Citizens Trust Bank Rates & Review

Citizens Trust Bank Review

Citizens Trust Bank, based in Atlanta, has a range of financial products and services.

Citizens Trust Bank opened its doors in 1921, primarily to serve black citizens of Atlanta who had limited access to banking services. In 1947 it became the first African-American owned bank in the country to become a member of the Federal Reserve Bank. The bank currently has locations in Georgia and Alabama.

Personal banking

The bank offers a variety of financial products and services. As of 2010, among the options for checking are the Direct Checking Account with no monthly fees or minimum balance requirement, the Flat Fee Checking Account that offers unlimited debits and check writing and a minimum opening deposit of $100, and the Personal Interest Checking Account that requires an opening deposit of $1,000. Other checking accounts are available for personal and business customers.

Citizens Trust Bank has savings accounts, a money market account, and CD terms for 7-31 days up to five years. A regular CD requires a minimum opening deposit of $500 and a jumbo CD requires an opening deposit of $1,000. Customers can also apply for five different types of credit cards at the bank. The bank also offers home equity loans, personal installment loans, personal lines of credit, and secured lines of credit.

Business banking

Commercial services at the bank include checking accounts, savings accounts, loans, and a business credit card. Merchant services include point of sale terminals, credit card processing, electronic benefits transfer, gift cards, and Internet shopping carts. Cash management services help businesses mange their accounts and cash flow online from anywhere.