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Yakima Federal Savings and Loan Association Review

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Yakima Federal Savings and Loan Association Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Yakima Federal Savings and Loan Association Bank was founded in 1905 and is headquartered in Yakima, Washington. Yakima Federal Savings and Loan Association has $2 billion in assets as well as deposits totaling $1 billion, ranking it as a large bank. Yakima Federal Savings and Loan Association 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 access to service representatives at a physical location, in addition to its online and mobile apps. With a commendable 4.2 out of 5 stars, Yakima Federal Savings and Loan Association proves it is a great choice and should warrant serious consideration. Yakima Federal Savings and Loan Association provides customers with a diverse array of banking products, including 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 looking for a checking account for everyday use, Yakima Federal Savings and Loan Association offers an option without a maintenance or monthly fee. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is the best bet for gaining the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

With a savings rate of 0.05%, Yakima Federal Savings and Loan Association ranks poorly compared to other U.S. banks. Yakima Federal Savings and Loan Association's one-year CD earns at a rate of 0.25% and the five-year CD has a rate of 3.00%, while its highest-yielding money market account has a rate of 0.20%. Given Yakima Federal Savings and Loan Association's below average savings rate, you should think about opting for higher earning savings accounts with other banks.

How Yakima Federal Savings and Loan Association's Savings Rates Compare

Yakima Federal Savings and Loan Association Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

Yakima Federal Savings and Loan Association Bank has generally extremely low fees in comparison to the average U.S. bank. Yakima Federal Savings and Loan Association's checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. Yakima Federal Savings and Loan Association unfortunately does not reimburse out-of-network ATM fees, which means you will have to locate a Yakima Federal Savings and Loan Association ATM or eat the 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

3.8
SmartAsset Average: 3.7

Yakima Federal Savings and Loan Association Bank is a brick-and-mortar bank, with 10 total branches in Washington. It also offers access to mobile and web apps for a straightforward mobile-banking experience. Yakima Federal Savings and Loan Association receives fair feedback from customers for its mobile app. Out of 45 customer reviews on iOS and Android platforms, the Yakima Federal Savings and Loan Association mobile app is scored at 3.7 out of 5 (compared to the national average of 3.8). Yakima Federal Savings and Loan Association's mobile app lets you manage your finances by looking at account balances, transferring money as well as accessing support representatives. Yakima Federal Savings and Loan Association receives a superb consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

5.0
SmartAsset Average: 4.8

Yakima Federal Savings and Loan Association is a large bank with assets totaling $2 billion and deposits totaling $1 billion. Yakima Federal Savings and Loan Association's Texas Ratio is 0.58%, denoting a negligible probability of failure. Additionally, Yakima Federal Savings and Loan Association 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.

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Compare Yakima Federal Savings and Loan Association to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.25% APY
  • 24 Month: 0.50% APY
  • 36 Month: 2.50% APY
  • 48 Month: 1.55% APY
  • 60 Month: 3.00% APY
$10000 for all terms
Money Market Accounts 0.05% APY 0.2% APY $10000 $15000

Yakima Federal Savings and Loan Association Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Yakima Federal Savings and Loan Association 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. Yakima Federal Savings and Loan Association's CD rates are fair in comparison to other U.S. banks.

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Find a Yakima Federal Savings and Loan Association Near Me

Yakima Federal Savings and Loan Association has 10 branches in the U.S.

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