West Gate Bank has a great history of working in the banking industry. With an ‘A’ health rating, this bank grows faster than our imagination. It only happened only for their dedication to the banking service along with the different financial products.
From CDs to loans, everywhere this bank kept a positive impression. They are professional and know how to keep their clients happy all the time. For sales, Retail, Team Building, service, and management, this bank got high scores.
This family-owned community bank has more secrets that we need to know. That’s why we are going to talk about it.
What Is The History of West Gate Bank?
At first, this bank was a family-owned community bank. It was established in 1968 and its headquarters are in Lincoln, Nebraska. Still, people consider this bank as a newbie in the banking sector. But that’s not true.
They have a great record of banking that we found in their assets and deposits. It has assets totaling $492 million and deposits totaling $411 million.
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As you see, this is a medium-sized bank. But size doesn’t matter for this bank. They offer different financial products and top-notch customer service. Even they introduced a live chat feature as well. That means, they love to keep a good relationship with their client.
In addition, they have mobile and web apps that are user-friendly to use for any client. So, managing the account through this bank is super easy.
What Types of Product does It offer To Us?
Maybe it’s a medium-sized bank but this bank has everything in its arsenal to ensure the best banking experience. That means, they have different financial products to offer and these are.
Personal Banking
Checking:
- Completely Free Checking
- Direct Free Checking with Interest
- High-Interest Checking
- 50+ Free Checking with Interest
- Overdraft Privilege
Savings:
- Personal Savings Accounts
- Money Market Accounts
- Certificates of Deposits (CDs)
- Health Saving Accounts
- Individual Retirement Accounts
Loans:
- Home Loans
- Residential Construction Loans
- Bridge Loans
- Home Equity Loans
- Home Equity Lines of Credit
- Auto Loans
Business Banking
Accounts:
- Business Checking
- Business Savings
Business Loans:
- Business Lines of Credit
- Business Terms Loans
- SBA Guaranteed Loan
- Small Business Loan
Commercial Real Estate Lending:
- Commercial Owner-occupied Real Estate
- SBA 504 Loan
- Commercial Real Estate
- Commercial Construction
- Commercial Bridge Loan
Mortgage
Home Loans:
- Conventional
- VA
- FHA
- USDA Rural Development Loans
- NIFA
- Mobile Mortgage
- Extended Rate Lock
- Bridge Loan
Construction Loan:
What is the Rate of Their Financial Product?
To know the financial product of a bank in a better way, the rate is the key point. Here is every detail you need to know.
Savings and Money Market Rates:
| Particulars | APY | MIN | MAX |
| Savings | 0.01% | $2,500 | $4,999 |
| Money Market | 0.10% | $2500 | $2999 |
Checking Account & Certificates of Deposits (CDs):
| Product | Current Terms and Rates | Minimum Balance for APY |
| Checking Account | 0.35% APY | $1500 |
| Certificates of Deposit | 12 Month: 1.52% APY24 Month: 2.27% APY36 Month: 2.52% APY48 Month: 3.03% APY60 Month: 3.03% APY | $1000 for all terms |
CD Rates:
| CD Rates | APY | MIN | MAX |
| 6 Mo CD | 0.25% | $10000 | $14000 |
| 6 Mo CD | 0.25% | $100000 | $199999 |
| 12 Mo CD | 0.35% | $10000 | $14999 |
| 12 Mo CD | 0.35% | $100,000 | $199,999 |
| 18 Mo CD | 0.45% | $10,000 | $14,999 |
| 18 Mo CD | 0.45% | $100,000 | $199,999 |
| 24 Mo CD | 0.55% | $10,000 | $14,999 |
| 24 Mo CD | 0.55% | $100,000 | $199,999 |
| 36 Mo CD | 0.65% | $10,000 | $14,999 |
| 36 Mo CD | 0.65% | $100,000 | $199,999 |
| 48 Mo CD | 0.75% | $10,000 | $14,999 |
| 48 Mo CD | 0.75% | $100,000 | $199,999 |
| 60 Mo CD | 0.85% | $10,000 | $14,999 |
| 60 Mo CD | 0.85% | $100,000 | $199,999 |
What About the Service Quality?
Now, let’s talk about the service quality of this bank. At first, this bank had seven total branches in Nebraska. That means they are not in a good position for branch opening.
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Despite the limitations, they are doing tremendously well to support their customers. They have everything like mobile apps, online banking, websites, live chat feature, and many more.
With their mobile app, you can easily manage your account and money within a minute. So, this bank offers an on-the-go service. They offer quick access services to their clients. Their mobile app got a 3.3 rating out of 5.
Undoubtedly they are successful in satisfying their customers even by providing services by a support representative. So, here is the rate for their overall service quality.
- Overall Mobile Rating (3.3/5)
- Consumer Satisfaction Rating (5.0/5)
- Online Banking Portal (No)
- Live Chat (Yes)
FAQ:
How do I log into Online Banking for the first time?
It’s simple and easy. First, go to their homepage for an Online Banking login. Click on the button ‘Enroll Now’. Follow the instructions and provide necessary information like account number, social security number, and finally a PIN. You’re done.
Is Mobile Banking secure?
Yes, in many ways, this bank secures mobile banking. Your phone number will be required for the authentication and you’ll receive a text message. SMS text banking doesn’t store any previous messages. Most importantly, don’t store your Online Banking password anywhere.
Can I set up Mobile Banking without Having Online Banking?
It is possible to set up Mobile Banking without having Online Banking. Just download the official app of this bank and run it. Click on ‘Not yet enrolled?’ and follow the instructions.
Conclusion:
Only a few banks are there who got ‘A’ health rating and West Gate Bank is one of them. Despite being a medium-sized bank, this one grows tremendously fast only for its service quality.
We found, for every product this bank gives freedom and flexibility. They have a huge community in their management to serve us as a family. Overall, it’s a financial shelter that we were looking for for a while.
From savings to CDs, every product comes with high returns and imposes minimum charges. This is the thing every client expects from a bank and we found this one. This bank knows what we want.
