Ivy Bank

Deposits held and insured by Cambridge Savings Bank

Overview / Commentary
1374 Massachusetts Ave
Cambridge, MA 02138
Deposits held and insured by Cambridge Savings Bank

Ivy Bank is a digital banking division of Cambridge Savings Bank which is a Massachusetts state-chartered bank and Member FDIC. Deposits at Ivy Bank and Cambridge Savings Bank are combined for the purpose of calculating FDIC insurance limits (FDIC certificate #17870) and are not separately insured.
Accounts are available nationally, except for California.

My Experience Has Been FINE..!!!!!!!

Posted by: |

I hit a wrong button earlier...so not sure if this is a continuation of a previous review.

But, I've been very pleased with IVY.

They certainly offer VERY competitive rates and I found it very easy to establish an account.

I did not think of their ability to immediately fund my account as "Fraud" (as someone earlier thought). I found it convenient as opposed to setting up "ping" trial deposits immediately..

I do think their web site may be a work in process.

I found some peculiarities ( case sensitive e-mail at login...printing a statement in png verse PDF... obtaining documentation of my beneficiaries for my files) BUT...I'm pretty sure they will work that out.

Their Customer Service was GREAT.

They answer the phone with a real person very quickly, and their agents are professional, efficient, friendly , and genuinely helpful...(what I call "old- timey" banking thru the modern internet).

They are a division of a very old and fine local bank that was a real community service bank.

I wish them continued success for the future. Glad I have access from so far away.

Best Regard...PTF

It All Worked Out!

Posted by: |

I have a solid credit score, but my application needed to be reviewed. I first chatted, and eventually their Call Center called me, and at the end of the day learned it was because of my credit freeze due to unemployment fraud! I worked all that out, and they were able to swiftly approve my application, and I got right in to access my account.

I actually used the pretty neat management tool, and got all my accounts, debits etc., in one image. Depressing, but the feature is awesome! So glad I saw these guys on LendingTree, the rate is the highest in my area at least.

Follow Up To My Issues.

Posted by: |

After my issues with IVY bank and freezing my account on June 29th it took only 5 plus weeks to unfreeze my account. I had many conversations with Erma in customer service and she was great. I do not quite understand this banks policies but they are wrong. I just opened a new account with Brio yesterday which is Webster bank. No issues and was approved in 3 minutes and setup my external transfers this morning and I am funding the account already. Shame on you IVY bank it should have been the same when I joined last month. So choose wisely and people should not run into the issues that I had with IVY bank or the others here too that had problems. This is not rocket science its just banking. I did raise my ratings a bit mostly because of Erma. Thanks

Online System Is A Mess

application for a savings account accepted and funds apparently transferred but unable to complete setting up online banking. Have talked to two of their reps over the past week who were of no help and they are now not returning my calls. Unsure of when this will be worked out or if my funds will be available.



Data as of Q2 2022

Data displayed below is for insuring bank: Cambridge Savings Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #17870
Year Established1834
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.79%
Return on Equity - YTD8.54%
Annual Interest Income$87.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$5.69B$5.24B
LoansQ2 2022vs Q2 2021$4.48B$4.11B
DepositsQ2 2022vs Q2 2021$4.43B$4.45B
Equity CapitalQ2 2022vs Q2 2021$505.2MM$488.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$49.0MM$48.7MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$13.0MM$21.9MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ivy Bank Savings Account Rates

2.70%*$2.5k*$1mHigh-Yield Savings
OTHER TIERS: 0.05% $10 - $2.5k
2.30%*$2.5k*$1mIndexed Savings
OTHER TIERS: 0.05% $10 - $2.5k

Ivy Bank CD Rates

3.25%$1k-3 Year CD
3.00%$1k-1 Year CD
2.60%$1k-5 Year CD

Ivy Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 1374 Massachusetts Ave - Cambridge, MA 02138

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.