Heritage Bank is headquartered in Spicer and is the 36th largest bank in the state of Minnesota. It is also the 1,662nd largest bank in the nation. It was established in 1964 and as of September of 2019, it had grown to 123 employees at 13 locations. Heritage Bank's savings rates are 3X the national average, and it has an A health rating.
Related Posts
4/19 - Heritage Bank's Nationally Available eCentive Account Rate Soars
5/22/09 - Heritage Bank's New Online Savings Account - 4.60%
9/9/06 - Heritage Direct Online Savings Account Now 5.20%
7/6/06 - Heritage Direct Savings Account Now 5.06%
4/15/06 - Heritage Direct Savings Account Now 4.72%
Great Service
Heritage Bank NA is very accommodating. Each RCA account pays up to $25K. Best of all they allow as many accounts as you want. Requirements are any 10 POS and 1 ACH deposit per month.
Wire Transfers
Recently did a wire transfer and ended up having to try it twice and incur 2 fees.
The customer care rep specifically asked me for my 'loan number' which I provided and confirmed. I get a call back saying the transfer did not go through due to incorrect information.
I provided them the wire instructions I had, and the second transfer went through. I feel that I would not be responsible for the first fee due to being asked to provide the 'incorrect' information.
I have called several times, and get answers simply telling me that I was wrong!
edit: 11.27.19 after reaching out to the specific rep I was corresponding with, this person was able to understand and help me out. I truly hope that what I was asking for was not out of reason, and that they could understand why I did not feel responsible for the fee.
A Lot Of Banks Could Take A Lesson From This Bank!
Opening the account was seamless, any questions were answered promptly via landline contact by knowledgeable reps. Furthermore, the reps sounded and acted like they actually care!! Bravo!
Two Months In
No problems opening account. Customer service was great when I had a password problem (my fault). I do have a small concern about security. When I was passed to a second person, she did not verify my identity. Great rate, easy requirements to get the rate. I hope that all the deposits they're getting helps with the health rating of the bank.
Working Well.
Heritage bank is new to this style of account. Opening was a bit rough.
They needed a picture of my driver's license, which I sent, and they lost.
They also lost my opening deposit check so I requested a trial deposit from my ally bank account but they would not let me look at my Heritage account to check the deposit amounts until a deposit was completed! Catch 22.
Have them initiate a deposit from your existing checking account..
Customer service was friendly and it was all straightened out. So far, everything is good.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 19254 |
| Year Established | 1964 |
| Employees | 123 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.93% |
| Return on Equity - YTD | 10.11% |
| Annual Interest Income | $16.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $431.0MM$418.6MM |
| Loans | Q3 2019vs Q3 2018 | $346.3MM$350.3MM |
| Deposits | Q3 2019vs Q3 2018 | $375.0MM$359.2MM |
| Equity Capital | Q3 2019vs Q3 2018 | $41.7MM$38.5MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $4.3MM$5.2MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $6.7MM$13.6MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $343.00K$356.00K |
Always verify rates and promotions with the bank or credit union. We are not Heritage 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.
Heritage Bank Savings Account Rates
Heritage Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 3.03%* | - | $25k | eCentive Account | ||
| OTHER TIERS: 0.15% → $25k+ | |||||
| 0.15% | $1k | - | Legacy Checking | ||
Heritage Bank CD Rates
| Heritage Bank Locations | ||
|---|---|---|
| Heritage Bank National Association | 110 W South St | Spicer, MN 56288 |
| Raymond Branch | 202 Cofield North | Raymond, MN 56282 |
| Pennock Branch | 242 1st Street | Pennock, MN 56279 |
| Willmar Branch | 310 1st Street Sw | Willmar, MN 56201 |
| Sioux City Branch | 4530 Singing Hills Boulevard | Sioux City, IA 51106 |
| 6th Street Branch | 600 Pierce Street | Sioux City, IA 51101 |
| Sioux Falls Branch | 140 N Phillips Ave | Sioux Falls, SD 57104 |