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 June of 2020, it had grown to 6,115 employees at 420 locations. People's United Bank has an A+ health rating.
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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.
Overdraft Fees For Payments That Were Never Returned
Was wondering if anyone else has experienced PUB claiming a large payment has been returned, only to find the place you paid it to received and processed the payment with no problems or returns. This has happened to me twice in the last two months with Cox and a credit card, who both insisted the payments were made, as reflected in my online receipts and accounts. The reps at PUB insist these were returned, and twice I had to plead to excuse overdraft fees that should not have happened. Remember, overdrafts are a multi-billion dollar industry.
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27334 |
| Year Established | 1988 |
| Employees | 6115 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.77% |
| Return on Equity - YTD | 5.94% |
| Annual Interest Income | $973.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $61.27B$51.38B |
| Loans | Q2 2020vs Q2 2019 | $45.10B$38.37B |
| Deposits | Q2 2020vs Q2 2019 | $50.21B$39.83B |
| Equity Capital | Q2 2020vs Q2 2019 | $7.83B$6.95B |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $414.0MM$244.0MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $294.3MM$190.1MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $12.2MM$8.7MM |
