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!
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.
I took a wordpad document, and copied and pasted all the info that I wanted to keep about this bank, and many others, as I archive everything about online banks. I'm getting up there in age, and sometimes I think, that my memory isn't as good as it used to be.
But if it's still as sharp as ever, I know one day, eventually, it might start slipping. So I want this info to come back to, or even keep it for history's sake, or even to let someone else know a fact or two about a bank, they might be curious, or interested in.
And so anyway, to get to my point (see, I'm slippin, lol)....I have found 3 times, where this bank's website, has said (not literally!), that the minimum balance to receive that rate, is 500.00. But now, on their homepage, and ONLY on their front page, I believe that minimum has been changed, since the last time, I've checked this site out, and it's now 1.00.
I don't know if I missed that last time I examined this whole site, as it has been awhile, since I've been here on their site, but if it's 1.00 min now, couldn't they update their website, to reflect that change? To NOT confuse someone? I sure would like to know, and I would be VERY happy, if it's that min now, as there's no way, I could give that much money (500.00), at one time. I also wish I knew how long that minimum would be active, before it changes it back to 500. IF, that is what is going on.
I see I can click on how many stars, for my opinion about different subjects about the website. Too bad they don't have one for this subject... lol. (Can't come up with a word for it, first time I've come up on this situation).
What do others think? Is the minimum balance to open the account, 500 dollars, or 1? Guess I could go ahead and fill out the application, and be declined, for not having the full minimum....:)
But I hate wasting any minutes in my busy day!
I searched these folks out around 10 years ago and have been with them ever since. I've never had a problem with anything....ever.
Yea..rates go up and down but they're always amongst the best out there....consistently. The Web-site is simple and no frills and it always works as it should.
|FDIC Certificate #||34102|
|Return on Assets - YTD||1.38%|
|Return on Equity - YTD||12.59%|
|Annual Interest Income||$80.0MM|
|Assets and Liabilities|
|Assets||Q3 2019vs Q3 2018||$2.32B$2.13B|
|Loans||Q3 2019vs Q3 2018||$1.84B$1.63B|
|Deposits||Q3 2019vs Q3 2018||$1.83B$1.66B|
|Equity Capital||Q3 2019vs Q3 2018||$261.4MM$223.3MM|
|Loan Loss Allowance||Q3 2019vs Q3 2018||$12.9MM$12.9MM|
|Unbacked Noncurrent Loans||Q3 2019vs Q3 2018||$12.7MM$17.0MM|
|Real Estate Owned||Q3 2019vs Q3 2018||$21.0MM$22.0MM|
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|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|1.91%||$1||-||SFGI Direct Savings Account|
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