Piedmont Federal Savings Bank

Overview / Commentary
201 South Stratford Road
Winston Salem, NC 27103

Piedmont Federal Savings Bank is headquartered in Winston Salem and is the 14th largest bank in the state of North Carolina. It is also the 1,020th largest bank in the nation. It was established in 1903 and as of June of 2021, it had grown to 118 employees at 10 locations. Piedmont Federal Savings Bank has an A+ health rating.

Reviews (2)

Just Like The Good Old Days

Posted by: |

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.


Posted by: |


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 Grade Components

FDIC Certificate #27619
Year Established1903
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.24%
Return on Equity - YTD0.97%
Annual Interest Income$13.1MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$949.4MM$892.8MM
LoansQ2 2021vs Q2 2020$584.9MM$552.9MM
DepositsQ2 2021vs Q2 2020$712.4MM$656.6MM
Equity CapitalQ2 2021vs Q2 2020$233.6MM$232.6MM
Loan Loss AllowanceQ2 2021vs Q2 2020$1.6MM$1.4MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$890.00K$936.00K
Real Estate OwnedQ2 2021vs Q2 2020$38.00K$0
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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

0.25%*-$2.5kPF Start Savings
OTHER TIERS: 0.05% $2.5k+
0.25%*-$2.5kPF Go Savings
OTHER TIERS: 0.05% $2.5k+
0.25%--Companion Deposit Account (CDA)
0.10%--PF BusinessSavings
0.05%--Statement Savings

Piedmont Federal Savings Bank Money Market Rates

0.25%*$500k*-Money Market Account
OTHER TIERS: 0.05% $2.5k - $25k | 0.10% $25k - $250k | 0.15% $250k - $500k
0.25%*$500k*-PFBusinessMarket Account
OTHER TIERS: 0.05% $2.5k - $25k | 0.10% $25k - $250k | 0.15% $250k - $500k

Piedmont Federal Savings Bank Checking Account Rates

0.05%--PF BusinessChoice

Piedmont Federal Savings Bank CD Rates

0.60%$500-60 Month CD
0.50%$500-19 Month CD
0.30%$500-48 Month CD
0.25%$500-36 Month CD
0.20%$500-24 Month CD
0.20%$500-30 Month CD
0.15%$500-18 Month CD
0.10%$500-9 Month CD
0.10%$500-12 Month CD
0.05%$500-3 Month CD
0.05%$500-6 Month CD

Piedmont Federal Savings Bank IRA Rates

0.60%$100-60 Month Fixed IRA
0.30%$100-48 Month Fixed IRA
0.20%$100-30 Month Fixed IRA
0.15%$100-18 Month Fixed IRA
0.10%$100-12 Month Fixed IRA
0.05%$100-6 Month Fixed IRA

Cities: Boone, Clemmons, High Point, Kernersville, North Wilkesboro, Winston Salem

Boone Branches
Boone Branch1399 Blowing Rock RoadBoone, NC 28607

Clemmons Branches
Clemmons Branch3701 Clemmons Rd.Clemmons, NC 27012

High Point Branches
Piedmont Federal Savings Bank-Pallad3870 John Gordon LaneHigh Point, NC 27265

Kernersville Branches
Kernersville Branch505 Pineview DriveKernersville, NC 27284

North Wilkesboro Branches
North Wilkesboro Avenue Branch200 Wilkesboro AvenueNorth Wilkesboro, NC 28659

Winston Salem Branches
Southpark Branch1040 Southpark BoulevardWinston Salem, NC 27127
Downtown Branch16 West Third StreetWinston Salem, NC 27101
Piedmont Federal Savings Bank201 South Stratford RoadWinston Salem, NC 27103
Peace Haven Branch2095 Peace Haven RoadWinston Salem, NC 27106
Hanes Mill Branch5189 Northern Quarters DriveWinston Salem, NC 27105

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