People's United Bank is headquartered in Bridgeport and is the largest bank in the state of Connecticut. It is also the 43rd largest bank in the nation. It was established in 1988 and as of September of 2019, it had grown to 5,810 employees at 414 locations. People's United Bank has an A+ health rating.
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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)
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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.
Leaving This Bank Today - Horrible!
My old Bank, Belmont Savings, was acquired by People's in August. Today, I tried to make a mobile deposit of $13k in my biz checking account. I was unable to do so because it is over their $10k limit. I had three long phone calls in the last 24 hours with various people at the bank and they will NOT let me make the deposit. I live in Miami, so not near a People's branch. I have made quarterly mobile deposits for this about the last three years at Belmont because my deposit limit was $20k. People's told me they will not honor that old agreement. These guys really suck. Customer service is abysmal. Can't wait to move my money elsewhere.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27334 |
| Year Established | 1988 |
| Employees | 5810 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.07% |
| Return on Equity - YTD | 7.89% |
| Annual Interest Income | $1.41B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $51.82B$43.89B |
| Loans | Q3 2019vs Q3 2018 | $38.59B$32.02B |
| Deposits | Q3 2019vs Q3 2018 | $38.99B$33.48B |
| Equity Capital | Q3 2019vs Q3 2018 | $6.97B$5.95B |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $246.0MM$238.0MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $171.8MM$184.1MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $20.0MM$13.1MM |
