I have been banking with Beneficial since 2nd grade, and continue to keep my savings with them even though I know live in an area where it is no longer convenient. They have been very good to me over the years, and when I started college they gave me an incredible interest rate for my savings account, as well as reimbursing me for all ATM fees. I cannot say enough good things about my bank, and I really trust them as a financial institution. I have always been greeted by a friendly face and willingness to help.
Beneficial bank offers free checking, as long as my account stays at a minimum of $100. That's what drew me in, and it's local to my home. I don't like how they often place holds on my card without warning. They claim they're trying to benefit me from fraudulent activity, but the purchases are always on my end, never fraudulent. I am also not a fan of how the mobile app and website always require authenticity checks. I have to go through a string of email and text message verifications before I can even access my online information. I do like the mobile app, it allows me to deposit checks via a picture. All in all, I think the bank needs to be updated and offer better customer service.
|FDIC Certificate #||15697|
|Return on Assets - YTD||0.83%|
|Return on Equity - YTD||5.18%|
|Annual Interest Income||$211.8MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$5.81B$5.80B|
|Loans||Q4 2018vs Q4 2017||$3.85B$3.99B|
|Deposits||Q4 2018vs Q4 2017||$4.32B$4.25B|
|Equity Capital||Q4 2018vs Q4 2017||$912.0MM$961.5MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$43.3MM$43.3MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$22.3MM$23.2MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$754.00K$189.00K|
Rates for Beneficial Bank are currently being reviewed.