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

High Yield Savings APY Drops To 1.65% From 2.00% - 11/6/2019

Highest rate was previously 2%. Now, per https://radiusbank.com/personal/high-yield-savings/ 1.65% APY on balances of $25K+ 1.25% APY on balances of $2,500-$24,999.99 That's a 0.35% cut--more than the recent 0.25% fed rate trim, and under the upper fed rate target range of 1.75%, so that's no good... And I haven't received an e-mail from the bank as a heads up that this is happening, so, that's pretty no bueno too...

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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

Posted by: |

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.


Posted by: |

If I could leave less than 1 star, I absolutely would. Avoid this bank at all costs. Any review of this bank with more than 2 stars has got to be fake or an employee or something.

I have had the supreme misfortune of using this bank for my small business for over one year now (and will be shutting the account this week). I opened it because I needed to open the account while overseas and, I will give them credit for the fact that this was possible. However, since submitting my application, it has been nothing but problems.

There have been numerous, ongoing issues. I'll list the three biggest ones here.

First, the instructions I received to setup online access were wrong. So their system created both a personal and business profile, unbeknownst to me. This meant every time I tried to contact them there was an issue. When we finally figured out what the issue was, it took them weeks to fix it.

Second, I requested a debit card for my employee. It has never worked. She tried to get help but couldn't without my authorization. So after forever on the phone, I was sent an authorization form via DocuSign authorizing the bank to speak to her. She tried to call twice and was told both time that no authorization was on file. So I called and asked them to send a new activation letter and PIN to her - TWICE. No such letters were ever received.

Third, and most recently, I moved my office so I needed to update my mailing address. Long story short, it has taken me HOURS to do this ridiculously simple tasks. I sent several messages via their portal and received "all done" replies and then had an online chat and was told it was fixed. But it wasn't. So I had a second online chat - found out after 30 minutes that I needed to sign a form. They sent the form via DocuSign and I signed it five minutes later. Now, over a month later (and after experiencing issues with my card the whole time) I find out that my address was never updated in their system (though it displays correctly in my online profile).




Health Grade Components

FDIC Certificate #32551
Year Established1987
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.47%
Return on Equity - YTD5.11%
Annual Interest Income$55.0MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.39B$1.26B
LoansQ4 2019vs Q4 2018$1.07B$934.2MM
DepositsQ4 2019vs Q4 2018$1.19B$1.10B
Equity CapitalQ4 2019vs Q4 2018$123.8MM$115.6MM
Loan Loss AllowanceQ4 2019vs Q4 2018$8.3MM$7.6MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$9.0MM$11.2MM
Real Estate OwnedQ4 2019vs Q4 2018$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

0.25%*$25k*-High-Yield Savings
OTHER TIERS: 0.05% $10 - $2.5k | 0.15% $2.5k - $25k
0.05%$50-Union Advantage Savings
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

0.15%*$100k*-Rewards Checking
OTHER TIERS: 0.10% $2.5k - $100k
0.10%$5k-Tailored Checking
0.05%$2.5k-Superhero Checking

Radius Bank CD Rates

0.50%$500-1 Year CD
0.50%$500-18 Month CD
0.50%$500-2 Year CD
0.50%$500-3 Year CD
0.50%$500-4 Year CD
0.50%$500-5 Year CD
0.25%$1k-3 Month CD
0.25%$1k-6 Month CD
0.25%$1k-9 Month CD

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

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