Aspiration

Deposits held and insured by Coastal Community Bank

Overview / Commentary
800-683-8529
4640 Admiralty Way
Marina Del Rey, CA 90292
Deposits held and insured by Coastal Community Bank

Aspiration (an online investment company) and Coastal Community Bank (an FDIC-insured bank) have teamed up to offer The Aspiration Account, formerly known as the Aspiration Summit Account. This is a high yield checking account that has no monthly fees and offers free worldwide ATM access. In fact, the interest rate on this checking account rivals the top savings accounts on the market. Upon the account's release, it was quickly labeled by many reputable news publications as the best checking account in the country. It’s hard to argue with this when considering its appealing combination of low fees and high interest.

It’s worth noting that while this summary is dealing mostly with the deposit accounts available at Aspiration through Coastal Community Bank, Aspiration also offers a couple investment accounts that are aimed at middle-class consumers and seek to provide investment opportunities and advantages that traditionally are only available to wealthier consumers. Assets in these investment accounts are held by UMB Bank.

Aspiration’s consumer products are impressive, but equally impressive is the company’s commitment to giving back to the community. Through their “Dimes Worth of Difference” program, they donate a tenth of their revenue to various charities that seek to advance economic opportunities for the less fortunate.

Aspiration is headquartered in Marina Del Rey, CA. Any US citizen or lawful resident over 18 can open an account.

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Reviews (183)

Fantastic Bank

Posted by: |

I have been with Aspiration for a while now and I had money taken out of my account without my permission. Aspiration froze the account and I was concerned because I have direct deposits going into this account. They were amazing and offered a one-time withdrawal from the atm before they froze the card completely and then expedited my new card all within 5 days. Kudos Aspiration keep doing a great service to your customers.

Great Environmentally-Focused Bank!

Posted by: |

I changed to Aspiration because I wanted to support a sustainable bank that does social and environmental good. Aspiration is fairly new compared to other banks offered, so there are some things that need improvement but I know with time Aspiration will be just as quick and flexible as the other banks. I really wish that Aspiration connects with Zelle soon, because instant real-time transfers to friends is very useful. Or even just quicker transfers between trusted bank accounts linked to our Aspiration account would be a useful upgrade. Overall, I love Aspiration and their stocks (Redwood Fund) have been profitable!

Mickeymouse Bank

I deposited $10 by ACH as initial deposit to minimize risk while trying them out. It's been over two weeks and I have yet to receive my debit card. The ACH deposit took over one week to clear. Putting any real money in here would be a real problem.

Credit Unions rarely invest in fossil fuels, are member-owned, and are a better option.

Great In Theory, But...

Posted by: |

Really wanted to believe in Aspiration; signed up before the Radius split, and well before the changeover (over a year) I registered a change of address. After the split, I requested checks; none arrived after several weeks. I talked to a rep who confirmed all my info, and they promised to send new checks. Again, nothing. Months later, my old landlord contacted me about a piece of mail: yup, the checks had been delivered to my old address. If a bank can’t get an address right, and can’t find the problem with the customer on the phone, you’ve got problems. I stopped using them immediately.

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Health
A+

Data as of Q4 2019

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

Health Grade Components

Overall
FDIC Certificate #34403
Year Established1997
Employees195
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.31%
Return on Equity - YTD12.44%
Annual Interest Income$48.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.13B$952.0MM
LoansQ4 2019vs Q4 2018$927.6MM$758.5MM
DepositsQ4 2019vs Q4 2018$981.8MM$823.9MM
Equity CapitalQ4 2019vs Q4 2018$123.1MM$102.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$11.5MM$9.4MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$82.00K$1.3MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates

Rates for Aspiration are currently being reviewed.

Locations

Aspiration is an Internet only bank and does not have branch locations. Its headquarters is located at 4640 Admiralty Way - Marina Del Rey, CA 90292

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 [email protected] 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.