North Country Savings Bank
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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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%.
Data for Q4 2013
Institution Health
Texas Ratio
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
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
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
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 Established | 1909 |
| Employees | 73 |
| Primary Regulator | FDIC |
| 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 Margin | 3.74% |
| Return on Assets | 0.23% |
| Return on Equity | 1.77% |
| Interest Income | $9.32 million |
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
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $75k | - | IRA Advantage | |
| 0.10% | - | - | Christmas Club | |
| 0.10% | - | - | North Country Kids Savings Account | |
| 0.10% | $50 | - | Passbook Savings Account | |
| 0.10% | $50 | - | Statement Savings Account | |
| 0.10% | $50 | - | IRA Passbook Account |
North Country Savings Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $75k | - | Money Market Advantage Account | |
| 0.15% | $1k | - | Money Market Passbook | |
| 0.15% | $2,500 | - | Money Market Demand Account | |
| 0.15% | $1k | - | Money Market Statement Savings |
North Country Savings Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.05% | - | $25k | Advantage 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
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 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
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 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 |
| North Country Savings Bank Locations | ||
|---|---|---|
| Slu Student Center Branch | 1 Millennium Way | Canton, NY 13617 |
| The North Country Savings Bank | 127 Main Street | Canton, NY 13617 |
| Massena Branch | 22-24 Phillips Street | Massena, NY 13662 |
| Potsdam Branch | 31 Main Street | Potsdam, NY 13676 |
| Greene and Caroline Streets Branch | Greene and Caroline Streets | Ogdensburg, NY 13669 |