Flagstar Bank

Flagstar Bank


Overview / Commentary
248-312-5400
5151 Corporate Drive
Troy, MI 48098

New York Community Bancorp, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The commercial bank offers deposit accounts, consumer loans and credit cards to individuals, as well as cash management services to businesses.

As far as deposit accounts, the bank offers checking, savings, and Money Market accounts, as well as Certificates of Deposit (CDs) and IRA CDs. Checking account options are numerous and include a simple checking account that comes with a Visa debit card, a free annual investment review, and unlimited check writing. The simple checking account also comes with preferred CD rates when higher balances are maintained. The bank has University of Michigan-themed checking accounts as well as other interest bearing checking accounts that come with the cost of monthly service fees, which can be avoided by meeting certain requirements. All of the savings accounts offerings come with free ATM transactions at qualifying machines, online and telephone banking, and a free spending review service. A simple savings account is available and comes with a monthly service fee that can be waived by opening a checking account. Money Market accounts at the bank offer higher interest rates for higher balances and come with a Visa debit card. Certificates of Deposit (CDs) have a low minimum balance to open and are available in term lengths ranging from 30 days to 120 months.

Flagstar is also part of the CDARS network, giving large deposit investors a convenient way to find the best CDs for their funds while maintaining FDIC insurance coverage. The bank also offers government banking solutions that help government entities manage public sector funds.

Flagstar Bank online banking provides a web-based platform for account management tasks like Bill Pay, budget tracking, reward account management, and fund transfers. The system also provides Intuit financial management tools to help track expenses and plan out personal finances. Mobile banking is also available for customers to use through smartphone and tablet apps.

Flagstar Bank was originally established in 1987 as the First Security Savings Bank. In 1996 it transitioned to its current name, and four years later moved to its current headquarters in Troy, Michigan. Over a hundred branches are operated across the state of Michigan, where Flagstar focuses its business.

Related Posts

Flagstar Savings Plus Drops To Same As MBD Hi-Yield Savings - 5 Month Guarantee Falls To 5.35%. - 8/4/2024

Was 5.55% previously. $25k minimum as before to earn 5.35. https://www.flagstar.com/personal/bank/savings/flagstar-savings-plus.html

Flagstar Savings At 5.55% APY With $25,000+ Balance, 5 Month Guarantee - 7/4/2024

$15 monthly service charge, waived with $10,000 average daily balance OR with a Flagstar personal checking account. And after five months the current tiered interest rate maxes out at 2% APY for $100,000 and above. If your account is closed within six months of opening, you are subject to a $30 early closing fee and possible forfeiture of any interest you’ve earned on the account.need to bring new $

5.15% 7 Month CD... - 6/24/2024

Rate Was 5.50%...Rate Now 5.15%...

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2/15/15 - 1.10% APY High Yield Savings Account - Flagstar Bank - Michigan Residents Only
10/3/14 - CFPB Hits Flagstar Bank With First Servicer Rule Enforcement
6/11/14 - Flagstar Bank Improves Savings Account Promotion - Michigan Only
4/4/14 - Another Michigan Savings Account Promotion at Flagstar Bank
5/21/13 - Flagstar Bank’s Savings Account Promotion in Michigan
6/7/12 - Top Savings & Money Market Rates with Rate Guarantees
11/30/11 - Flagstar Bank's Savings Account Promotion
2/18/11 - $25 Referral Bonus At Flagstar Bank
12/21/10 - Checking Account Promotion Continues at Flagstar Direct - Available Nationwide
9/17/10 - Checking Account Promotion at Flagstar Direct - Available Nationwide
8/8/10 - Checking, CD and Savings Account Promotions at Flagstar Bank
7/19/10 - Competitive 6-Month & 1-Year CD Rates at Flagstar Direct - Available Nationwide
5/25/10 - CD, Savings & Checking Account Promotions at Flagstar - Available Nationwide
4/18/10 - Checking Account Promotions at Flagstar Bank - GA, MI & IN Only
1/14/10 - Flagstar Bank Launches New Internet Website
1/14/10 - Flagstar's New Online 5.30% Money Market Account
12/17/09 - Flagstar Internet Money Market Rate Plummets and Is No Longer Competitive
12/12/09 - 2.00% Checking Account with Rate Guaranteed for One Year at Flagstar Bank - GA, MI & IN Only
11/12/09 - Flagstar's Online Money Market Promotion - Available Nationwide
8/15/09 - 2.00% Checking Account with Rate Guaranteed for One Year at Flagstar Bank
7/13/09 - $100 Checking Account/Direct Deposit Bonus at Flagstar Bank
6/14/09 - 2.00% Checking for One Year or $100 Checking/DD Bonus at Flagstar Bank - GA, MI, IN Only
2/12/09 - 3.25% 9-Month CD at Flagstar Bank - Nationally Available
2/5/09 - 4.50% 48-Month Online CD at Flagstar Bank
1/2/09 - $100 Checking Account/Direct Deposit Bonus at Flagstar - Update
11/4/08 - Money Market Account Promotion at Flagstar Bank in Michigan - 4% for 12 Months
9/11/08 - 5.10% 48-Month Online CD at Flagstar Bank
7/22/08 - $100 Checking Account/Direct Deposit Bonus at Flagstar
6/15/08 - 10% 6-Month CD ($2.5K Max) Continues at Flagstar Bank
4/27/08 - 10% 6-Month CD ($2.5K Max) and Other Promos and News at Flagstar Bank
3/10/08 - Update on $100 Checking Account Bonus at Flagstar Bank
1/27/08 - $100 Checking Account Bonus with DD at Flagstar Bank
9/1/07 - 7.30% 12-Month CD at a Georgia Bank - $2.5k Max (Flagstar)
6/18/07 - 5.50% 14-Month CD at an Indiana/Michigan/Georgia Bank (Flagstar)
5/21/07 - $100 Checking Account Bonus at Flagstar Bank Continues
3/16/07 - $100 Checking Account Bonus at GA/IN/MI Bank (Flagstar)
2/19/07 - 10% 6-Month CD at an IN/MI/GA Bank Continues - $2.5K Max (Flagstar)
1/7/07 - 10% 6-Month CD at an Indiana/Michigan/Georgia Bank Continues - $2.5K Max (Flagstar)
11/21/06 - 10% 6-Month CD at an Indiana/Michigan/Georgia Bank - $2.5K Max (Flagstar)
2/8/06 - $100 / $25 Checking Account Bonuses at Two Indiana Banks

Don't Exceed The FDIC Limit

Posted by: |

People, I've been with Flagstar and My Banking Direct ever since they topped the chart with 5.55% interest. Had to go with the flow and ended up with 6 months at Flagstar with the first 5 months at 5.55% guaranteed, then undecided rate on the last month. I rated them 5 stars because of this, but if you read their health report closely and check their Texas Ratio closely you will see they are a SEVERE threat to fold. Just wanted to warn those like me, take it while it's good but DON'T exceed the FDIC limit!

Been With Flagstar For Years

I have been with Flagstar for about 8 years and have never had an issue... well, other than thoer website being very slow. They have one of the highest and sometimes THE HIGHEST interest rate on savings and CD's. I can easily transfer money in and out of my account online and even set up scheduled transfers. I also like that their CD's do not automatically renew, so I don't have to worry about missing the window to transfer the funds like I have with other banks.

NYCB / Flagstar / My Banking Direct

I’ve had 2 certificate of deposits (CD’s) with NYCB / flagstar and both times I tried to get the money back, after maturity - the first time it took over a month to get a check in the mail, and now, the 2nd time in over 2 weeks in and getting the runaround through there in house message system - DO NOT get drawn in to there big savings rates, unless you live near there banks in New York and Michigan we’re the bank has branches To go into - I live out of state and doing business with them by mail is IMPOSSIBLE - avoid at all cost

How I Was Able To Recover My Money Back

Oh my goodness, it seems unbelievable but I just got my deposit back with the help of Rose, she is very reliable. At first I thought it was not possible and that it was a scam, but to my world I got my money back in less than 72 hours. Am so happy, Contact::
 WHATSAPP:: +1 _(_9_2_0_)_ _7_1_4_ _7_7_7_6
EMAIL:: r o s e h o o v e r 9 0 @ g m a i l . c o m

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Health
C-
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Flagstar Bank has a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #32541
Year Established1987
Employees8463
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-1.05%
Return on Equity - YTD-13.27%
Annual Interest Income$3.06B
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$119B$118.7B
LoansQ2 2024vs Q2 2023$81.13B$84.88B
DepositsQ2 2024vs Q2 2023$79.68B$88.63B
Equity CapitalQ2 2024vs Q2 2023$8.99B$11.87B
Loan Loss AllowanceQ2 2024vs Q2 2023$1.27B$594.5MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$1.95B$235.3MM
Real Estate OwnedQ2 2024vs Q2 2023$6.5MM$6.8MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Flagstar Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Flagstar Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%*$25k*-Promo Flagstar Performance Savings - New Money
OTHER TIERS: 0.10% $0 - $25k

Flagstar Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.65%$500$10m7 Month CD Special - New Money
4.35%$500$10m13 Month CD Special - New Money
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