2020 Overview
General Online Bank Information
Money that you deposit is held by Fall River Five Cents Savings Bank. Fall River Five Cents Savings Bank is an FDIC insured institution founded in 1855. It has approximately $1.11 billion in assets.| Deposits FDIC Insured | Yes |
| Insured Bank | Fall River Five Cents Savings Bank |
| FDIC Certificate # | 23286 |
| Date Established | 1855 |
| Assets | $1.11 billion |
| Loans | $0.88 billion |
| Deposits | $0.94 billion |
| Capital | $0.09 billion |
For a more detailed analysis of Fall River Five Cents Savings Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - July 14, 2020
Online Savings and Money Market
Rates
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High-Interest Savings
|
1.10% | $2,000 | - |
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|
Online CD Rates
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Connect 6-Month CD
|
0.75% | $500 | - |
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|
| Connect 12-Month CD
|
1.15% | $500 | - |
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|
| Connect 18-Month CD
|
1.05% | $500 | - |
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|
| Connect 21-Month CD
|
1.10% | $500 | - |
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|
| Connect 24-Month Investment CD
|
1.10% | $500 | - |
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|
| Connect 36-Month CD
|
1.20% | $500 | - |
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|
Customer Reviews for Bank5 Connect (10)
Savvysaver
June 27, 2020
Agree with "Cannot recommend", this is a bricks and mortar bank with a very limited online presence.
Is this review helpful? Yes:1 / No: 0
Timothy E
September 15, 2018 |
I applied 5 days ago. I have perfect credit. Got a letter back saying that they were unable to verify my credit with Equifax. I have never dreamed of being rejected for a savings account and have nothing more to say (speechless).
Is this review helpful? Yes:2 / No: 0
Cannot recommend
July 21, 2018 |
This is not an online bank. It is a Massachusetts bank discriminating against Massachusetts residents by trying to offer higher rates to outsiders. But, their online capabilities are a joke. Please remove from the online table and return this to the Mass. table.
Is this review helpful? Yes:2 / No: 0
Tumo
May 07, 2018 |
Great rates on CD's, but a big pain in the --- to get through the account opening even when you are a existing customer.
Is this review helpful? Yes:7 / No: 0
Jeff
April 28, 2018 | | Replies 1
The rate caught my attention. I see a 1-year early withdraw penalty on a 2-year CD. No go. Wouldn't touch. Good bye.
Is this review helpful? Yes:1 / No: 0
JB Childress | Jul 14, 2020
I read it as saying 6 months. What I see that is ridiculous is that I cannot open it because I live in Rhode Island. Massachusetts residents also excluded.
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