Overview / Commentary
877-776-9722
300 North Main Street
Moorefield, WV 26836

Related Posts

SFGI Direct Ups Savings Account Rate - Long History of Top Rates - 9/8/2018

Last Friday SFGI Direct increased the rate on its Savings Account by 10 bps to 1.91% APY on all balances. The account must be opened with a minimum deposit of $500.

Rate Hike At SFGI - 9/7/2018

SFGI raised their savings rate to 1.91% up from 1.81. It may not be the highest rate out there but they don't bait & switch.

SFGI Direct Savings Account Rate Jumps - 6/1/2018

SFGI Direct has ended the week by raising the rate on its Savings Account by 20 bps to 1.81% APY. The account must be opened with a minimum deposit of $500.

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Best On-Line Bank

Posted by: cbr6861 | Apr 12, 2017

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

Posted by: Tee | May 17, 2014

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

Posted by: ges74 | Aug 6, 2013

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.

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Health

Health Grade Components

Overall
FDIC Certificate #34102
Year Established1995
Employees325
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.36%
Return on Equity - YTD13.15%
Annual Interest Income$46.3MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$2.10B$2.09B
LoansQ2 2018vs Q2 2017$1.62B$1.54B
DepositsQ2 2018vs Q2 2017$1.64B$1.62B
Equity CapitalQ2 2018vs Q2 2017$223.0MM$206.1MM
Loan Loss AllowanceQ2 2018vs Q2 2017$12.6MM$12.3MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$15.8MM$13.7MM
Real Estate OwnedQ2 2018vs Q2 2017$21.6MM$23.6MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Rate Hike At SFGI

Maecl   |  
SFGI raised their savings rate to 1.91% up from 1.81. It may not be the highest rate out there but they don't bait & switch.

Rates
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SFGI Direct Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.91%$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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