Northpointe Bank is headquartered in Grand Rapids and is the 13th largest bank in the state of Michigan. It is also the 617th largest bank in the nation. It was established in 1999 and as of December of 2018, it had grown to 711 employees at 1 location. Northpointe Bank's money market rates are 5X the national average, and it has an A health rating.
Related Posts
11/6 - Northpointe Bank Boosts Ultimate Money Market Rate
10/23 - Ultimate Savings Rate Increase For Jumbo Deposits
7/9 - Ultimate Savings Rate Decrease
5/15 - Northpointe Bank Boosts Ultimate Savings Rate
10/31 - Northpointe Bank Unveils Ultimate Money Market
10/16 - Northpointe Bank Offers Nationally Available 17-Month CD Special
6/13 - NorthPointe Notifies Customers of New Ultimate Checking Requirement
6/13 - Update To Your Ultimateaccount
6/8 - Northpointe Bank Adds Nationally Available 15-Month CD Special
5/8 - Northpointe Bank's UltimateAccount Raises Limit To $10k
5/8 - Northpointe Bank Increases 5% Cap On Ultimate Checking Account To $10,000
1/29/15 - Northpointe Bank’s High-Yield, Low-Cap Reward Checking Account
3/7/12 - Special CDs with Competitive Rates at Northpointe Bank
10/21/10 - Special No-Penalty 3-Year CD at Northpointe Bank - Michigan Only
10/19/10 - 1.40% Money Market Account At Northpoint Bank - Michigan Only
6/18/09 - 2.70% 15-Month CD & 3.00% 23-Month CD at Northpointe Bank in Michigan - Nationally Available
6/3/09 - 3.00% 23-Month CD & 2.65% 11-Month CD at Northpointe Bank in Michigan
Excellent Banking Experience
I have used numerous banks in the past, both internet and bricks & mortar. Northpointe has renewed my faith in customer service. They are so easy to do business with. Everyone I have been associated with there have been above & beyond in professional customer service. I am so thankful that there is still a bricks & mortar bank that offers competitive rates and outstanding customer service. Keep up the excellent performance.
Overall Grade… B -
Opening the Ultimate Money Market Account was easy.
Setting up the bill pay was swift.
Interest rate is relatively high.
The ACH fund transfer speed between banks originating with Northpointe is slow – three days when many banks routinely carry it out in one day.
Customer Service is poor – once logged-in it’s impossible to find a method to contact it. On the bank’s home page there’s a ‘contact your expert’ link – used it to send an email which was never acknowledged or answered.
For A Bank, It's Hard To Get Them Money
I opened an account when their interest rate was 1.50%. I quickly found out it was difficult to get them the money. You have to "push" the money to the account from your other bank. They will not do an ACH between accounts. The browser interface was old, lacking features and didn't show much information. Their mobile offering was the same as my credit union, just rebadged, so I was used to working with it. The mobile app was pretty decent, and made it easy to deposit checks electronically. The biggest issue is when rates go up, your account is locked in. I closed the account when it got to 1.85% and my account was still stuck at 1.50%. I won't be coming back. There are easier/better banks to deal with.
Account Opening Process Is ARCHAIC!
I opened the 2.05% APY Ultimate Savings account yesterday at which time the maximum initial funding limit via an ACH pull into Northpointe is $1,000 I believe. I assumed that once the account was opened I could pull additional funds into the account by setting up the funding account as an "external account" with Northpointe.
Well, you know what happens when you assume! Northpointe does not provide that functionality. The only options are sending in a check, wire the money to Northpointe or ACH the money from the funding account. I bank with Wells Fargo and like all other banks I can think of they have very LOW $ limits on what they allow their customers to ACH OUT of their accounts.
The bottom line is I just closed the Northpointe account the day after I opened it because of their antiquated policies.
Since the 2.05% rate is only available on balances over $25k and they restrict the opening deposit that they do fund via ACH, the customer is forced to either fund by check or wire transfer. An ACH push out of Wells is not an option due to Wells' low $ limits.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34953 |
| Year Established | 1999 |
| Employees | 711 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.19% |
| Return on Equity - YTD | 24.91% |
| Annual Interest Income | $47.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $1.28B$827.6MM |
| Loans | Q4 2018vs Q4 2017 | $1.13B$715.8MM |
| Deposits | Q4 2018vs Q4 2017 | $931.1MM$600.1MM |
| Equity Capital | Q4 2018vs Q4 2017 | $105.5MM$76.8MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $4.4MM$3.9MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $4.5MM$3.3MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $445.00K$667.00K |
Always verify rates and promotions with the bank or credit union. We are not Northpointe 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.
Northpointe Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.05%* | $25k* | - | Ultimate Savings | ||
| OTHER TIERS: 1.12% → Up to $25k | |||||
| 1.50%* | - | $1k | Kid's Savings | ||
| OTHER TIERS: 1.11% → $1k+ | |||||
| 0.50% | - | - | Health Savings Account | ||
Northpointe Bank Money Market Rates
Northpointe Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $100k* | - | Interest Checking | ||
| OTHER TIERS: 0.15% → $2.5k - $25k | 0.25% → $25k - $100k | |||||
| 0.10% | - | - | Business Now | ||
Northpointe Bank CD Rates
| Northpointe Bank Locations | ||
|---|---|---|
| Northpointe Bank | 3333 Deposit Drive Ne | Grand Rapids, MI 49546 |