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1-888-I AM-ABLE (1-888-426-2253)
500 Canal Street
Lewiston, ME 04240

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ableBanking’s Money Market Savings Is New Rate Leader - 1/13/2018

ableBanking increased the rate today of its Money Market Savings account by 40 bps to 1.70% APY which is the highest rate for an internet savings account.

ableBanking's 1-Year CD Joins 1.75% APY Club - 12/14/2017

ableBanking (internet division of Maine's Northeast Bank) has raised the rate on its nationally available 1-year CD to 1.75% APY. $1k min deposit, $240k max deposit.

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Reviews (7)

Charity Donation

Posted by: zjts | Apr 4, 2018

I asked at ablebanking.com for additional ways to earn $ for the charity of my choice. They replied:

ablebanking.com will donate twenty five dollars to a charity of your choice when you open an account.

"We give you $25 (of our money!) to give to any charity you choose. (Must be a 501(c)3)

When your friends open an account, we’ll give an additional $25 to any 501(c)(3) charity you choose. The more friends you refer, the more good you can do."

My charity choice is Friends of the Shelter,
EIN 810509474. I love this 501(c)(3) group because they provide financial help for pet care without an in depth interrogation. All they want is to help the animals.

We help pet owners with the cost of spaying and neutering their animals in order to help curb animal over-population.
We help pet owners with other unexpected medical costs of illness or injury to their pets.
We help shelter pets with medications, surgeries, treatments and lab test that would not be covered by the shelter's general budget.
We help potential adopters take home animals from the shelter by providing assistance with costs associated with adoption, health care, etc.

If anyone opens an account & uses my name on the form (reply here & I will send you my name), Friends of the Shelter will get $25.

My Experience With ableBanking

Posted by: BillyBeef | Jan 2, 2015

When selecting my current money market savings account, I was drawn to ableBanking on the advice of a friend who, knowing I'm up for being charitable, thought it was the sort of thing I would be interested in. I was pleased to see that the free $25 donation you can make for setting up the account could go to pretty much any charity you like rather than just from a small predetermined list so if you have a personal interest in a certain charity then chances are you can donate. I believe that a yearly payment will also go to my charity based on interest. Setting the account up was straight forward and all handled online, their online portal is intuitive and very easy to use even for a beginner like me.



I am very happy with the account so far, my payments into it have been swift and trouble free so other than speaking to a customer service adviser once to confirm my charity of choice (they were very helpful, by the way) I have not actually had to put them to the test all that much. I'm hopeful it's going to be a good banking experience over time, so far it has been.

A giving Bank.

I just started an account with this bank less than a year ago. I wanted to get the benefit of an online bank that offers a better yielding rate on my money market account and this is one of the banks that has great rates for that. I was also surprised to learn that they donate twenty five dollars to a charity of your choice when you open an account. I decided to donate to my mothers church because she has been going there for over twenty years and it also made her very happy to help the lord. Which makes me feel pretty good and after being there a year they donate twenty five percent of your account balance to a charity also. That, plus the good MMA rate had me hooked. Everything is also very simple with their online banking. You can also call if you have any troubles with anything and the folks on the phone are very helpful and polite.

Too Many Limitations With What You Can Do With Your Money

All kinds of surprises with this bank that I didn't realize upon signing. I am with other online banks that are not so restrictive. First of all, I didn't realize I couldn't withdraw any funds until they send me a form I must sign and give back to them (which I am still waiting on) so my money is locked in there. Furthermore, the account can only be linked with one other account at a time. I guess that's fine, but when I decided to change the account it would be linked with, I found out I cannot change the linked account within the first 60 days so my fund are locked in there for the time being. I plan to close the account and move the funds into other online banks that are less restrictive.

Absolute Trash

I submitted an application to this bank to open up a savings account. They said I failed some verification questions about my identity and made me submit additional documentation which I did. I was then told that it would take a couple of days to process and then they would fund the account from my other bank. It's over a month later and I keep getting told when I call and when I go online that the account process is still under review. Are they serious?

Terrible Service - Site, App & Everything Else Plagued With Bugs

I opened up an account for the great rate - which is where the happy part ends. Getting money moved into the account required a phone call, because the website did not work (it got very confused about another account, which replaced it?? no idea). After that, I never even got to see my money because logging in via the app AND online via desktop both would show "no account found."

Calling in many times, the people always blamed technical faults and tried to fix, but nothing ever worked. A part of me thought "is my money even there??" so in the interest of caution, I of course closed everything out -- which was done via a bug-filled form on their site that required another phone call since that didn't work either.

Stay far away. Not worth the hassle. I've wasted two weeks moving money around for this. I would really love to get my time back.

Too Restrictive

I didn't realize they put a hold on incoming ACH credits. I had an ACH payroll deposit that they put on hold. I mean really? What bank does that? I understand if you deposit a check or initiate a ACH from them, but when an external entity deposits funds into an account they are clear and available but evidently this bank doesn't understand risk.



Health
B+

Health Grade Components

Overall
FDIC Certificate #19690
Year Established1872
Employees183
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.54%
Return on Equity - YTD11.6%
Annual Interest Income$62.7MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$1.04B$1.01B
LoansQ4 2017vs Q4 2016$776.0MM$772.7MM
DepositsQ4 2017vs Q4 2016$868.1MM$855.4MM
Equity CapitalQ4 2017vs Q4 2016$145.8MM$129.6MM
Loan Loss AllowanceQ4 2017vs Q4 2016$4.4MM$3.2MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$17.3MM$8.3MM
Real Estate OwnedQ4 2017vs Q4 2016$912.00K$3.1MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Ablebanking's MM Savings Is A New Rate Leader (1.70% APY)

pattyb53   |  
ableBanking increased the rate today of its Money Market Savings account by 40 bps to 1.70% APY which is the highest rate for an internet savings account.
Quick & easy application to open. Knowledgeable agents to answer questions. I applied 1/25 and today 1/29, completed with account # & able to log into account.

Rates
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ableBanking Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$250-Money Market Savings

ableBanking Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$250-Personal Money Market

ableBanking CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$500$240k1 Year CD
1.65%$500$240k4 Year CD
1.05%$500$240k6 Month CD
0.90%$500$240k3 Year CD
0.70%$500$240k2 Year CD
Locations

ableBanking is an Internet only bank and does not have branch locations. Its headquarters is located at 500 Canal Street - Lewiston, ME 04240

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact feedback@depositaccounts.com to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.