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315-386-4533
127 Main Street
Canton, NY 13617

North Country Savings Bank is headquartered in Canton and is the 108th largest bank in the state of New York. It is also the 2,645th largest bank in the nation. It was established in 1909 and as of December of 2013, it had grown to 73 employees at 5 locations. North Country Savings Bank's money market rates are 70% higher than the national average, and it boasts a A+ health rating.

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Reviews (2)

So Far So Good

So far so good.  Transferred large sum to their hi-yield advantage checking back in Nov'09.  Interest rates still 3% apr.

Their website could use some overhaul.  They charge a monthly fee for their MoneyHQ transfer system.  But you don't have to use it.  Can do standard transfer on their regular transfer interface. 

They do require a lot of paperwork, even for simple things like adding an external transfer account at another bank.  But if you are patient and promptly respond to their requests, things go smoothly.

Their qualifications to meet the hi-yield interest are just slightly easier than other banks.  I use their debit card for all my purchases under $10.00.  It's easy to meet their 10 debit transactions monthly using that method. ;-)

Rates Are 2%

Please note that the Rates are down to only 2%.



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 North Country Savings Bank had $2.2 million in non-current loans and owned real-estate with $33.52 million in equity and loan loss allowances on hand to cover it. This gives North Country Savings Bank a Texas Ratio of 6.55% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for North Country Savings Bank decreased slightly from 7.99% as of December 31, 2012 to 6.55% as of December 31, 2013, resulting in a positive change of 17.96%.This indicates that the balance sheet and financial strength for North Country Savings Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, North Country Savings Bank has increased its total deposits by $2.25 million, resulting in 1.21% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth North Country Savings Bank has shown is above average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. North Country Savings Bank has $239.23 million in assets with $33.52 million in equity, resulting in a capitalization level of 14.01%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #16030
Year Established1909
Employees73
Primary RegulatorFDIC
Assets and Liabilities
Assets$239.23 million
Loans$190.29 million
Deposits$189.02 million
Equity Capital$32.79 million
Loan Loss Allowance$730,000
Unbacked Noncurrent Loans$1.67 million
Real Estate Owned$531,000
Historic Data - December 2012
Assets$231.36 million
Equity Capital$29.79 million
Loan Loss Allowance$893,000
Unbacked Noncurrent Loans$1.67 million
Real Estate Owned$519,000
Profit Margin - Quarterly
Net Interest Margin3.74%
Return on Assets0.23%
Return on Equity1.77%
Interest Income$9.32 million
Rates

Always verify rates and promotions with the bank or credit union. We are not North Country Savings Bank, we are a rate comparison website and can not provide official rates or promotions.

North Country Savings Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$75k-IRA Advantage
0.10%--Christmas Club
0.10%--North Country Kids Savings Account
0.10%$50-Statement Savings Account
0.10%$50-IRA Passbook Account

North Country Savings Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.75%$75k-Money Market Advantage Account
0.15%$2,500-Money Market Demand Account
0.15%$1k-Money Market Statement Savings

North Country Savings Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.05%-$25kAdvantage Checking
0.15%$2,500-Premier Interest Checking
0.05%$25-FREE Business NOW
0.05%--Advantage Checking
0.05%--Low Minimum Interest Checking
0.05%--No Minimum Interest Checking
0.05%--Economy Interest Checking
0.05%--50+ Free Interest Checking
0.05%--VIP Free Interest Checking

North Country Savings Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$500-5 Year CD
0.75%$500-4 Year CD
0.70%$500-4 Year Step Up CD
0.65%$500-3 Year CD
0.55%$500-30 Month CD
0.50%$500-2 Year CD
0.30%$500-1 Year CD
0.30%$500-18 Month CD
0.20%$500-6 Month CD

North Country Savings Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.15%$500-5 Year IRA
0.90%$500-4 Year IRA
0.65%$500-3 Year IRA
0.50%$500-2 Year IRA
0.30%$500-1 Year IRA
0.30%$500-18 Month IRA
Locations


North Country Savings Bank Locations
Slu Student Center Branch1 Millennium WayCanton, NY 13617
The North Country Savings Bank127 Main StreetCanton, NY 13617
Massena Branch22-24 Phillips StreetMassena, NY 13662
Potsdam Branch31 Main StreetPotsdam, NY 13676
Greene and Caroline Streets BranchGreene and Caroline StreetsOgdensburg, NY 13669