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Western Commerce Bank Review

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Western Commerce Bank Savings
0.23% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Western Commerce Bank was founded in 1961 with its headquarters in Carlsbad, New Mexico. It has $416 million in assets as well as $378 million in deposits, classifying it as a medium-size bank. Western Commerce Bank 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 in-person service, in addition to its online and mobile offerings. Overall, Western Commerce Bank is a great bank that you should seriously consider, with a score of 4.4 out of 5 stars from the SmartAsset team. Western Commerce Bank provides customers with the complete selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, Western Commerce Bank's standard checking account does not have a monthly fee. Institutions that offer free checking, in addition to a high savings APY are the best option for accruing the most income from your deposits while having convenient access to your money.

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

With a savings rate of 0.23%, Western Commerce Bank ranks poorly compared to the average U.S. bank. Western Commerce Bank's one-year CD earns at a rate of 1.00%, while its highest-yielding money market account earns at a rate of 0.20%. Given Western Commerce Bank's below average savings rate, you should consider taking a look at other banks for savings accounts.

How Western Commerce Bank's Savings Rates Compare

Western Commerce Bank Savings 0.23 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Western Commerce Bank has typically extremely low fees in comparison to the average U.S. bank. Western Commerce Bank's checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. Western Commerce Bank doesn't refund out-of-network ATM fees, meaning you'll be required to search for a Western Commerce Bank ATM or accept the ATM charge.

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

Western Commerce Bank is a brick-and-mortar bank, with 12 total bank locations in New Mexico. With mobile and web apps, Western Commerce Bank makes account access convenient, even on the go. Western Commerce Bank gets high praise from users for its online presence. The Western Commerce Bank mobile app is rated at 4.7 out of 5 (out of 3 customer reviews on iOS and Android) compared to the national average of 3.8. You can access Western Commerce Bank's mobile app to control your bank accounts by looking at current statements, sending and receiving money as well as reaching customer service. Western Commerce Bank receives an exceptional consumer satisfaction rating based on comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Western Commerce Bank is a medium-size bank and owns assets totaling $416 million as well as $378 million in deposits. Western Commerce Bank has an excellent Texas Ratio of 4.39%, suggesting a negligible probability of failure. Additionally, Western Commerce 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 Western Commerce Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.23% APY $500
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.25% APY
  • 36 Month: 1.36% APY
$1000 for all terms
Money Market Account 0.2% APY $1000

Western Commerce Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Western Commerce Bank 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. Western Commerce Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Western Commerce Bank Near Me

Western Commerce Bank has 12 branches across the U.S.

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