Ad Disclaimer

Bangor Savings Bank VS DCU

Which bank is better for you?

  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 3.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Variety of personal deposit accounts
  • Business accounts available
  • Competitive interest rates on CDs
  • Most accounts have low opening amounts

Cons:

  • High opening required amount for MMA
  • Tiered interest rates
  • Accounts only for certain residents
  • Some accounts require a checking account
  • Financial Rates: 4.0 Star Icon
  • Customer Service: 5.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 4.0 Star Icon
No Rate Information
Star Icon Star Icon Star Icon Star Icon Star Icon

Pros:

  • Variety of accounts offered
  • Competitive interest rates for savings
  • Only one DCU account has a fee
  • Low opening required amounts

Cons:

  • Must become a member first
  • Tiered interest rates on MMA
  • High balances to earn interest
  • Only one withdrawal per month for Ltd
Bangor Savings Bank Review

Bangor Savings Bank offers a variety of personal deposit accounts. They offer three checking accounts and savings and money market accounts. Those accounts include a savings account for kids and one for the holidays. Bangor offers CDs that range from three-month terms to five-year terms.

Bangor Savings Bank offers a wide variety of business accounts. Those accounts include business checking and savings accounts. They offer business credit cards and insurance options. Bangor offers cash management and payroll services for businesses.

The Bangor Savings Bank CDs offer competitive rates. The interest rates for these CDs are competitive with other online CDs. The terms range from three months to five years. The amount required to open each CD is $500.

Most Bangor Savings Bank accounts have low required amounts to open. Each of the checking accounts requires $25 to open. Two savings accounts also only need $25 to open. The CDs each need $500 to open.

The Benefit Money Market and Market Rate account have high opening required amounts. These accounts each need $5,000 to open and to earn interest. Balances below $5,000 do not earn interest. There is a $10 monthly fee if the Market Rate account drops below $5,000. The Benefit Money Market does not have a monthly fee.

Some Bangor Savings Bank accounts have tiered interest rates. To earn the most competitive rate for the MMA requires an account balance of $100,000. The savings account requires $25,000. Amounts under that balance earn interest, just not the most competitive rate.

Bangor Savings Bank accounts are not available to anyone across the United States. Only residents of Maine, Massachusetts, New Hampshire, and Vermont can open an account. You can open some accounts online if you are a resident of one of these states. A few accounts require visiting a branch location.

Some accounts require having a Bangor checking account first. To open the Benefit Savings and MMA requires having a Bangor checking account. Once you have a checking account, you qualify to open these other accounts.

Read the full Bangor Savings Bank review.

DCU Review

Digital Federal Credit Union offers a wide variety of personal deposit accounts. They offer a savings, money market, and holiday savings accounts. They offer two checking accounts and a variety of CD terms, including jumbo and rate bump CDs. Once you become a member of DCU, you can open any of these accounts online. DCU also offers business accounts.

The primary savings account offers competitive interest rates. For the first $1,000, you earn a very high interest rate. Any amount over $1,000 earns a lower rate. Between the two rates, the account earns competitive interest rates. The primary savings account is the account you must open to become a member of DCU.

Only the DCU Dividend Checking account has a monthly fee. All other accounts do not have a monthly fee. The amount required to keep in the checking account to waive the monthly fee is $2,500. The other DCU accounts do not have a required amount to keep in the account to avoid a fee.

The required amounts to open DCU accounts are low. The highest amount required to open a checking or savings account is $5. To earn interest for some accounts requires a larger balance. However, to open the accounts does not have a high required amount. The CDs require $100 or $500, depending on the CD. The jumbo CDs do require $25,000 to open.

To open an account with DCU, you must become a member of the credit union. To become a member requires opening a Primary Savings Account with at least a $5 balance. Once you open that account and become a member, you can open any other DCU account.

The DCU money market account has tiered interest rates. To earn the most competitive interest rates requires a large balance. The most competitive rate requires a balance of at least $100,000. Lower balances earn interest, just not the most competitive rate.

The Ltd savings account through DCU has a high required balance to earn interest. This account requires a balance of $25,000 to earn any interest. Any balance over $25,000 earns the most competitive rate, but balances below do not earn any interest.

Only one free withdrawal is allowed each month from the Ltd savings account. For every other withdrawal, there is a fee of $25 per withdrawal. To earn interest on this account requires a balance of $25,000. There is no required amount to open the account.

Read the full DCU review.

Sponsored Offers

American Express National Bank
Savings 10/18/2019
APY 1.90%
Rate 1.88%
For APY $1
Monthly Fee $0.00
Checkbook No
No monthly fee. Competitive APY. 24/7 account access.
Next >