I absolutely love this bank! Opening the 3.5% savings account was effortless. The next day, I called and a wonderful young lady answered the phone, immediately. No waiting! She walked me through the requirements for beneficiary additions, we downloaded the app, I registered for online banking, all with her on the phone coaching (not that I needed it but, wow, talk about customer service).
I linked my Fitbit to the app, and all my steps and average for the month came through. I average quite a bit more than 12,500 a day, so this is not very challenging and I consider it a nice reward.
Go Fitness Bank! And thank you -again- Kevin for this amazing site!
If you are active and achieve 12,500 steps a day, this can be for you. If you don't, why complain about this bank? This is their entire premise. Don't say it's a scam. It's just not your life, which is fine. It doesn't mean it isn't other people's lifestyle.
It's like saying don't have marathons because who runs that many miles. Don't do it if this isn't who you are. Easy.
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.
|FDIC Certificate #||29510|
|Return on Assets - YTD||0.8%|
|Return on Equity - YTD||6.77%|
|Annual Interest Income||$20.6MM|
|Assets and Liabilities|
|Assets||Q2 2023vs Q2 2022||$876.7MM$766.4MM|
|Loans||Q2 2023vs Q2 2022||$654.0MM$614.4MM|
|Deposits||Q2 2023vs Q2 2022||$739.0MM$633.1MM|
|Equity Capital||Q2 2023vs Q2 2022||$104.0MM$102.5MM|
|Loan Loss Allowance||Q2 2023vs Q2 2022||$9.3MM$9.0MM|
|Unbacked Noncurrent Loans||Q2 2023vs Q2 2022||$6.2MM$7.0MM|
|Real Estate Owned||Q2 2023vs Q2 2022||$2.9MM$3.5MM|
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