SFGI Direct

Deposits held and insured by Summit Community Bank (WV)

Overview / Commentary
877-776-9722
300 North Main Street
Moorefield, WV 26836
Deposits held and insured by Summit Community Bank (WV)

Related Posts

SFGI Ups Savings Account APY To 4.26% - 7/14/2023

SFGI Direct bumped its' savings account (rate=4.17%) APY to 4.26% today. Interest is accrued daily and credited to the account monthly.

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10/16/20 - SFGI Direct Cuts Savings Account Rate To 0.67%
8/28/20 - SFGI Savings Slashed To 0.81%
7/15/20 - Savings Rate To 1.01%
7/1/20 - Savings Rate Cut To 1.16%
5/21/20 - Savings Rate Still Holding
5/1/20 - Rate Drops .15% To 1.56% APY
4/23/20 - SFGI Direct Savings Account 1.71% APY [Not on DA Savings List]
3/25/20 - SFGI Direct Lowers Rates .15% To 1.71% APY
2/14/20 - SFGI Direct Lowers Rate .05% - Now 1.86% APY
12/29/19 - SFGI Direct Falls To 1.91% APY
12/6/19 - SFGI Direct Drops To 2.07% APY
1/20/19 - SFGI Direct Ups Savings Account Rate - Almost 10 Years of Top Rates
11/5/18 - SFGI Direct Ups Savings To 2.07% APY
9/8/18 - SFGI Direct Ups Savings Account Rate - Long History of Top Rates
9/7/18 - Rate Hike At SFGI
6/1/18 - SFGI Direct Savings Account Rate Jumps
6/1/18 - SFGI Direct Rate Hike
4/6/18 - SFGI Direct Raises Savings Account Rate
4/6/18 - Direct Savings Account Raised To 1.61% APY
1/26/18 - SFGI Direct Ups Savings Account Rate
12/11/17 - SFGI Direct Bumps Up Savings Account Rate
12/11/17 - SFGI Rate Hike
9/12/17 - SFGI Direct Increases Savings Account Rate
9/8/17 - SFGI Raised Rate Again
7/28/17 - Another Savings Account Rate Increase at SFGI Direct
7/28/17 - Savings Rate Hike At SFGI
6/19/17 - SFGI Direct Ups Rate On Savings Account
6/16/17 - Rate Increase At SFGI
6/12/15 - SFGI Savings Account Rate Increase
2/20/14 - SFGI Does Not Allow Benficiaries Onto Accounts
1/10/14 - SFGI Direct Savings Account Joins the 1% Club
1/9/14 - SFGI Savings Account Rate Increase
11/27/13 - SFGI Direct Raises Its Rate
5/28/13 - SFGI Savings Account Rate Decrease
4/18/13 - SFGI Scheduled Outage Wed 4-24-13, 7Am-9Am.
12/14/12 - SFGI Direct Savings Account Rate Increase and Review
2/15/12 - SFGI Direct Rate Drops To 0.91%
10/28/11 - SFGI Direct Savings Account Rate Cut
4/1/11 - Rate Drop By SFGI
2/18/11 - SFGI Rate Drop
12/6/10 - SFGI Direct Increases Rate on its Internet Savings Accounts
12/5/10 - SFGI Direct Raises Savings Account Yield From 1.26% To 1.41%
3/27/10 - Note On Their Website On 3/27/10 Says They Are Not Accepting New Accounts Into This Program At This
11/13/09 - SFGI Direct's 2.25% Online Savings Account Is Open Again But With Changes
11/13/09 - Competitive Online Savings Account at SFGI Direct
11/13/09 - Last Chance at the 2.25% Savings Account at SFGI Direct?
11/13/09 - Update on SFGI Direct - The Top Online Savings Account

Terrific Bank

Straightforward account, caring professional staff. Website for account users could be better but it works. There are always people to help.

Best In Class Service

Posted by: |

My recent transaction experience with SFGI Direct was flawless. I am impressed. The ACH transfer to an external account hit my account within 24 hours. Every time I had to deal with customer service, the experience was top notch. This relatively small bank puts big guys to shame. The Bank has no restrictions (practically speaking) on daily transfers other than no more than 3 transfers out in a given statement cycle. As someone pointed out, the product is simple and the execution is flawless. Speaks volumes about employees' work ethics. Bravo!!! If there is one savings account you have to have, it is this one.

Simple Product, Perfect Execution!

10+ years as an SFGI account holder - short and long-term savings. Always next-day ACH transfers, interest rates in the top tier, and a web interface that is simple, all down-to-business, and perfectly executed. Couldn't be happier with this account!

Quick And Easy

Posted by: |

I was leary about opening an account with a smaller bank but the interest rate was too tempting to, at least, not try it out. I was also encouraged by the fact that the rate has stayed consistent despite the Fed's shenanigans.

Opened on Friday, initial deposit debited Monday, initial deposit along with log-in instructions came via e-mail on Wednesday.

I tried an out-going and in-coming ACH. Both were deposited and available the next business day. I like that there is no hold on incoming deposits.

Two downsides - no remote check deposit capability and only one external link allowed. I'll overlook those for now.

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Health
A+

Data as of Q4 2023

Data displayed below is for insuring bank: Summit Community Bank (WV)
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34102
Year Established1995
Employees492
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.41%
Return on Equity - YTD12.38%
Annual Interest Income$242.2MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$4.63B$3.89B
LoansQ4 2023vs Q4 2022$3.63B$3.04B
DepositsQ4 2023vs Q4 2022$3.75B$3.18B
Equity CapitalQ4 2023vs Q4 2022$531.1MM$445MM
Loan Loss AllowanceQ4 2023vs Q4 2022$48.1MM$38.9MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$12.4MM$7.8MM
Real Estate OwnedQ4 2023vs Q4 2022$3.7MM$5.1MM
Rates
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SFGI Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.26%$1-SFGI Direct Savings Account
Locations

SFGI Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 300 North Main Street - Moorefield, WV 26836

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