Choice Financial Rates & Review

Choice Financial Review

Choice Financial is proud to be a home-town, community bank in North Dakota. But its innovative products and services go far beyond traditional checking and savings accounts.

One day, back in November 2001, officers from four North Dakota banks, which between them had seven branches, merged their enterprises into a single organization to be called the Choice Financial Group. At the time of the merger, the new bank had total assets of about $170 million, and a staff of 69. By the end of 2008, it had total assets of $544.6 million, and employed 142 people in nine locations.

Banking products

Choice Financial offers personal and business banking services as well as specialty services in agribusiness and health savings accounts. Personal checking account options include basic checking, interest checking, and a checking account that rewards with iTunes gift cards. Savings account choices include the Adventure Club savings account for kids up to 14 years old, and Choice Market Investment, which is a money market account.

Customers can choose from CD terms ranging from three to 36 months, or invest in multiple institutions with one account through the Certificate of Deposit Account Registry Service (CDARS, pronounced "cedars"). CDs are available as an IRA as well.

Eligible deposits are protected by FDIC insurance, in accordance with the program's current requirements.

Financial services

For a small bank, Choice Financial offers an impressive range of big-bank services, including online banking/bill pay, telephone banking, and mobile banking (using a cell phone). The bank extends credit to qualified borrowers in the form of home mortgages, lines of credit, and credit cards. Investment services and insurance products are also available.