With assets of $94 billion and a widespread branch and ATM network, KeyCorp and its subsidiary KeyBank are major players on the American banking scene.
KeyBank was established in 1849 and has been in business for more than 150 years. By mid-2010 the company, along with its parent company KeyCorp, had consolidated total assets of $94 billion. It also had at that time more than 1,000 banking branches across 14 states, and a network of some 1,500 ATMs.
The organization's activities are wide-ranging, and in addition to retail banking include:
The Office of the Comptroller of the Currency has rated the organization "Outstanding" for economic development and community investment in seven consecutive years. KeyBank is alone among the top 50 national banks in achieving this recognition.
KeyBank currently offers six types of checking account, two of which have no minimum balance requirements. Its three premium products are only available to those who are prepared to maintain fairly significant balances, which may include deposits in the bank's money market accounts and CDs.
The Key Privilege and Key Privilege Select checking accounts provide special features, such as an account sweep service, and a "comprehensive relationship statement" that can show credit, deposit and investment activities.
Among KeyBank's many savings products are its Key Gold high interest savings account (a money market account), and another offering especially for kids. The bank offers three forms of CD, including the Key Short Term CD for investors who want to retain access to their funds, and the Key Jumbo CD, which at the time of writing is only for those with six figures to invest. The bank offers traditional and Roth IRAs, and an HSA.
KeyBank 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.