Financial Bank is a medium-size bank owning $1 billion in assets as well as $945 million in deposits. Its Texas Ratio is 2.95%, signifying that the bank is in outstanding financial shape and unlikely to fail. Additionally, Washington Financial 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 Washington Financial Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.2% APY||$2500|
|Checking Account||0.15% APY||$2500|
|Certificates of Deposit|| ||$10000 for all terms|
|Money Market Account||0.25% APY||$10000|
Washington Financial Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Washington Financial Bank does not have the best savings rate, which means you should think about looking 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. Washington Financial Bank's CD rates are fair compared to the national average.Back to Overview
Find a Washington Financial Bank Near Me
Washington Financial Bank has 10 physical locations across the U.S.Back to Overview