Pioneer Bank Rates & Review

Pioneer Bank Review

Pioneer Bank, headquartered in Troy, New York, provides mutual community banking and other financial services to residents in the Capital Region through multiple branches.

Established in 1889, Pioneer Bank has consistently earned a five-star "Superior" rating from Bauer Financial every quarter for more than 20 years. Fewer than 10 percent of banks in the county have maintained this level of recognition for their financial strength.

Financial services

Pioneer Bank offers a wide range of financial services for business and individuals, going beyond traditional bank accounts to offer insurance, investment assistance, and real estate title services. Customers can open a Real Property Tax Escrow Account to make their property tax payments.

The bank offers credit cards, student loans, auto loans and real estate loans including mortgage loans and home equity loans. Calculators are available online to help customers make financial decisions. Bank representatives offer financial planning assistance.

All customers of Pioneer Bank can sign up for online banking, allowing instant access to bank balances and the ability to pay bills, transfer funds and sign up for eStatements and email alerts.

Financial products

Pioneer Bank offers a broad range of deposit accounts for customers including a choice of a statement or passbook savings account.

Customers can open a money market account and there are several options for a checking account and certificate of deposit (CD). In addition, the bank participates in a CDARS program which allows customers to open several CDs at various institutions under a single account at Pioneer Bank.

Pioneer Bank offers IRAs and Coverdell Education accounts in addition to traditional savings accounts.

Deposit insurance

Pioneer Bank has been insured by the Federal Deposit Insurance Corporation since 1972. FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor in July 2010. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

Compare savings account interest rates from Pioneer Bank and hundreds more banks and credit unions at SavingsAccounts.com.