Superior Savings Bank Rates & Review

Superior Savings Bank Review

Superior Savings Bank, based in Superior, Wisconsin, offers banking at supermarket branches, by phone, and online.

Located at the western end of the Great Lake sharing its name, Superior Savings Bank was established in 1924 as Superior Savings And Loan Association. The bank operates supermarket and standalone branches in Superior.

The current policy of the bank (Oct. 2010) is to open certain deposit accounts only to residents of Superior and the surrounding area.

Deposit accounts

There are a variety of deposit products available including a money market account. The Statement Savings Account has no monthly fee for balances over $50. Other options include the MoneyMax Account, the Christmas Club Account and a Super Saver Account for kids under 18. The Superior Checking Account earns interest and can be opened with a minimum of $100.

Customers can take advantage of unlimited check writing, Bill Pay and overdraft protection. CD accounts are available for terms ranging from 91 days to 48 months. CD rates also are available for IRAs.

Loan products

Superior Savings Bank offers conventional fixed-rate mortgages and promises quick pre-qualification. The bank also offers auto loans, personal loans, home equity loans and recreational loans. Banking services include travelers checks, money orders, direct deposit and banking by mail.

Deposit insurance

Superior Savings Bank has been insured by the Federal Deposit Insurance Corporation since 1951.

In July 2010, FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

Compare high yield savings accounts from Superior Savings Bank and hundreds more banks and credit unions at SavingsAccounts.com.

Superior Savings Bank is currently participating in the FDIC's Transaction Account Guarantee Program. Under the TAG program, through December 31, 2010, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.