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 Direct Ups Savings Account Rate - Almost 10 Years of Top Rates - 1/20/2019

SFGI Direct increased the rate on its Savings Account by 20 bps to 2.27% APY. The account must be opened with a minimum deposit of $500.

SFGI Direct Savings Account - 1/18/2019

SFGI Direct has increased the rate on its Savings Account to 2.27% APY on all balances of $1 and above. Minimum opening deposit is $500.

SFGI Direct Ups Savings To 2.07% APY - 11/5/2018

A .16% APY increase from their previous rate of 1.91% brings SFGI Direct up to 2.07%. Decent rate - but still behind Pure Point, Popular and others. Not enough over the big boys to matter.

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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!

Needs To Upgrade To Standard Practices

Posted by: Markzz | Aug 20, 2019

1) Some transfers are stopped by SFGI, causing problems – it's caused by esoteric SFGI coding blocking certain transactions. Therefore, can't be trusted for paying bills. No similar difficulties with other banks.

2) Only one external account accepted.

Can't Open An Account If You Have A Fraud Alert

Posted by: Philo | Aug 20, 2019

I attempted to open an account with SFGI direct, and received confirmation of my application. After a three-week wait with no word, I called and was told that my application was denied because of a fraud alert on my account (had a freeze, too, but lifted it with a big window) and that I have to "lift the fraud alert" which isn't really desirable or easy.

This is a really non-standard practice. Fraud alerts are there for the financial institution to verify the person's identity (as many other financial institutions have done). They can still access the credit file.

It seems like SFGI Direct is too lazy to actually go through the trouble to verify identities, or to even send out a notification when an application is declined because of this.

If you have a fraud alert on your credit report, don't bother with SFGI Direct.

Not Able To Open The Account

Posted by: Yulia37 | Sep 13, 2019

I tried to open an account on line, completed detailed application including beneficiaries, external account info and security questions, and was given the confirmation and account number. Received an email confirmation. After waiting for few days, and nothing else happening, decided to call to inquire. Well when you call , there is only one specific person who can answer regarding on line accounts, you have to keep calling to reach her. Finally got a hold of her, just to find out that my application declined due security alert on my credit report. That is ridiculous, the bank can still access my credit report, and I have no credit problems at all. She Sandy, did not have any explanation why she did not return my call, and why nobody cared to inform me about the account to be declined fir so many days. The rep attitude was , she did not care at all. Poor customer service. Avoid this bank for online accounts.

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Health
A

Data as of Q2 2019

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
Employees343
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.33%
Return on Equity - YTD12.35%
Annual Interest Income$52.7MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$2.30B$2.10B
LoansQ2 2019vs Q2 2018$1.81B$1.62B
DepositsQ2 2019vs Q2 2018$1.80B$1.64B
Equity CapitalQ2 2019vs Q2 2018$251.3MM$223.0MM
Loan Loss AllowanceQ2 2019vs Q2 2018$13.2MM$12.6MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$13.5MM$15.8MM
Real Estate OwnedQ2 2019vs Q2 2018$21.4MM$21.6MM
Rates
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SFGI Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.