ableBanking

Deposits held and insured by Northeast Bank

Opened CD Online For First Time With Able

Opened the 2 year, 3.2% today. You have to read and click the disclosures to move forward in the process. Have your DL handy and beneficiary info. Was allowed 3 beneficiaries on a joint CD and able to put charitable organizations by putting part of name as "first" and rest as "second". You will need tax ID#'s for beneficiaries.
In a couple of days 2 micro deposits will go in and out of my external funding bank, then I'll log back in, enter those amounts and when CD is funded they'll mail me signature cards which need to be returned with copy of drivers license. Rep said when CD matures call them and they will ACH to external bank if that's what we want. She said we'll get notice 30 days before maturity. Seemed straight forward, no problems.

Great Rates - But Horrible CS And Fraud Policies

Posted by: Sperry8 | Dec 29, 2018

I love their rates so I have an account here. Unfortunately they are terribly annoying. If you log into your account from a State that differs from your home State (think holiday or vacation travel) the banks fraud department will call you and demand you call them back. They want to verify its you logging in. As though people don't travel around the US! They do this EVERY time you log in away from your home State. I've never dealt with a more annoying bank. Not worth the extra basis points to have to deal with the stress.

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.

Caution For Online Account Opening

Posted by: Ravaan | Nov 20, 2018

Wanted to open an online CD and thought to check their Truth in Savings Disclosure document. They have quite a few documents available online BEFORE you open an account, but NOT the Truth in Savings document. The customer service agent informed me that it is presented ONLY AFTER all the account opening details are given online. This is opposite from all other banks I work with. They present Truth in Savings BEFORE we share our details with the bank. I do not feel comfortable dealing with a bank that hides this particular document, but shows the rest!

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Health
B+

Data as of Q2 2019

Data displayed below is for insuring bank: Northeast Bank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #19690
Year Established1872
Employees174
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.89%
Return on Equity - YTD13.73%
Annual Interest Income$42.7MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.15B$1.16B
LoansQ2 2019vs Q2 2018$973.3MM$874.0MM
DepositsQ2 2019vs Q2 2018$960.0MM$972.1MM
Equity CapitalQ2 2019vs Q2 2018$153.6MM$155.7MM
Loan Loss AllowanceQ2 2019vs Q2 2018$5.7MM$4.8MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$13.8MM$7.9MM
Real Estate OwnedQ2 2019vs Q2 2018$2.0MM$2.2MM
Rates
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ableBanking Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.85%--Money Market Savings

ableBanking Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.85%--Personal Money Market

ableBanking CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%$1k$240k1 Year CD
2.15%$1k$240k2 Year CD
2.10%$1k$240k3 Year CD
2.10%$1k$240k4 Year CD
2.05%$1k$240k6 Month 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

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