EmigrantDirect is an online division of Emigrant Bank, an institution established in 1850 and headquartered in New York, NY. As an internet-only bank, EmigrantDirect offers its customers quick and safe access to their funds at any time through online banking.
At the time of this writing, EmigrantDirect offers only one deposit account product: a no-fee, interest-bearing online savings account. The bank also offers its customers access to the purchase of precious metals (primarily gold) through the bank. Funds deposited with EmigrantDirect are FDIC-insured (up to applicable limits) through the parent bank, Emigrant Bank. Of course, precious metals purchased through EmigrantDirect are not insured by the FDIC.
I have banked with Emigrant Direct for over 10 years now and I have found them to be a reliable online banking institution. I have not had a checking account with them, however, only a savings account. I started banking with them because they were advertising very competitive interest rates on savings accounts (that was before the financial crisis which led to a severe drop in interest rates), and I still think they do have competitive rates compared to other banks.
I don't access the bank very frequently, but have done a number of transfers over the years, and have never had any problem carrying them out. I have had to call customer service on occasion when I have forgotten my password, and they have always been helpful and have resolved my problems. So I am satisfied with Emigrant Direct, and have no desire to change from them.
My experience with Emigrant Direct Bank has been positive. I have savings accounts with them. When I opened them several years ago, the interest rates were much higher (around 5%). Though they have dropped to .5%, that is still significantly higher than what I am earning from other financial institutions. I have found it easy to make deposits and withdrawals, and my experience with customer service has been positive. I highly recommend Emigrant Direct Bank for anyone who would like to watch their savings grow.
I have been using Emigrant Direct for several years and have had a savings account and three CDs with them over this time period. I use the savings account as my primary savings for life, and have invested money in CDs with them several times. I was very happy with their interest rates and think they are competitive within the market. I have dealt with their customer service agents on several occasions trying to change the name on my account. Even though they are just an online bank, I have received very good customer service from them, and have absolutely zero complaints. I would highly recommend this bank to anyone who uses mobile banking and usually transfers money between multiple accounts and banks.
We have had our emergency savings with Emigrant Direct for about 10 years now and have been happy with it. The interest is always higher than our local bank. It hasn't been much in the last few years but that has been across the board. Emigrant is very easy to setup transfers between accounts and usually when I have had to make a transfer, the money is in our checking account within two to three days. In January, they are always one of the first institutions I deal with to have tax forms out online and ready for me. I have only had a few times where I had to deal with customer service but each time they have been very helpful and very responsive. I have never had any fees charged to me for this account. Overall, if you are looking for an online bank with a little higher interest rate, I would recommend Emigrant Direct's American Dream savings account.
|FDIC Certificate #||12054|
|Return on Assets - YTD||2.03%|
|Return on Equity - YTD||10.26%|
|Annual Interest Income||$239.0MM|
|Assets and Liabilities|
|Assets||Q3 2018vs Q3 2017||$5.68B$6.53B|
|Loans||Q3 2018vs Q3 2017||$3.85B$4.49B|
|Deposits||Q3 2018vs Q3 2017||$4.37B$4.62B|
|Equity Capital||Q3 2018vs Q3 2017||$1.15B$1.15B|
|Loan Loss Allowance||Q3 2018vs Q3 2017||$67.1MM$78.0MM|
|Unbacked Noncurrent Loans||Q3 2018vs Q3 2017||$210.0MM$193.7MM|
|Real Estate Owned||Q3 2018vs Q3 2017||$25.5MM$34.1MM|
Always verify rates and promotions with the bank or credit union. We are not EmigrantDirect.com; we are a rate comparison website and cannot provide official rates or promotions.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|2.40%||$1k||-||6 Month CD|
|1.50%||$1k||-||60 - 120 Month CD|
|1.00%||$1k||-||16 - 59 Month CD|
EmigrantDirect.com is an Internet only bank and does not have branch locations. Its headquarters is located at 5 East 42nd Street - New York, NY 10017