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Overview / Commentary
800-683-8529
4640 Admiralty Way
Marina Del Rey, CA 90292

Aspiration (an online investment company) and Radius Bank (an FDIC-insured, online bank) have teamed up to offer 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 Radius 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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Health
B

Health Grade Components

Overall
FDIC Certificate #32551
Year Established1987
Employees110
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.05%
Return on Equity - YTD0.63%
Annual Interest Income$2.7MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$835.0MM$744.1MM
LoansQ2 2016vs Q2 2015$668.3MM$618.2MM
DepositsQ2 2016vs Q2 2015$690.7MM$581.9MM
Equity CapitalQ2 2016vs Q2 2015$71.8MM$60.7MM
Loan Loss AllowanceQ2 2016vs Q2 2015$200.00K$6.8MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$10.7MM$3.4MM
Real Estate OwnedQ2 2016vs Q2 2015$0$141.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Aspiration Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$2,500*-The Aspiration Summit Account
OTHER TIERS: 0.25% Up to $2,500
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