Community 1st Bank Las Vegas Review: Competitive CD Rates

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Overall rating of the bank

Advantages and disadvantages

Savings

Annual percentage return (APY)

0.05% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Option to waive quarterly service charges
    • Debit card offer
    The inconvenients
    • Low APY
    • Minimum opening deposit of $ 100
    • $ 1.00 quarterly service charge
    • $ 1.00 fee on each debit transaction that exceeds the 4-quarter limit
    • Must keep more than $ 100 in your account daily to earn APY
    • Bank owned by Hispanic Americans
    • 3 branches in Texas (Las Vegas, Mora)
    • 4 free ATMs in Texas (Las Vegas, Mora)
    • To avoid quarterly service charges, keep more than $ 100 in your account daily
    • To earn APY, keep more than $ 100 in your account daily
    • Interest compounded daily, deposited
    • FDIC member

    Community 1st Bank Las Vegas Savings Account is a decent option if you can keep $ 100 in your account daily, in order to avoid quarterly service charges and earn interest.

    The account also has a debit card option which makes it easier to access your money. However, if you want to avoid being charged on a debit transaction, you will need to keep track of the limit of four free transactions allowed per quarter.

    If you’re looking for a higher APY, one of the accounts in our guide to the best savings accounts may be a better fit.

    Verification

    Annual percentage return (APY)

    Nothing

  • Advantages and disadvantages

  • Details


  • Advantages
    • Minimum opening deposit of $ 5
    • Unlimited checks
    The inconvenients
    • $ 1 monthly service charge
    • Cannot waive monthly service charges
    • $ 7.50 overdraft fee
    • Off-network ATM fee of $ 1.50
    • No overdraft protection
    • Bank owned by Hispanic Americans
    • 3 branches in Texas (Las Vegas, Mora)
    • 4 free ATMs in Texas (Las Vegas, Mora)
    • $ 1 monthly service charge
    • Off-network ATM fee of $ 1.50
    • FDIC member

    You might like the Community 1st Bank Las Vegas Freedom 1st checking account if you prioritize a low minimum opening deposit.

    However, there are a few additional fees that can add up if you don’t manage your account closely. There is a monthly service fee of $ 1 that you cannot waive, an overdraft fee of $ 7.50 when you overdraft your account, and a fee of $ 1.50 each time you use an ATM. automatic off-grid. Also, keep in mind that Community 1st Bank only has four free ATMs in New Mexico.

    CD

    Annual percentage return (APY)

    0.10% APY to 0.40% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Competitive APY
    • Minimum opening deposit of $ 500
    • Term of office from 6 months to 5 years
    The inconvenients
    • Withdrawal penalties depend on the duration of the mandate and the amount deposited
    • Bank owned by Hispanic Americans
    • 3 branches in Texas (Las Vegas, Mora)
    • 4 free ATMs in Texas (Las Vegas, Mora)
    • Term of office from 6 months to 5 years
    • Higher tiered rate for account balances of $ 100,000 or more
    • Interest compounded daily, deposited monthly
    • FDIC member

    Community 1st Bank CDs are solid choices for anyone looking for standard durations with a low minimum opening deposit.

    The APY is competitive against other traditional banks, especially for terms with an opening deposit of $ 100,000 or more.

    Money market account

    Annual percentage return (APY)

    0.05% to 0.15% APY

  • Advantages and disadvantages

  • Details


  • Advantages
    • Ability to waive monthly service charges
    • Debit card option
    • Check writing option
    The inconvenients
    • Low APY
    • Minimum opening deposit of $ 2,500
    • Monthly service fees vary based on your account balance
    • Must keep at least $ 500 in your account to earn APY
    • Bank owned by Hispanic Americans
    • 3 branches in Texas (Las Vegas, Mora)
    • 4 free ATMs in Texas (Las Vegas, Mora)
    • Off-network ATM fee of $ 1.50
    • Graduated Interest Rate: Earn 0.05% APY if your account has an average daily balance between $ 500 and $ 24,999.99; Earn 0.10% APY if your account has an average daily balance between $ 25,000 and $ 249,999.99; Earn 0.15% APY if your account has an average daily balance of $ 250,000 or more
    • Various monthly service charges: monthly service charge of $ 7 if you have an average daily balance of $ 1,000 or less; $ 5 monthly service charge if your average daily balance is between $ 1,500 and $ 1,000; Monthly service charge of $ 3 if you have an average daily balance between $ 2,500 and $ 1,500
    • To waive the monthly service charge, keep more than $ 2,500 in your account daily
    • Interest compounded daily, deposited monthly
    • FDIC member

    Community 1st Bank offers a single money market account with varying monthly service fees – each month you will need to pay between $ 3 and $ 7 depending on your daily account balance. To avoid monthly service charges entirely, keep more than $ 2,500 in your account daily.

    Community 1st Bank Las Vegas is a Spanish-American bank with three branches in Mora and Las Vegas, New Mexico. The bank also has four ATMs in these towns.

    Customer service is available in branch or by phone Monday to Friday from 8:00 a.m. to 5:00 p.m.

    Reviews of the bank’s mobile banking services are mixed, so your mobile experience may vary depending on which phone you have. The bank’s mobile app has 2 out of 5 stars in the Apple Store and 5 out of 5 stars in the Google Play Store.

    Community 1st Bank Las Vegas is FDIC insured, so individual accounts are protected up to $ 250,000 and joint accounts are protected up to $ 500,000.

    We use Better Business Bureau ratings to determine a bank’s reliability, as the BBB examines how companies resolve customer issues. Community 1st Bank Las Vegas has not yet been rated by the BBB.

    A good rating is not necessarily the ultimate solution in determining whether a bank is right for you. You can also talk to your friends or family if they’ve banked there or read customer reviews online.

    The bank has not experienced any public controversy in recent years.

    We compared Community 1st Bank Las Vegas with two other Hispanic-American financial institutions in New Mexico: Centinel Bank of Taos and Guadalupe Credit Union.

    These institutions are considered minority depository institutions by the FDIC and NCUA, so they are meant to serve local communities and often do not have a large branch or ATM network.

    1st Bank Las Vegas community vs. Centinel Bank of Taos

    If you are looking for a savings or money market account, Community 1st Bank Las Vegas may offer better options. Centinel Bank of Taos charges a higher monthly service fee and offers a lower interest rate on both accounts. There is also no debit card option on the Centinel Bank of Taos Money Market Deposit Account.

    Community 1st Bank Las Vegas and Centinel Bank of Taos both offer strong CD options. Community 1st Bank Las Vegas has higher rates for shorter terms, but Centinel Bank of Taos has better rates for longer terms. Your decision between the two may depend on how long you think is the best tenure.

    1st Bank Las Vegas Community vs. Guadalupe Credit Union

    Frequent travelers are likely to find Guadalupe Credit Union’s branch presence and ATM network more appealing than Community 1st Bank Las Vegas. Guadalupe Credit Union has six branches and is part of the Co-Op Share Network and CU Anytime Network, which provides access to over 30,000 ATMs at no additional cost.

    However, if you’re more concerned with local banking services, your choice between the two will depend on your account preferences. Guadalupe Credit Union’s exceptional account is its checking account – there is no minimum opening deposit and low monthly service. Meanwhile, Community 1st Bank Las Vegas offers solid CD rates.


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