I signed up a month ago because the 2.75% rate was materially higher than other banks. The process was very easy to set up online and I was able to link my Fidelity, Vanguard and B&M bank accounts very easily. The website and App are efficient and easy to use.
The only caveat is that you need to average 12,500 steps per day over a month to earn the highest rate. The Bank has a separate App that syncs with your Fitbit, Apple Watch or other fitness tracker.
I am very pleased so far and I hope that Fitness Bank maintains its competitive rate advantage.
I'm a reasonably active person, so I bought a Fitbit to see if I average enough steps to net me a nice interest rate. I spent a week watching my steps and then went to open an account and discovered that sometime during that week the bank stopped taking on new customers.
So I spent north of $100 on the device and I can't open an account with the bank... Total gain: -$115.
That was about 6 weeks ago.
|FDIC Certificate #||57264|
|Return on Assets - YTD||0.76%|
|Return on Equity - YTD||7.22%|
|Annual Interest Income||$10.2MM|
|Assets and Liabilities|
|Assets||Q3 2019vs Q3 2018||$328.1MM$292.1MM|
|Loans||Q3 2019vs Q3 2018||$254.4MM$228.1MM|
|Deposits||Q3 2019vs Q3 2018||$251.4MM$209.3MM|
|Equity Capital||Q3 2019vs Q3 2018||$33.5MM$30.3MM|
|Loan Loss Allowance||Q3 2019vs Q3 2018||$2.8MM$2.8MM|
|Unbacked Noncurrent Loans||Q3 2019vs Q3 2018||$76.00K$175.00K|
|Real Estate Owned||Q3 2019vs Q3 2018||$1.4MM$1.6MM|
This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.
Rates for FitnessBank are currently being reviewed.
FitnessBank is an Internet only bank and does not have branch locations. Its headquarters is located at 400 Galleria Parkway SE Suite 900 - Atlanta, GA 30339