Consumer News: The Safest Online Banks: Is Your Online Savings Account At Risk?
We recently reported about the accuracy of BankRate’s Safe and Sound Rating System, a measure of a financial institutions overall health. Since there have been 92 bank failures so far in 2009, it makes sense to ask “Which banks are doing just fine?” We decided to take a look at which banks that offer online savings accounts are performing well, and which ones may be in trouble.
Here’s a list of banks that received a 4 star rating according to BankRate:
Here’s a list of banks that received a 3 star rating according to BankRate:
Here’s a list of banks that received a 2 star rating according to BankRate:
Here’s a list of banks that received a 1 star rating:




My little bank in Wisconsin Citizens Community Federal offers online banking, has a 4 star rating and has a money market account with no withdrawal penalties, no time commitment and it is paying around 2.90%. Since all the problems with the banks I made sure this account is FDIC insured as well I insisted someone call me (lol a head honcho and they did) and I checked on the types of loans they had made wanting to be sure they were not highly invested in sub-prime mortgages or commercial construction loans they are not. I am in no way affiliated with the bank other then I have opened one of these accounts myself. I just thought others might want to check out smaller banks but make sure as I did what their portfolios include.
My little bank in Wisconsin Citizens Community Federal offers online banking, has a 4 star rating and has a money market account with no withdrawal penalties, no time commitment and it is paying around 2.90%. Since all the problems with the banks I made sure this account is FDIC insured as well I insisted someone call me (lol a head honcho and they did) and I checked on the types of loans they had made wanting to be sure they were not highly invested in sub-prime mortgages or commercial construction loans they are not. I am in no way affiliated with the bank other then I have opened one of these accounts myself. I just thought others might want to check out smaller banks but make sure as I did what their portfolios include.
My little bank in Wisconsin Citizens Community Federal offers online banking, has a 4 star rating and has a money market account with no withdrawal penalties, no time commitment and it is paying around 2.90%. Since all the problems with the banks I made sure this account is FDIC insured as well I insisted someone call me (lol a head honcho and they did) and I checked on the types of loans they had made wanting to be sure they were not highly invested in sub-prime mortgages or commercial construction loans they are not. I am in no way affiliated with the bank other then I have opened one of these accounts myself. I just thought others might want to check out smaller banks but make sure as I did what their portfolios include.