First Niagara Bank Rates & Review

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First Niagara Bank Review

First Niagara Bank provides personal banking, small business banking, commercial banking, insurance products, benefits consulting and government services.

First Niagara Bank was founded in 1870 as Farmers and Mechanics Savings Bank and later operated as Lockport Savings Bank until 2001. The bank provides personal banking, small business banking and commercial banking, insurance products, benefits consulting and government services throughout 57 National City branches in Harleysville and western Pennsylvania.

Personal banking

First Niagara Bank provides a variety of personal checking account choices. Of the bank's interest-bearing accounts, Prestige Bundle offers the best bank rates if minimum balances are maintained. This account offers free, unlimited transactions through the bank or at First Niagara ATMs, free online banking and online bill pay and free or discounted checks.

The Prestige Bundle includes other perks such as loan rate discounts with automatic payment from First Niagara checking, free safe deposit box rental up to a certain limit, no fee for money orders or bank drafts, and discounts on other qualifying services.

The bank offers a statement savings and a money market account. Relationship CDs are available online for 15- and 30-month terms, and an online eCD has a 29-month term.

Credit products include home mortgages, home equity lines of credit, home improvement loans, personal loans, auto loans and a signature line of credit.

Small business and commercial banking

First Niagara Bank's business customers can choose between a variety of deposit account options including a checking or savings account. Other options include lending and credit services, business insurance, cash management services, employee benefits and online services.

BusinessWise Checking has no monthly maintenance fees for customers who keep their balance above a certain daily limit. This account provides a Debit MasterCard BusinessCard and free online services including online banking, online bill pay, online check imaging, and eStatements sent via e-mail.

The bank provides equipment financing for construction and commercial vehicles: trucks, trailers, delivery vans, machine tool and production equipment, material handling, lift trucks, medical, technology and telecommunications.

Personal insurance products

First Niagara Bank provides access to insurance programs and risk management solutions for businesses and individual customers. Policies include homeowners, renters and condominium insurance, auto insurance, umbrella liability coverage, valuable items coverage, watercraft and recreational vehicle insurance, flood insurance and landlord policies.

Insurance products are available through SBLI USA Mutual Life Insurance Company and First Niagara Risk Management.

Benefits consulting and group insurance

First Niagara Bank provides benefits consulting and access to benefit plans in the areas of medical and dental group insurance, group disability and life insurance, retirement plans, compensation, actuarial, health and wellness, and executive and voluntary benefits.

Government services

Government services provided by First Niagara Bank include municipal banking, depository services, financing, and risk management consulting for local governments, municipal agencies, school districts, and other governmental agencies. The bank provides public sector equipment financing and municipal insurance programs.

FDIC insurance

First Niagara Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

Compare savings account ratesfrom First Niagara Bank and more than 400 other banks at

  • Account Type
  • APY
  • Adverstiser Comments
  • Savings
  • 0.01%
    Min to Earn APY: $200
  • Statement Savings - APY for all balances $200 and above - Rates listed for new accounts opened at branch locations - online rates may differ. Rate collected within: 10025 (NY).
  • Money Market
  • 0.05%
    Min to Earn APY: $500
  • Pinnacle Money Market Tier $500 - $4,999 - Monthly fee waived with $5,000 minimum daily balance - Rate listed is available for new accounts opened at branch locations. Rate collected within: 10025 (NY).
  • CD Rates
  • 12 Month CD - Rates may vary based on location. Rate collected within: 10025 (NY)..
  • Term
  • APY
  • Min. To Earn APY
  • Compounding Method
    • 1 year
    • 0.05%
    • $0
    • Compounding Daily
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