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Overview / Commentary
336-770-1000
201 South Stratford Road
Winston Salem, NC 27103

Piedmont Federal Savings Bank is headquartered in Winston Salem and is the 18th largest bank in the state of North Carolina. It is also the 819th largest bank in the nation. It was established in 1903 and as of September of 2016, it had grown to 122 employees at 10 locations. Piedmont Federal Savings Bank's savings rates are 94% higher than the national average, and it has an A health rating.

Reviews (2)

Just Like The Good Old Days

Posted by: Frogstomp | Apr 19, 2011

Piedmont Federal this a very unusual bank because of its small town feel. The bank has great customer service and terrific attention to detail. The bank reminds one of the way banks related to customers in the good old days.

WORST ... BANK ... EVER

Posted by: e27103 | Jun 15, 2015

WORST BANK EVER.

I'm not sure that I have the space and/or the time to list all of the reasons why you should RUN from this bank.

Was out of town on a trip and attempted to make a purchase using my check card, on a Saturday afternoon. Declined. No reason for it – plenty of funds. Declined. Declined. Declined. Unfortunately, the bank has no weekend customer service, so when you call to get information, all you get is a recording. On Monday when the bank opened, I phoned and received an explanation that there was a ‘problem’ with their systems and they arranged so that anyone attempting to make a purchase for over $100, their systems would reject, until they could fix their systems that Monday morning. Are you kidding? WORSE THAN THIS – this happened again, several months later. The exact same thing. Don’t know about you, dear review reader, but I make a good number of purchases on weekends for over $100 – groceries, bills I pay, etc.

The next issue, related to overdraft fees I incurred as a result of an unauthorized and unexpected withdrawal attempt. Since a good number of my bills had just cleared, the balance in checking that day was low, and the overdraft fee dwindled the account down $35.00 to where a small purchase I did authorize, didn’t clear. Another overdraft fee. I secured proof and proper documentation that the withdrawal was done in error, and the bank manager at Hanes Mill Boulevard in WS REFUSED to refund any fees. “It’s not the Bank’s fault”. Correct, but it wasn’t my fault either. I have experienced similar issues with other banks over the years, and I’ve never been refused a reversal of fees if the matter was not my fault.

Finally, the manager of the branch in Clemmons refused to waive a release of a 4 day hold on an out of state check issued by a trust company in New York, because I had recently incurred NSF’s. Nevermind those NSF’s weren’t my fault. Plus, he was extremely rude and condescending.

These are just the tip of the iceburg of the non-stop issues with this ‘community’ bank that they brag about all over the radio ads. It’s not a service to your community customers when you refuse to think outside of the box and you don’t provide the most basic of customer services.

R U N A W A Y !!!!!!!!!!



Health
A

Health Grade Components

Overall
FDIC Certificate #27619
Year Established1903
Employees122
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.26%
Return on Equity - YTD1.05%
Annual Interest Income$20.0MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$898.6MM$908.7MM
LoansQ3 2016vs Q3 2015$510.7MM$516.8MM
DepositsQ3 2016vs Q3 2015$666.1MM$678.8MM
Equity CapitalQ3 2016vs Q3 2015$225.8MM$223.2MM
Loan Loss AllowanceQ3 2016vs Q3 2015$851.00K$950.00K
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$530.00K$1.4MM
Real Estate OwnedQ3 2016vs Q3 2015$0$70.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Piedmont Federal 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.

Piedmont Federal Savings Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%*-$2,500PF Start Savings
OTHER TIERS: 0.10% $2,500+
1.01%*-$2,500PF Go Savings
OTHER TIERS: 0.10% $2,500+
0.10%$100-Statement Savings

Piedmont Federal Savings Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$50k*-Piedmont Money Market Account
OTHER TIERS: 0.10% $2,500 - $25k | 0.15% $25k - $50k

Piedmont Federal Savings Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$100-NOW Account
0.05%--Easy Access Account
0.05%$100-PF Select

Piedmont Federal Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%$500-48 Month CD
1.01%$500-36 Month CD
0.85%$500-24 Month CD
0.85%$500-30 Month CD
0.75%$500-15 Month CD
0.55%$500-18 Month CD
0.45%$50k-1 Year Flexible CD
0.45%$50k-3 Year Flexible CD
0.45%$100k-12 Month Negotiated CD
0.40%$500-12 Month CD
0.40%$100k-6 Month Negotiated CD
0.35%$500-6 Month CD
0.25%$500-9 Month CD
0.20%$500-3 Month CD

Piedmont Federal Savings Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.40%$100-48 Month Fixed IRA
1.10%$100-30 Month Fixed IRA
1.01%$100-18 Month Fixed IRA
1.01%$100-18 Month Variable IRA
0.75%$100-12 Month Fixed IRA
0.45%$100-6 Month Fixed IRA
Locations


Piedmont Federal Savings Bank Locations
Southpark Branch1040 Southpark BoulevardWinston Salem, NC 27127
Boone Branch1399 Blowing Rock RoadBoone, NC 28607
Downtown Branch16 West Third StreetWinston Salem, NC 27101
North Wilkesboro Avenue Branch200 Wilkesboro AvenueNorth Wilkesboro, NC 28659
Piedmont Federal Savings Bank201 South Stratford RoadWinston Salem, NC 27103
Peace Haven Branch2095 Peace Haven RoadWinston Salem, NC 27106
Reynolda Road Branch2915 Reynolda RoadWinston Salem, NC 27106
Clemmons Branch3701 Clemmons Rd.Clemmons, NC 27012
Kernersville Branch505 Pineview DriveKernersville, NC 27284
Hanes Mill Branch5189 Northern Quarters DriveWinston Salem, NC 27105