Waukesha State Bank Review

Waukesha State Bank Savings

0.25% APY

Founded in 1944, Waukesha State Bank has assets totaling $995 million along with deposits totaling $828 million, classifying the institution as a medium-size bank. Waukesha State Bank, whose headquarters are in Waukesha, Wisconsin, does not have the customer service bells and whistles of other banks. It is a conventional brick-and-mortar bank, which means in-person service, in addition to its online and mobile presence. With a commendable 4.2 stars out of 5, Waukesha State Bank is a great bank that you should seriously consider. 

Waukesha State Bank has a mixture of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. Waukesha State Bank has a fair savings rate, which means other popular banks have higher rates. Perfect for basic banking needs, Waukesha State Bank's most basic checking account does not have a monthly charge. Why use checking and savings accounts with one bank? Seamless transferring of funds between both accounts translates to better interest rates in your savings account with the ease of spending from your checking.

Service Quality

Waukesha State Bank is a brick-and-mortar bank, with 19 total branches in Wisconsin. It also offers access to mobile and web apps for a simple mobile-banking experience. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 6:00 p.m. CT; Saturday, 8:30 a.m. to 12:00 p.m. CT. 

Waukesha State Bank receives positive ratings from customers for its online presence: the Waukesha State Bank mobile app has an overall rating of 4.2 out of 5 (out of 70 reviews on Apple and Android) compared to the national average of 3.8. You can use Waukesha State Bank's mobile app to control your accounts by checking current statements, sending and receiving funds and reaching support representatives. Waukesha State Bank receives an outstanding consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector. 

Products Offered

Waukesha State Bank has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, meaning you have many options to manage your money. Waukesha State Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Waukesha State Bank's CD rates are competitive compared to the national average.

Rates

With a savings rate of 0.25%, Waukesha State Bank ranks below the mean compared to other U.S. banks. Its one-year CD has a rate of 2.22% and the five-year CD has a rate of 2.21%, while its highest-yielding money market account earns at a rate of 1.70%. Waukesha State Bank has a fair savings rate compared to the average savings account. Think about higher earning savings accounts with other banks.

Fees

Waukesha State Bank charges customers low fees in comparison to the national average. With no monthly fee, Waukesha State Bank is ideal for people who want a simple banking experience. For those who use cash often, it is fair because it has ATM fee of $2.00, which is fair compared to the national average. Waukesha State Bank refunds their ATM fees (with conditions), which gives convenient access to cash at any time.

Financial Health

Waukesha State Bank is currently a medium-size bank and owns assets totaling $995 million and deposits totaling $828 million. Waukesha State Bank has a very good Texas Ratio of 10.54%, suggesting that Waukesha State Bank is in good financial condition and far from failure. Additionally, Waukesha State Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Waukesha State Bank Near Me

Waukesha State Bank has 19 physical branches in the U.S.