People's United Bank is headquartered in Bridgeport and is the largest bank in the state of Connecticut. It is also the 41st largest bank in the nation. It was established in 1988 and as of March of 2020, it had grown to 6,246 employees at 444 locations. People's United Bank has an A+ health rating.
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4/28 - People's United Bank Offers Three Competitive Plus CD Specials
4/23 - 12 Month 1.25% 18 Month 1.50% 60 Month 2.25%
6/21 - RVM Free Rewards Checking Qualification Problem For Period 05/23/2012 And Ending 06/20/2012
5/23 - Peoples United Drops Rate To 2.00% APY - No Courtesy Notice To Customers
2/29 - $50/$50 Refer-A-Friend Promo
1/27 - People's Bank Drops Rate To 2.25% (Was 2.5%) No Courtesy Notice To Customers
9/12/11 - $100 Gas Card Checking Account Promotion at People's United Bank - Northeast Only
3/15/11 - Amazon Kindle Checking Account Bonus at People's United Bank in the Northeast
2/18/10 - Competitive Long-Term CD & Savings Account Available Online at River Bank - MA & NH Only
11/9/09 - No Longer Available: 3.25% Reward Checking Account at a MA/ME Bank (Butler)
6/22/09 - 3.50% Reward Checking Account at a MA Bank (Marlborough Co-Operative)
8/17/07 - 5.55% 6-Month CD at a Massachusetts Bank (Danvers)
6/16/06 - 5.50% 9-Month CD at a Massachusetts Bank
No bounced check fees!
I have been with People's for about 5 years or so. There are times, very few though still times, that I have made a mistake on my account. Whether it was forgetting to subtract a withdrawal or a check. Needless to say, I ended up with a negative balance. I do have money direct deposited every month. And several times they did not charge me a bounced check fee. I know they don't if the negative amount is less than $5.00, but a couple times it was a little over the $5.00 maximum.
Call Center
Have been with Peoples United for about 15yrs. Generally I am pleased however, I have observed that in the last year, the call center is never available and always requires a lengthy wait for a return call from a representative. It appears that with all things, the bottom line is more important than customer service
Fine Print Gets You Every Time
they were advertising a bonus of $300 if you set up direct deposit.....unfortunately you had to have $75000 on deposit to avoid monthly fees of $30. Found this out when I went in with my wife to open the account. Interestingly, I said that I had made a mistake, and the rep told me that I didn't make a mistake, I hadn't been told until I sat down!
I see it as a mistake on my part, but wow, what an admission on their part!
Did not open account.
They Make It VERY Hard To Get Your Money Back Out
I have a 5 year CD renewing with the Greenfield, MA branch of this bank. They sent me a renewal notice with no place to indicate what I wanted to do with the proceeds when it matures, but just stating it would roll over into another 5 year CD.
I emailed and was told they could do nothing until the CD matured and then I could phone. I phoned today to check if this was true and was told they would not move the proceeds of the CD into my checking account at the same institution through a phone call or a secure message sent through their website.
They told me I would have to come to the bank in person when the CD matured and sign a form to move the money into my checking account.
When I explained that I was high risk and did not want to come into the office, they said I could send them a notarized letter. So explain to me how I get a letter notarized without exposing myself to another office????
So I will have to go into their office in person. Let's hope I am able to get there or they will roll over a significant amount of MY money into a 5 yr CD paying nothing.
The person who spoke to me on the phone was quite unpleasant too, and expressed amazement that any bank would let you mail them instructions on how to manage a maturing CD.
Data as of Q1 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27334 |
| Year Established | 1988 |
| Employees | 6246 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.92% |
| Return on Equity - YTD | 7% |
| Annual Interest Income | $509.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2020vs Q1 2019 | $60.21B$47.88B |
| Loans | Q1 2020vs Q1 2019 | $43.97B$35.30B |
| Deposits | Q1 2020vs Q1 2019 | $44.97B$37.26B |
| Equity Capital | Q1 2020vs Q1 2019 | $7.83B$6.54B |
| Loan Loss Allowance | Q1 2020vs Q1 2019 | $341.7MM$240.9MM |
| Unbacked Noncurrent Loans | Q1 2020vs Q1 2019 | $233.9MM$184.6MM |
| Real Estate Owned | Q1 2020vs Q1 2019 | $16.7MM$11.0MM |
