For the Passumpsic Savings Bank, nothing is impossible to make their customers happy. Yes, they have a solid platform to show their performance by offering financial products, services, expertise, advice, and many more.
They have a strong mentality to provide solid financial services. It is one of these banks that are mutually owned. To know what your financial great event could be, you can easily get services from here.
From college students to retired people, everyone can fit their financial needs with their products. Yes, checking, savings, loan, and mortgage everything is here under the shade.
Getting service from this bank is just like joining a financial adventure. Let’s discover how much they’ve got for us.
What Is the Passumpsic Savings Bank?
Passumpsic Savings Bank adds another feather to the community bank industry in the United States of America. It was established in 1853 and set its headquarters in Saint Johnsbury.
This is the 4th largest bank in this state. In the nation, this bank is the 1104th largest bank. With an “A” health rating, Passumpsic bank is doing well in this sector.
You can see the result in their assets, capital and deposits. Now they have assets totaling $643 million, and deposits totaling $527 million.
As a medium-sized bank, this one offers different types of products like checking, and savings, mortgages, CDs, IRAs, credit cards, and many more.
Things You Don’t Know About Passumpsic Savings Bank:
Undoubtedly, Passumpsic Savings Bank if or stress-free personal checking. For the highest rate of return and get other financial benefits, you might decide to make this your ultimate financial institution. Before sealing the decision, know more about this bank below.
| Particulars | Remarks |
| Website | http://www.passumpsicbank.com |
| Industries | Banking |
| Company Size | 51 – 200 Employees |
| Headquarters | St. Johnsbury, Vermont |
| Types | Privately Held |
| Founded | 1853 |
| Specialties | Home Mortgages, Home Equity Loans, Personal Banking, Online Banking, Mobile Banking, Business Banking, Personal Loans, Business Loans, and Trust and Investments |
| FDIC Insured | Yes |
| FDIC Certificate | #14134 |
| Capital | $107.74 million |
| Primary Regulator | FDIC |
| Return on Assets – YTD | 1.07% |
| Return on Equity – YTD | 8.79% |
| Annual Interest Income | $23.9M |
Assets and Liabilities Status:
Let’s check out all the financial parameters of Passumpsic Savings Bank to know how better their activity is going on in this sector.
We just pick some key parameters for it like assets, loans, deposits, equity capital, loan loss allowance, unbacked noncurrent loans, and real estate owned. Have a glance at the table below.
| Particulars | Q4 2021 | Q2020 |
| Assets | $880.2Mm | $814.1MM |
| Loans | $583.7MM | $540.5MM |
| Deposits | $739.8MM | $682.3MM |
| Equity Capital | $107.7MM | $100.2MM |
| Loan Loss Allowance | $8.2MM | $7.4MM |
| Unbacked Noncurrent Loans | $6.2MM | $5.5MM |
| Real Estate Owned | $0 | $0 |
What Types of Product You Can Have from This Bank?
A wide range of products can make customers more flexibility to choose what they need from a community bank to meet financial needs. This one also surprises us by offering different types of products every time. We’ve mentioned all of them below.
Personal Banking:
Checking Accounts:
- Kasasa Cash
- Kasasa Cash Bank
- Kasasa Tunes
- Senior Free Checking
Savings Accounts:
- Kasasa Saver
- Statement Savings
- Money Market Savings
- Health Savings Account
- Youth Statement Savings
- Savers Club
CDs:
- Fixed-Rate CDs
- Youth CDs
IRA Accounts:
- Roth IRA
- Traditional IRA
Business Banking:
- Business Checking
- Small Business Checking
- Business Now Account
- Municipal NOW
- Non-Profit Checking
- Non-Profit Plus Checking
Business Savings & CDs:
- Statement Savings
- Money Market Account
- Business CDs
- SEP IRAs
Credit Services:
- Commercial Real Estate Loans
- Commercial Equipment
- Working Capital
- Business Acquisition
- Small Business Admiration (SBA) Loans
- Line of Credit
Business Services:
- Visa Business Credit Card
- Online Banking
- Automated Clearing House Partner (ACH)
- Wire Transfer – Domestic and International
- Capital Reserve Overdraft Protection
- IntraFi Network Deposits
- Health Savings Account
- Telebanking
Merchant Services:
- Merchant Card Service
- Merchant Deposit Advantages
- Government Payment System
- Check Conversion
- Voyager Fleet Card
- Gift & Loyalty Card
Non-Deposit Services:
- Sweeps
- Repurchases Agreements (With Sweep Feature)
Additional Services:
- Visa Credit Card
- MasterMoneyTM Debit Card
- Change of Address
- Safe Deposit Boxes
- Direct Deposits
- Wire Transfer: Domestic and International
- Night Depository
- Automatic Funds Transfer
- Online Banking
- E-Statement
Lending:
Mortgages:
- Fixed-Rate
- Adjustable-Rate
- First-Time Homebuyer Programs
Home Equity Products
- Home Equity Loans
- Home Equity Lines of Credit
Personal Loans
- Toy Loan
- Kasasa Loan
Investment:
- Financial Services
- Financial Specialist
Customer Center:
- Order Checks
- Current Rates
- Accessibility
- Additional Services
- Online Banking & Digital Service
- Security and Customer Protection
Picture: Get the mobile app
How to Compare the Rate?
Now, it’s time to know about the rate of the popular accounts at this bank. Rate influences people to make decisions about the product.
Check the below table for the current terms, rates, and APY of all the popular products of this bank.
| Product | Current Terms and Rates | Minimum Balance for APY |
| Savings Account | 0.1% APY | $50 |
| Checking Account | 0.05% APY | $1 |
| Certificates of Deposit | 12 Months: 0.50% APY 24 Months: 0.75% APY 36 Months: 0.85% APY 48 Months: 1.25% APY 60 Months: 1.55% APY | $500 for all terms |
| Money Market Accounts | 0.1% APY 0.1% APY | $10000 $15000 |
The below table is for you, to compare all the rates with others. It makes sense why you need to choose this bank for your best financial assistant right now.
| Notable Rates | APY | Vs. Others |
| Savings | 0.10% | 0.85% |
| 1 Year CD | 0.40% | 1.25% |
| 2 Year CD | 0.60% | 1.50% |
| 5 Year CD | 0.85% | 1.80% |
| 30 Year Mortgage | 3.57% | 2.81% |
| 15 Year Mortgage | 2.88% | 2.36% |
| HELOC | N/A | 2.79% |
Conclusion:
Only a few banks have the dedication to grow faster than anything in the community banking sector. Passumpsic Savings Bank is doing the same thing to fulfill its purpose.
They want to make their customer and community happy. For both personal and business customers, they made everything much better including their product line and services. They ensure convenient access to every type of service through mobile and online.
It’s true, this bank is liable to make the community stronger. For secure, reliable, and fast service, it could be the ultimate option for everyone.
Nothing can be better without this bank if you need the hassle-free but solid banking service.
