Cattaraugus County Bank is headquartered in Little Valley and is the 106th largest bank in the state of New York. It is also the 2,490th largest bank in the nation. It was established in 1902 and as of December of 2019, it had grown to 65 employees at 7 locations. Cattaraugus County Bank's savings rates are 92% higher than the national average, and it has an A health rating.
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Mediocre At Best
This bank is pretty bad when you compare it to some of the bigger chains. The employees are pretty friendly, I'll give you that, but there are a few things I can't overlook. I'll be taking my business elsewhere.
For one thing, the hours are awful. Most people work or are in school past 3 pm on a weekday. But that's only a minor problem compared to everything else.
When I opened a checking account, I wasn't given any checks. It's customary to receive a few checks at least when the account is opened. I didn't get a single one, in fact checks are really expensive here.
Another issue is with their fraud detection service. They outsource it to a company with a really sketchy sounding name. When my card got mistakenly blocked for "fraud" I received a letter in the mail. That's right, a letter. It looked like a scam. I brought it into the bank to make sure that it wasn't real, and the teller didn't know either. She had to ask her supervisor, who told me in a nasty voice that it was in fact legitimate and that if I had given a correct phone number (which I did in the first place) I would have instead received a call.
The app doesn't work well and is very slow. The website isn't too user friendly either.
Finally, the bank doesn't redeem ATM fees. Not only am I charged $2.50 to use a foreign ATM, CCB DOES NOT reimburse you for whatever fee the ATM itself charges for use. This isn't competitive at all. It's kind of a wonder this bank stays in business. From a consumer's standpoint it makes more financial sense to switch to a chain so I don't lose $6 every time I use an ATM.
Could Be Better
This bank makes to many mistakes. Something is always coming in the mail saying they underestimated something. Will not use again.
Banking At Cattaraugus County Bank CCB
I am leaving the lowest possible star, for they seem to want one. After banking there for 12 years I can confidently say that an average person is completely unwelcome and unwanted at this bank. They will possibly say hi to me but mostly it's a soulless look received. I get the feeling that I am just a bother and what they are thinking is"why are you here again?" At various times I have requested small loans and there is always the No answer, my credit score is 730 and I have worked and earned that many times over, but this bank always has an excuse for turning me down.
Data as of Q4 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 12959 |
| Year Established | 1902 |
| Employees | 65 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.73% |
| Return on Equity - YTD | 8.36% |
| Annual Interest Income | $11.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $251.7MM$246.6MM |
| Loans | Q4 2019vs Q4 2018 | $198.7MM$189.3MM |
| Deposits | Q4 2019vs Q4 2018 | $223.7MM$221.3MM |
| Equity Capital | Q4 2019vs Q4 2018 | $22.8MM$20.8MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $2.7MM$2.9MM |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $1.0MM$1.2MM |
| Real Estate Owned | Q4 2019vs Q4 2018 | $30.00K$0 |