Citizens Savings Bank and Trust review: Minority-owned bank that refunds all ATM fees

The bottom line: Citizens Savings Bank and Trust is a good bank if you live in Tennessee and travel regularly. It has branches in Memphis and Nashville, and it refunds domestic and international ATM fees.

Overall bank rating

Pros and cons

Savings

Citizens Savings Bank and Trust Company Personal Savings Account

Contact customer support by calling or visiting a branch Monday through Friday. Exact hours depend on the location.

Your deposits are FDIC insured for up to $250,000, or up to $500,000 for joint accounts.

Is Citizens Savings Bank and Trust trustworthy?

Citizens Savings Bank and Trust Company does not have any public controversies.

The Better Business Bureau gives Citizens Savings Bank and Trust an A+ in trustworthiness. A strong BBB grade indicates a company advertises honestly, responds effectively to customer complaints, and is transparent about business practices.

A good BBB grade doesn’t guarantee you’ll have a smooth relationship with a bank, though. You still may want to read online customer reviews or ask family and friends about their experiences with Citizens Savings Bank and Trust.

How Citizens Savings Bank and Trust compares to similar institutions

We’ve compared Citizens Savings Bank and Trust to two other minority-owned institutions in Tennessee: Hope Credit Union and Tri-State Bank of Memphis.

Citizens Bank	Hope Credit Union	Tri-State Bank of Memphis
TN locations 2 (Memphis, Nashville)	TN locations 4 (Memphis)	TN locations 1 (Memphis)
Standout feature ATM refunds	Standout feature Higher rates	Standout feature Online tools
Open an account	Open an account	Open an account

Citizens Savings Bank and Trust vs. Hope Credit Union

Hope Credit Union doesn’t have any Tennessee branches outside of Memphis, so Citizens Savings Bank and Trust is the clear choice if you live in Nashville.

You may prefer Citizens Savings Bank and Trust if you travel, because the bank refunds ATM fees within the US and overseas. But Hope Credit Union has a high-yield checking account and pays higher savings rates. So if interest rates are your priority, Hope is a good choice.

Citizens Savings Bank and Trust vs. Tri-State Bank of Memphis

You’ll want to go with Citizens Savings Bank and Trust if you live in Nashville, because the Tri-State Bank of Memphis is only in Memphis.

Unlike Citizens Savings Bank and Trust, Tri-State Bank doesn’t reimburse ATM fees — but it is part of the Money Tower Network, which has over 300 free ATMs around Tennessee. Tri-State Bank also has convenient online tools such as a test to figure out what CD term is right for you, a home budget plan, and a test for learning how much car you can afford.

About the author

Laura Grace Tarpley is an editor at Personal Finance Insider, covering bank reviews and guides. She is also a Certified Educator in Personal Finance (CEPF). Over her five years of covering personal finance, she has written extensively about ways to save.

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