At Boiling Springs Savings Bank, they believe that true community banking means providing their customers with the best solutions to their financial needs through superior personal and professional service provided by a staff of dedicated people. It also means being a part of the community. They strive to support their communities by making a positive impact on the organizations and neighborhoods within their market.
Update On Poor Review
I've had an IRA with this bank since I was a kid, perhaps 45 years now. I've had approximately $150 in the account for years, asking to close the account numerous times because, why have $150 in an account?
A nice woman called and said that since it's been so long and that I don't have a passbook, they are charging me $10 for the lost passbook, and $50 to close the account, the 'normal' procedure.
Edit: After my poor review The bank manager called this morning and waived all fees, hence I've upgraded my review. Always ask about fees. I've never had a bank charge this much to close an account. Most don't charge a fee, some $30, but $60 on a $150 account is crazy. Their teller should have known this was wildly unfair and should have routed me to the manager to work it out.
Exorbitant Fee To Close An IRA CD1
I had a 3-yr. IRA CD which was maturing. I came upon the reviews about charging $50 to close an IRA CD. Over the years I have transferred many, many IRA accounts in order to obtain the best rates.
I went home and carefully read my June 2019 Agreement and nowhere was there anything about a fee to close an IRA CD.
The next morning I contacted the bank's customer service and explained the situation and felt that I should be "grandfathered" since a fee was instituted way after I opened the account in 2019.
Later that day I received a call from the Asst. Manager stating that the fee would not be waived.
I'm putting this out there so that others will not be held hostage as I feel I was.
Do Not Bank Here
do not bank here I closed an IRA and they charge a fifty dollar fee to close an account no way does it cost fifty dollars to close any account will never recommend bank to anyone who ask me
Absolute Disaster Of A Bank
Their customer service, their attitude, completely disorganized, they lie to you about what they offer. I got a loan from them and it was worst process ever. If you can find another bank, any thing is better than them.
NO STAR RATING
I went to Boiling Springs last year to close out a CD that was set up almost 20 yrs ago when my great-grandmother passed away. Since it was the last day of the period allowed, and we did not have a passbook, we were told that we could close the account and pay $10 for the account not having a passbook or they would put a note in the system and next year we would not have any problems. Well, guess what....
Passbooks were not issued because of how the account was opened and when I went to get the money this year, again same issue with the passbooks. The only note put on the account last year was that we came to take it out of a dormant state. They will not let me close the account without a passbook and are going to charge me $10 because I "lost" a passbook that was never issued! First off, to charge me a $10 fee for a passbook is ABSURD and then to make me have one to close the account is even more ridiculous! THIS BANK IS CRAP. I have 4 other accounts in this bank and they are all being closed.
Do yourself a favor, find another bank before they find some reason to charge you for ridiculous things.
My Rating For This Bank Is A Zero
My rating for this bank is a zero. I approached the mortgage department asking for a reprieve for 2 months because I have a seasonal business. I paid my mortage promptly for 15 years but had a rough patch. They treated me like shit and were anxious to trash my credit. They keep sending me late fees for a balance of $3,000. Go to Wachovia in Rutherford and ask for Lina. This is the best bank and they care about their customers. Boiling Springs Savings Bank rates a zero in my book. I will tell all my friends.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 30052 |
| Year Established | 1939 |
| Employees | 185 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.1% |
| Return on Equity - YTD | 0.7% |
| Annual Interest Income | $29.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $1.96B$2.58B |
| Loans | Q2 2022vs Q2 2021 | $1.41B$1.24B |
| Deposits | Q2 2022vs Q2 2021 | $1.42B$2.02B |
| Equity Capital | Q2 2022vs Q2 2021 | $276.5MM$204.6MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $14.1MM$15.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $10.3MM$12.7MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$384.00K |