Savings Institute Bank & Trust
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 0.05% | Checking | Choice Alliance Checking 0.14% - National Average |
| 1.15% | 5-year CD | 5 Year CD 2.25% - Ally Bank High Yield 5 Year CD |
| 0.25% | 1-year CD | 1 Year CD 1.50% - Ally Bank No Penalty 11-Month CD |
Savings Institute Bank & Trust is headquartered in Willimantic and is the 8th largest bank in the state of Connecticut. It is also the 497th largest bank in the nation. It was established in 1842 and as of June of 2017, it had grown to 272 employees at 24 locations. Savings Institute Bank & Trust has an A health rating.
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Savings Institute Bank: A Great Start
This was the first bank I ever used due to the fact that it was only a block down from where I live. I remember going with my dad to set up the account, but everyone was quite helpful. I just got a basic savings account for a kid with a summer job so I can't go into too much detail about their plans and whatnot. My account had the average interest for a savings account, something like 1% a month. I think there are some locations around CT and in Rhode Island, but according to the website, they aren't a national chain. They also had a coin changer there that was very useful and open to anybody who has an account with them. It's much better than Coinstar or something for large amounts because they don't charge you any fee to use the machine. I don't think they had online banking at the time, but I didn't have a smartphone anyway when I opened the account.
Data as of Q2 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18214 |
| Year Established | 1842 |
| Employees | 272 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.59% |
| Return on Equity - YTD | 5.91% |
| Annual Interest Income | $26.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $1.59B$1.51B |
| Loans | Q2 2017vs Q2 2016 | $1.23B$1.16B |
| Deposits | Q2 2017vs Q2 2016 | $1.21B$1.12B |
| Equity Capital | Q2 2017vs Q2 2016 | $160.7MM$154.2MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $12.1MM$10.6MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $4.7MM$6.7MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $1.0MM$1.2MM |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Savings Institute Bank & Trust Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.53% | - | - | Variable Rate IRA | |
| 0.05% | - | - | Statement Savings |
Savings Institute Bank & Trust Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $100k* | - | Money Market w/ Choice Alliance | ||
| OTHER TIERS: 0.05% → Up to $10k | 0.15% → $10k - $100k | |||||
| 0.25%* | $1m* | $10m | Money Market Special | ||
| OTHER TIERS: 0.05% → Up to $5k | 0.10% → $5k+ | 0.15% → $25k - $50k | 0.20% → $50k - $1mm | |||||
Savings Institute Bank & Trust Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | $500 | - | Choice Alliance Checking |
Savings Institute Bank & Trust CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.65% | $500 | $500k | 17 Month CD Special with Choice Alliance or Cash Back Checking | |
| 1.40% | $500 | $500k | 17 Month CD Special without Choice Alliance or Cash Back Checking | |
| 1.21% | $500 | - | 6 Year CD | |
| 1.15% | $500 | - | 5 Year CD | |
| 1.10% | $500 | - | 4 Year CD | |
| 0.75% | $500 | - | 3 Year CD | |
| 0.45% | $500 | - | 2 Year CD | |
| 0.30% | $500 | - | 18 Month CD | |
| 0.25% | $500 | - | 1 Year CD | |
| 0.20% | $500 | - | 6 Month CD | |
| 0.15% | $500 | - | 3 Month CD |
