Academy Bank: Competitive CD Rates, Regional Focus
Academy Bank, established in 1966 and based in Kansas City, Missouri, is a medium-sized bank with a regional focus. It offers a range of financial products and services, including checking and savings accounts, CDs, IRAs, mortgage products, and credit cards. Notably, its basic checking account is free from monthly charges.
Academy Bank manages a substantial $2.94 billion in assets and $2.4 billion in deposits. Its CD rates are competitive, with a one-year rate of 4.05% and a five-year rate of 3.03%. However, its savings rate of 0.03% falls below the national average. The bank charges a $20 overdraft fee, which is lower than the average U.S. bank.
With 77 branches across Arizona, Colorado, Florida, Kansas, and Missouri, Academy Bank maintains a strategic regional presence rather than nationwide expansion. It offers mobile and web apps for banking on-the-go, with customer service available during specific hours. Unlike some banks, Academy Bank does not provide extensive customer service perks and is primarily a traditional brick-and-mortar institution.
Academy Bank, founded over five decades ago, is a regional bank offering a variety of financial products. While its CD rates are competitive, its savings rate and branch network are relatively modest. The bank's customer service is available through mobile apps and during specific hours, with a focus on traditional banking services.
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