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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
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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
Best On-Line Bank
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.
Solid Savings Account
The rates are the highest in the country - higher than even GS Bank.
Account setup was pretty simple, and the one time I had to call customer service for a query, I was able to talk to a rep and get it sorted out.
SFGI Direct Division Of Summit Community Bank
SFGI Direct Division Of Summit Community Bank, Excellent bank your account must be open at the end of the month in order to get your interest accrued for that month...
Pretty Good But Looking To Move Now
Have been banking here for a couple years from a variety of remote locations.
As a previous poster has said, service is quite good. ACHs are particularly fast (pushing money out takes half the time it would take for me to pull from my external account). Some headaches:
1. I have a joint account with my husband. We are both co-signers and therefore both are authorized to take $ out without the other's signature. I locked myself out of the account because I had recently changed the password and forgot. The account was opened using my husband's SSN, and that's what they reset the password to. I forgot that piece of info (yes I'm a space cadet), so I called again to get it reset. Then the call center woman figured out that the SSN wasn't mine. She insisted that my husband call in and reset. My husband is busy working his day job. I should have been able to reset. She refused.
2. The account mentioned above is actually our 2nd account with them. The first was originally opened by me when I was single. After I got married, I wanted to add my husband as a beneficiary. We asked for the paperwork - they had none and refused to create any. This meant that in the event of my death, any remaining balance would have to go through a costly and time consuming formal probate process (normally if you sign a separate beneficiary document those fund can pass outside a probate). Hence, we had to close this account and open up the account referenced in point #1 above, and become co-signers. MARRIED COUPLES WHO WANT TO ADD EACHOTHER AS BENEFICIARIES BUT NOT AS CO-SIGNERS, YOU'RE OUT OF LUCK HERE. I escalated this to the bank president, who said they are not allowing this for liability/fraud issues. I find that very odd. Almost all banks allow benefiiary designation.
3. This is probably true of other "high" interest rate savings accounts as well, but there is absolutely no way for you to get money in/out other than initiating a transfer to/from your registered external account. I had an emergency once, and believe me, I tried everything - but no cashier's checks, no wires, no bill pay, no nothing. You can change the registered external account at any time, but it will take several days to set up as they have to do the trial deposits/whatnot. Also, the process to change the external account requires you to email customer service (it is not self-serve/automatic)
So for these reasons I'm considering moving my money elsewhere. For me, point #1 above was the last straw.
Data as of Q4 2016
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34102 |
| Year Established | 1995 |
| Employees | 220 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.15% |
| Return on Equity - YTD | 11.14% |
| Annual Interest Income | $64.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2016vs Q4 2015 | $1.75B$1.49B |
| Loans | Q4 2016vs Q4 2015 | $1.31B$1.08B |
| Deposits | Q4 2016vs Q4 2015 | $1.30B$1.07B |
| Equity Capital | Q4 2016vs Q4 2015 | $169.7MM$159.1MM |
| Loan Loss Allowance | Q4 2016vs Q4 2015 | $11.7MM$11.5MM |
| Unbacked Noncurrent Loans | Q4 2016vs Q4 2015 | $14.6MM$15.8MM |
| Real Estate Owned | Q4 2016vs Q4 2015 | $24.5MM$25.6MM |
Always verify rates and promotions with the bank or credit union. We are not SFGI Direct; we are a rate comparison website and cannot provide official rates or promotions.
SFGI Direct Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.06% | - | - | SFGI Direct Savings Account |
SFGI Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 310 North Main Street - Moorefield, WV 26836