Ion Bank is headquartered in NAUGATUCK and is the 6th largest bank in the state of Connecticut. It is also the 549th largest bank in the nation. It was established in 1870 and as of March of 2023, it had grown to 306 employees at 24 locations. Ion Bank has a B+ health rating.
Customer Service
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
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
Data as of Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18198 |
| Year Established | 1870 |
| Employees | 306 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.97% |
| Return on Equity - YTD | 11.4% |
| Annual Interest Income | $21.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $2.08B$1.81B |
| Loans | Q1 2023vs Q1 2022 | $1.42B$1.11B |
| Deposits | Q1 2023vs Q1 2022 | $1.75B$1.57B |
| Equity Capital | Q1 2023vs Q1 2022 | $180.7MM$154.2MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $17.8MM$16.1MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $12.6MM$6.5MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $5.0MM$4.7MM |
