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.
So far an incredible experience w/ Aspiration and their customer service dept. With respect to some of the more negative reviews I’ve read, I felt compelled to add: I’ve been a customer with a few relatively newer, online-only banks, and worked for a large bank myself. While sometimes there can be process hiccups here and there, the product offering and mission is, IMO, worth partnering with them on their growth journey. These aren’t giant mega-banks (though I hope they get there), so while I sympathize with people who’ve had a rough edge case experience, I don’t expect them to have perfected every detail - just the major stuff like customer service, ability to access funds, and a quality mobile and desktop web app, which is fair to expect from anyone and even moreso a company with less tech debt in their IT org (though also fewer software engineers to go around).
I’m excited about the mission and extremely competitive savings returns Aspiration offers. That’s why I became a customer, and assuming those things don’t change, I expect to remain one for a long time.
As near as I can figure this is a FRAUD company. I opened an account just to get a $100., promotion. I complied with all of their instructions and they won't honor their promotion. I have made many calls to them with no resolution. I am going ahead with a "class action" lawsuit to bust this SCAM. Contact me if you want to join. [email protected]
NOTE: 54% RATE THIS SO CALLED BANK AS ONE STAR! THEY WOULDN'T EVEN HAVE ONE STAR UNLESS YOU REALIZE NO STARS WAS NOT AN OPTION! THIS CHART LOOKS LIKE IT'S FOR DONALD TRUMP. 30% THINK HE'S GREAT AND 54% KNOW HE'S GARBAGE.
|FDIC Certificate #||34403|
|Return on Assets - YTD||1.16%|
|Return on Equity - YTD||11.48%|
|Annual Interest Income||$11.4MM|
|Assets and Liabilities|
|Assets||Q1 2019vs Q1 2018||$1.12B$830.8MM|
|Loans||Q1 2019vs Q1 2018||$781.2MM$670.1MM|
|Deposits||Q1 2019vs Q1 2018||$996.5MM$729.3MM|
|Equity Capital||Q1 2019vs Q1 2018||$105.8MM$78.3MM|
|Loan Loss Allowance||Q1 2019vs Q1 2018||$9.9MM$8.4MM|
|Unbacked Noncurrent Loans||Q1 2019vs Q1 2018||$83.00K$1.5MM|
|Real Estate Owned||Q1 2019vs Q1 2018||$0$0|
Always verify rates and promotions with the bank or credit union. We are not Aspiration; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.00%||-||-||Spend and Save Account|
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