Radius Bank

Overview / Commentary
1 Harbor St, Ste 102
Boston, MA 02210

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

Radius Bank Ups High-Yield Savings Rate - 9/1/2018

Radius Bank has raised the top APY on its nationally available High-Yield Savings to 1.96% APY ($25k+). The other rate tiers remained unchanged.

Radius Bank Boosts High-Yield Savings Rate - 5/23/2018

Radius Bank raised the rate on its nationally available High-Yield Savings: 1.86% APY ($25k+), 1.50% APY ($2.5k+), and 0.05% APY ($10+). Min opening deposit is $100.

High Yield Savings, 1.86%, $25K+ - 5/22/2018


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This is the perfect online bank

I was once a member of a traditional bank but the hidden and monthly fees really annoyed me. Since I only needed a bank to deposit my wages into and take out as needed by means of a debit card, the traditional bank was a waste of money. While on Google, I came across Radius Bank. Wow! This bank is exactly what I need. They give you the option of how much you want to donate each month for their service and they stick by it. I haven't been charged one penny more than I should have. They supply a debit card that is attractive and easy to use. They offer the ability to purchase checks, but because I pay everything online, it was not necessary for me. The one and only time I had a question, I was able to quickly and easily connect to customer service and my problem was resolved in less than an hour.

Great online experience

I have been a customer of Radius bank for a couple of years now. Honestly, my point of using bank was only because I liked the savings account yield as compared to other banks, both brick and mortar and online. It has some of the highest savings account rates available today. As a virtual bank, my experience with customer service has been minimal. Once I signed up I got a notice of approval and an ATM card in the mail. Since then my interaction have been, well, entirely virtual. I have had no problems with any of my virtual interactions with the bank, if that counts as customer service. Only one negative I ever noticed and that was they limit how much you can put in at once as a new customer. So, if your purpose is to quickly move money to get a higher yield right away, you will have to wait sometime before significant money can be moved.

Customer Service Is A Joke

Opening an account was difficult and obtaining debit cards for myself and a joint account holder was frustrating as they claimed we were only to receive one card for the account listing only my name. It took multiple phone calls and weeks before this was straightened out. My initial opening deposit was not immediately credited to the account and took multiple phone calls to rectify. They claim the first order of checks is free but attempting to order them is nearly impossible. Messages to customer service tell you that you can order them on the web site. Attempting to order on the web site says to order them through the financial institution. I tried calling customer service at the number on their site and was told to call the bank, which I thought I had. After explaining this to the person and confirming I had called the bank's phone number I was told to call back during normal business hours. Since I had called during the hours listed on the contact page, I needed clarification as to what normal business hours were and was told Monday-Friday.

Radius Bank: Excellent Customer Service

I have been banking with Radius bank for many years now. I highly recommend their services and have no plans to change banks in the future. The best thing about Radius is the customer service. They are very understanding and flexible. I'll give a quick example: a few years ago I was going through a more difficult financial period. Once I accidentally over drafted my checking account. Radius was very helpful when it came to dealing with this unfortunate situation. They helped me set up my services so that it would not happen again in the future and patiently explained all of the available options. The bottom line is that Radius bank will give you customer service above and beyond a standard bank. From someone like me, that is an incredibly valuable asset to have.

If you're looking for a new bank and you are considered joining Radius, I would give them a thumbs up as a customer. Honest, helpful, easy to use bank services that you can trust. Definitely the best bank I have ever used.



Health Grade Components

FDIC Certificate #32551
Year Established1987
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD9.32%
Annual Interest Income$49.2MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$1.26B$1.14B
LoansQ4 2018vs Q4 2017$934.2MM$788.9MM
DepositsQ4 2018vs Q4 2017$1.10B$954.4MM
Equity CapitalQ4 2018vs Q4 2017$115.6MM$106.8MM
Loan Loss AllowanceQ4 2018vs Q4 2017$7.6MM$6.6MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$11.2MM$10.8MM
Real Estate OwnedQ4 2018vs Q4 2017$0$0
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Always verify rates and promotions with the bank or credit union. We are not Radius 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.

Radius Bank Savings Account Rates

2.05%*$25k*-Radius High-Yield Savings
OTHER TIERS: 0.05% $10 - $2.5k | 1.50% $2.5k - $25k
0.05%$50-Statement Savings

Radius Bank Money Market Rates

0.10%*$10k*-Retail Money Market
OTHER TIERS: 0.05% $10 - $10k

Radius Bank Checking Account Rates

1.20%*$100k*-Radius Hybrid Checking
OTHER TIERS: 1.00% $2.5k - $100k
0.75%$10k-Tailored Checking
0.50%$2.5k-Superhero Checking
0.01%$1k-Rewards Checking

Radius Bank CD Rates

2.20%$500-5 Year CD
1.95%$500-4 Year CD
1.85%$500-3 Year CD
1.70%$500-2 Year CD
1.60%$500-18 Month CD
1.55%$500-1 Year CD
1.25%$1k-9 Month CD
0.95%$1k-6 Month CD
0.85%$1k-3 Month CD

Radius Bank Locations
First Trade Union Bank1 Harbor St, Ste 102Boston, MA 02210

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