New Buffalo Savings Bank

Overview / Commentary
45 North Whittaker St
New Buffalo, MI 49117

New Buffalo Savings Bank is headquartered in New Buffalo and is the 72nd largest bank in the state of Michigan. It is also the 3,778th largest bank in the nation. It was established in 1921 and as of December of 2019, it had grown to 32 employees at 3 locations. New Buffalo Savings Bank has a B health rating.

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Reviews (5)

Easy Account Opening Process

Posted by: |

Account setup was smooth and the customer service representative that helped open my account was very responsive.

I used one of the referral links posted here to get a $50 Amazon Gift Card for opening an account. I am passing my referral link along:

If you use this link when opening an account, you get a $50 Amazon Gift Card and I get one for the referral.


Great Banking Experience So Far

Hi all,

My account opening process was quite smooth, and the customer rep who contacted me over phone was very efficient. Hope your experience is the same!


Friendly At First -- But Then The Bank Backtracked.

The reward checking account rate here WAS one of the best in the country and customer service WAS great -- UNTIL TODAY. Today the bank sent us all a notice that as of mid-December they are LOWERING the maximum deposit earning the reward rate of 2.25% from $25,000 to $15,000. Which greatly lowers the interest derived from the account. AND, the bank now expects not just 12 debit card uses, but also expects this to be the customer's primary bank, meaning MORE DEBIT USES THROUGH MORE OF THE MONTH AT A WIDE VARIETY OF PLACES FOR SUBSTANTIAL SUMS. This is fine if you are a local depositor. who wants a local account for all one's money needs But it's not what many of the national depositors such as myself were looking for. Many of our colleagues on this blog have had their accounts abruptly closed at such banks when the debit card was not used as extensively as the bank wanted. So: NATIONAL DEPOSITORS, i now have to discourage you from using this bank, unless it's going to be your major account -- and even then the $15000 limit is hardly worth the effort.

Limited To 5 States.

must be a resident of Indiana, Michigan, Ohio, Illinois, or Wisconsin.

Really Bad Customer Service

Posted by: |

Really bad, rude and arrogant customer service. Not worth parking your money here. There are also hidden clauses that could drive your rate close to zero.


Health Grade Components

FDIC Certificate #31257
Year Established1921
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.71%
Return on Equity - YTD5.46%
Annual Interest Income$5.0MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$116.8MM$119.5MM
LoansQ4 2019vs Q4 2018$84.8MM$90.2MM
DepositsQ4 2019vs Q4 2018$95.7MM$99.3MM
Equity CapitalQ4 2019vs Q4 2018$15.9MM$15.0MM
Loan Loss AllowanceQ4 2019vs Q4 2018$964.00K$1.1MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$0$2.0MM
Real Estate OwnedQ4 2019vs Q4 2018$2.3MM$193.00K
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Always verify rates and promotions with the bank or credit union. We are not New Buffalo Savings 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.

New Buffalo Savings Bank Savings Account Rates

1.75%*-$100kKasasa Saver
OTHER TIERS: 0.25% $100k+
0.36%$100-Fixed IRA
0.16%$100-Variable IRA
0.04%$100-Statement Savings

New Buffalo Savings Bank Money Market Rates

0.10%$500-Money Market Savings Account

New Buffalo Savings Bank Checking Account Rates

2.27%*-$15kKasasa Cash
OTHER TIERS: 0.25% $15k+
0.10%$500-55 Prime Checking

New Buffalo Savings Bank CD Rates

0.75%$1k-4 Year CD
0.75%$1k-6 Year CD
0.75%$1k-5 Year CD
0.60%$1k-2 Year CD
0.60%$1k-3 Year CD
0.55%$1k-1 Year CD
0.25%$1k-6 Month CD
0.20%$1k-3 Month CD

New Buffalo Savings Bank IRA Rates

1.10%$100-8 Year IRA CD
0.75%$100-4 Year IRA CD
0.75%$100-6 Year IRA CD
0.60%$100-3 Year IRA CD

New Buffalo Savings Bank Locations
New Buffalo Savings Bank, A FSB45 North Whittaker StNew Buffalo, MI 49117
Sawyer Branch6485 Sawyer RdSawyer, MI 49125
Three Oaks Branch6701 West U.S. 12Three Oaks, MI 49128

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