Ion Bank

Overview / Commentary
251 Church Street
Naugatuck, CT 06770

Ion Bank is headquartered in Naugatuck and is the 8th largest bank in the state of Connecticut. It is also the 600th largest bank in the nation. It was established in 1870 and as of June of 2021, it had grown to 269 employees at 23 locations. Ion Bank has a B+ health rating.

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Reviews (5)

Customer Service

Posted by: |

Love the customer service! The tellers are all friendly, very helpful and courteous. We have moved most of our accounts to this bank because of the great service we receive when ever we do business there.

Excellent Service

Posted by: |

Staff (both tellers - in person and new Personal Teller
- as well as the executives) have gone out of their way to support me and the needs of my family. ION bank keeps up with the latest trends in the banking industry. More importantly they are a contributing member of our community. The amount of money and time ION donates back is simply head-and-shoulders above any banks around. Everywhere you look in our community ION has donated money to non-profits such as youth sports and organizations as well as their staff volunteering to coach or help run an event.

Terrible Bank

Cannot recommend this bank to anyone . They cannot afford to give their customers deposit tickets or receipts . Their teller staff is the most incompetent of any bank in this state . Every time a simple question can not be answered the tellers always mess up my deposits and call me later in the day asking me all sorts of questions . Computers are always breaking and having problems Very unprofessional stay away . Also there advertising is the worse looks like its for children . Don’t know how this bank stays in business it’s a joke

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 - YTD0.88%
Return on Equity - YTD11.22%
Annual Interest Income$26.1MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$1.77B$1.63B
LoansQ2 2021vs Q2 2020$1.19B$1.31B
DepositsQ2 2021vs Q2 2020$1.53B$1.39B
Equity CapitalQ2 2021vs Q2 2020$140.6MM$120.1MM
Loan Loss AllowanceQ2 2021vs Q2 2020$15.9MM$16.0MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$16.6MM$12.6MM
Real Estate OwnedQ2 2021vs Q2 2020$0$0
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Always verify rates and promotions with the bank or credit union. We are not Ion 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.

Ion Bank Savings Account Rates

0.10%*$50k*-Ka-Ching! Savings
OTHER TIERS: 0.05% $50 - $2.5k | 0.08% $2.5k - $50k
0.05%*$50k*-Passbook Savings
OTHER TIERS: 0.02% $50 - $2.5k | 0.03% $2.5k - $50k
0.05%*$50k*-Statement Savings
OTHER TIERS: 0.02% $50 - $2.5k | 0.03% $2.5k - $50k
0.05%*$5k*-Health Savings Account
OTHER TIERS: 0.02% $50 - $1k | 0.03% $1k - $5k

Ion Bank Money Market Rates

0.10%*$250k*-Money Market Accounts
OTHER TIERS: 0.02% Up to $10k | 0.08% $10k - $250k

Ion Bank Checking Account Rates

0.05%*$10k*-Preferred Checking
OTHER TIERS: 0.03% $1k - $10k

Ion Bank CD Rates

0.30%$500-60 Month CD
0.30%$500$250k28 Month Triple Option CD
0.25%$500-48 Month CD
0.20%$500-30 Month CD
0.20%$500-36 Month CD
0.20%$500$250k13 Month CD
0.15%$500-24 Month CD
0.10%$500-6 Month CD
0.10%$500-9 Month CD
0.10%$500-12 Month CD
0.10%$500-18 Month CD
0.05%$500-3 Month CD

Ion Bank IRA Rates

0.30%$500-60 Month IRA
0.30%$500-18 Month Variable IRA
0.25%$500-48 Month IRA
0.20%$500-30 Month IRA
0.20%$500-36 Month IRA
0.20%$500$250k13 Month IRA
0.15%$500-24 Month IRA
0.10%$500-6 Month IRA
0.10%$500-9 Month IRA
0.10%$500-12 Month IRA
0.10%$500-18 Month IRA
0.05%$500-3 Month IRA


Hartford Area

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