Radius Bank, a leader in community banking, was founded in 1987 by the Massachusetts Carpenters Combined Pension and Annuity Funds (The Funds). In 2006, the Empire State Carpenters’ Pension Fund invested in the Bank as an equity partner. They are a growing institution that currently serves as the trusted advisor to a broad range of clients.
Related Posts
5/23 - Radius Bank Boosts High-Yield Savings Rate
5/22 - High Yield Savings, 1.86%, $25K+
2/28 - Radius Bank Hybrid Checking Account Offering 0.90% APY
9/30/15 - High Yield Savings Rate Raised To 1.10% APY
1/30/15 - Get $50 With Radius Bank Checking With DD
12/18/13 - Another Top Savings Account Rate at First Trade Union Bank
7/8/13 - First Trade Union Bank Login Restriction = No E-Mail!
6/28/13 - First Trade Union Bank Launches Mobile Payment, Updates Checking Bonus
4/10/13 - First Trade Union Bank Updates Checking Account and Bonus
1/3/13 - New $100 Checking Account Bonus at First Trade Union Bank
6/29/12 - $100 Checking Account Bonus at First Trade Union Bank
10/17/11 - Checking Bonus & Other Deals at First Trade Union Savings
I Love My Rewards Checking Account
I have been a Radius Bank customer for about 6 months now and I love them! I opened a Rewards Checking account after hearing about them from a friend. Although I have a few checking accounts, Rewards Checking has become my primary one since I get cash back on almost all my purchases. I haven’t had any problems with my account and their mobile app is very easy to use and helps me manage my money. I would recommend this bank to any one. Overall I am very impressed.
Decent Savings Rates For $25K+ And Good Service
I've been a customer for a couple of years and have been happy with their service. If you have a balance over $25,000, the rates are competitive. However today, 11/5/19, the top rate was decreased to 1.65% APY. So, it was a good run but I'll be moving my money to a higher paying account. Hopefully, rates will go back up soon and I'll return money to my Radius online savings account.
Very Disappointing
I wanted to move my account from WF to more modern bank that recognizes the changes to customer experience brought by ecommerce. It turns out Radius is not really an internet bank.
Opening an account with them was only thing that was easy. I had to contact them via internal messages to configure the most basic services, like online payments, etc. Each time it took 2-3 bus days to get it done.
The mobile app for depositing checks is very inconsistent. It works one day and doesn't work the next. Internal messaging is the only Customer Support method to get anything done. Phone support is horrible. The agent kept me on hold for 25 minutes, after which I was disconnected. He never called me back even though he took my number.
"Chat" is a fake as you can only get FAQ search. No human ever responded to my inquiries.
Time to move on.
Disappointing
I just started working for myself. I still work a full time job, but need the extra income and looking to be able to quit my job. All that being said, I need to have ready access to my finds. I read the stipulations on the account before I opened a business account. I received my very first payment from a client last week and did a mobile deposit on 4/27. I knew it was 2 business day hold time, which was fine because I would have access by the time rent is due. WRONG. After half hour + on chat and a phone call to Customer Service yesterday, still nothing was resolved. I emailed info they requested and they did expedite my information to the correct department to release the hold.
(The hold right now is until 5/5!!) Absolutely unacceptable! Even though they marked the request as "urgent ", no one responded and my account still does not show my funds received
I called again this morning, and the lady told me the bank is closed until Monday and the department dealing with the hold is off til then. So, my rent is due today and I needed that money and now I have to get a small loan to pay my rent until I get MY money. I could have deposited into my personal account and had the money on the same day. I am closing this account as soon I get my money. As much as I don't want to use a "standard" bank, I have no choice at this time.
Data as of Q4 2020
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 32551 |
| Year Established | 1987 |
| Employees | 174 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.35% |
| Return on Equity - YTD | 5.31% |
| Annual Interest Income | $67.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $2.38B$1.39B |
| Loans | Q4 2020vs Q4 2019 | $1.64B$1.07B |
| Deposits | Q4 2020vs Q4 2019 | $1.73B$1.19B |
| Equity Capital | Q4 2020vs Q4 2019 | $133.0MM$122.6MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $13.2MM$8.3MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $10.8MM$9.0MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |