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Overview / Commentary
251 Church Street
Naugatuck, CT 06770

Ion Bank is headquartered in Naugatuck and is the 11th largest bank in the state of Connecticut. It is also the 627th largest bank in the nation. It was established in 1870 and as of June of 2016, it had grown to 237 employees at 23 locations. Ion Bank has a B+ health rating.

Reviews (2)

Poor Security Controls

I had an ATM card from Ion Bank and only use it at their ATM machine and 2 times at CVS. I went to view my checking account on line and found over 30 charges to google kiloo games. I was never notified by Ion of these charges. Any other credit debit card would alert you since it was all very suspisious. I found it out myself by accident. When I asked Ion bank why their security didn't alert me, their response was "it happens all the time," meaning it is common for bank accounts to be hacked into. I put a stop to my card and later received a new one with a pin no., then 2 days later I received another ATM card and pin. I went to the bank upset that they can't assure me that my savings will not be hacked into and why 2 ATM cards? The banker was insulting and haughty, minimizing a major security issue and turned around to say " your son got into your account, he did it." like it's your issue not the banks. well my son is my foster child and I never revealed that information to that banker. The bank officer i went to Must have discussed this with others and assumed it was my foster child, which it was not. I'm pulling my money out of Ion, I don't feel my accounts are safe especially with such ignorant, unprofessional staff. These were not tellers these were managers. Goodbye Ion, another bank is opening up down the street.

Customer Service And Executives

Naugatuck Savings Bank is a small bank whom struggles with being the 700th largest bank in the US and it shows.  Customer service, if rated would receive 2 out of 10 because out of 10 reps in the call center, only 2 are superstars.  Once you reach the executive level, they don't care, they only care about their personal agendas and paychecks.

I would not recomment Naugatuck Savings Bank to anyone, not even my worse enemy


Health Grade Components

FDIC Certificate #18198
Year Established1870
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.57%
Return on Equity - YTD6.99%
Annual Interest Income$19.7MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$1.16B$1.05B
LoansQ2 2016vs Q2 2015$947.1MM$863.6MM
DepositsQ2 2016vs Q2 2015$914.9MM$845.9MM
Equity CapitalQ2 2016vs Q2 2015$94.2MM$92.9MM
Loan Loss AllowanceQ2 2016vs Q2 2015$12.6MM$12.4MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$13.4MM$12.0MM
Real Estate OwnedQ2 2016vs Q2 2015$330.00K$384.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ion Bank Savings Account Rates

0.40%*$50k*-Ka-Ching! Savings
OTHER TIERS: 0.10% $50 - $2,500 | 0.25% $2,500 - $50k
0.25%*$5k*-Health Savings Account (HSA)
OTHER TIERS: 0.05% $50 - $1k | 0.20% $1k - $5k
0.20%*$50k*-Passbook Savings
OTHER TIERS: 0.05% $50 - $2,500 | 0.10% $2,500 - $50k
0.20%*$50k*-Statement Savings
OTHER TIERS: 0.05% $50 - $2,500 | 0.10% $2,500 - $50k

Ion Bank Money Market Rates

0.30%*$250k*-Money Market Accounts
OTHER TIERS: 0.05% Up to $10k | 0.15% $10k - $50k | 0.25% $50k - $250k

Ion Bank Checking Account Rates

0.08%*$10k*-Preferred Checking
OTHER TIERS: 0.02% $50 - $1k | 0.05% $1k - $10k

Ion Bank CD Rates

1.25%$500-15 Month CD
1.20%$500-60 Month CD
1.10%$500-48 Month CD
1.04%$500-36 Month CD
1.00%$500-7 Month CD
0.55%$500-30 Month CD
0.50%$500-18 Month CD
0.50%$500-24 Month CD
0.35%$500-12 Month CD
0.20%$500-9 Month CD
0.15%$500-6 Month CD
0.10%$500-3 Month CD

Ion Bank IRA Rates

1.25%$500-15 Month IRA
1.20%$500-60 Month IRA
1.10%$500-48 Month IRA
1.04%$500-36 Month IRA
1.00%$500-7 Month IRA
0.73%$500-18 Month Variable IRA
0.55%$500-30 Month IRA
0.50%$500-18 Month IRA
0.50%$500-24 Month IRA
0.35%$500-12 Month IRA
0.20%$500-9 Month IRA
0.15%$500-6 Month IRA
0.10%$500-3 Month IRA

Ion Bank has 18 locations. Click to view all Ion Bank locations.