Average User Rating:3 star rating based on 5 reviews.
Beacon Federal Bank
Beacon Federal Bank Locations|
6611 Manlius Center Road East Syracuse, NY 13057 (888) 256.3800  |
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Beacon Federal Reward Checking accounts managed out of Tyler Texas branch will be converting to MidSouth Bank Advantage Consumer account as of 12/2/11. Welcome to MidSouth Bank Last statement from Beacon will be dated 12/2/11. Login
Several readers became customers at Beacon Federal last year due to its high-interest reward checking account. The bank has some additional deposit deals that would be most appealing to those with lar ...
Minimum $10K to fund the account and at least 50% of the funds must be new money (ie: not currently on deposit at Beacon Federal). Beacon Federal has a 5-star health rating.
OK, I admit that I am getting paranoid about RCA changes these days. First, I noticed that Ken's List no longer included Beacon Federal... because the RCA information was all gone (the commercial along with rate/requirements information). I c
2010
- 11/2 - 5 Best Reward Checking Accounts Available Nationwide - Updated for November
- 10/12 - Beacon Federal's 4.00% Reward Checking - Confirmed Nationally Available (Forum)
- 9/12 - High-Yield Reward Checking Account at Beacon Federal in Parts of NY, MA, TN & TX
2009
Beacon Federal
- rosie43 - Sunday, December 19, 2010 - 12:46 PMI opened an account with Beacon Federal a few months ago. The employees have been most informed and helpful. Would recommend this account to everyone.
Can't Make Loan Payments Through Online Banking
- Anonymous - Thursday, July 7, 2011 - 7:55 AMThey're web services do not allow you to make loan payments through their online system. This is the one bank out of all the banks I've ever dealt with that requires me to pay with a paper check. I find this extremely frustrating and will never do any business with beacon ever again until they fix this.
Love This Bank
- Anonymous - Friday, January 14, 2011 - 11:26 PMGreat bank with helpful staff. The credit check is a draw back though.
No Longer Nationally Available
- Anonymous - Monday, November 1, 2010 - 11:36 AMI called on Nov 1, 2010 to inquire about opening an account, and the reward checking is no longer nationally available.
3-year Term IRA CD
1.21% APY
Great Rates, But At A Cost.
Beacon Federal had the best rates for my used car(1% better than everyone else). Me and my wife were extremely happy with that.
But there is a cost. First off, you can not go online and pay your bill(inexcusable in this day and age). You can set up a checking account for automatic withdrawal, but sometimes I like to pay my bill at different times of the month and would like the option to do so. Second, they will send you a bill every month, there is no return envelope with it(I know, not a huge deal but a minor inconvenience).
The one time I misplaced my bill and I was sent a late notice with huge late fees(no problem, my mistake for not paying on time), but the late notice did not include the address of where to send the payment nor did it have a payment coupon for me to send. It was just a letter telling me my payment was late.
When I callled to try and get my late payment taken care of on the phone, since I couldn't immediately pay it online, I was told that making a check payment over the phone was a $9 charge and making a VISA payment over the phone was a $15 charge. I ended up driving into the branch and paying in person. Then, i refinanced my auto loan at my local credit union for the 1% higher interest rate and it is worth a few extra dollars every month for the added service.
If APR rate is all you care about, Beacon is the place for you. If you expect a little more from your credit union, i would suggest going elsewhere.