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.
The companies going through changes. It was understaffed and didnt realize the success of their product and the needs of the customers overwhelmed this new start up company. They are so good. Many companies are coping them. They fixed this by hiring new employees. It takes time to hire, get all secured verification done. Overall people reacted to raging and being unhappy as a result of not knowing how aspiration accounts work and not having a pretty understanding that if its a start up company migrations are hard on everyone and the companies growing. Before I started working for them I saw negative reviews but could tell through reviews that it didnt reflect what aspirations about. I decided to work for aspiration. I choose to be a customer. I can tell before becoming a customer or an employee. They care about their customers. Its just new, there was a migration, and it had so many emails. (Fantasy Ex: 1 person 30 000 emails) Not factual but it makes sense. I've tried so many banks and best advice always have another financial institution to go to, always have two. I've tried multiple fiancial institutions and dislike many over 8+ but I can tell aspiration does care and advocates for the customers and now even working at aspiration I can completely tell everybody here wants to do their best for all aspiration customers. It just takes patience but theyre getting everything together for perfection. Everyones so friendly and its amazing for environment - planet that the companies conscious of how they impact our environment and theres no fees. Everyone wants the bank to be established but an adult has to be a baby first to become an adult. You cant skip steps in business growth and adding developmental additions over time. I worked at a startup and my friends and I start off as 3 people in a room. You never can anticipate your product going viral, like no expected dated for so many people to love it. So many people love aspiration and its amazing how fast its growing. A few angry people do not determine the incredible amount of success the company is achieving. Customer Service is #1 at this company. If you can accept its continuous growth and its huge success in hiring more employees to reach every customer, overall its just a great company. Theres so much to be achieved in the futurefor this company, I reccomend it.
Aspiration is interested in working with altruistic and green companies that make you feel good about banking. Their "planet first" motto for banking makes me feel like I am banking with the bank that cares about the 99 percent. The online products include checking and investing products. They let you know at the end of the month how green your money is. Their online newsletter is chock filled with information that educates in a positive way.
I have been a memeber of this bank for a year now and there have been nothing but problems, it takes at least 45 min to 1 1/2 hours to talk to a live person and I’ve have email requests answered a week later when my paycheck wasn’t showing in my account. Terrible customer service and even worse banking.
Never in my life have I seen anything like this.
For absolutely no warning or reason, Aspiration locked my account and sent a form email requesting identifying documents. You would think they would have asked for the documents before accepting my money. After sending the requested documents - RADIO SILENCE from Aspiration. They have my money and ID information. Account still locked.
Could this bank be a scam, have they gone broke already, or are they just incompetent? Either way, they should not be handling anyone's money. If I'm lucky enough to finally get my account unlocked, I'm taking my money and getting as far away from this company as I can.
I fully expect to see this bank's executives on the news for executing a Ponzi scheme.
BEWARE. YOU'VE BEEN WARNED.
|FDIC Certificate #||34403|
|Return on Assets - YTD||1.19%|
|Return on Equity - YTD||11.85%|
|Annual Interest Income||$38.7MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$952.0MM$805.6MM|
|Loans||Q4 2018vs Q4 2017||$758.5MM$648.8MM|
|Deposits||Q4 2018vs Q4 2017||$823.9MM$705.5MM|
|Equity Capital||Q4 2018vs Q4 2017||$102.4MM$77.0MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$9.4MM$8.0MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$1.3MM$1.7MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$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