A weak bank or thrift represents a potential for financial loss to its depositors, as well as a number of headaches and hassles for both its depositors and borrowers. And if a failed institution is taken over by another bank, customers can be forced to accept lower interest rates on their CDs or even lose an existing line of credit.
That's why it is important to check the financial security offered by a financial institution prior to opening an account and then periodically monitor the company's condition going forward. Low-rated banks and thrifts should be avoided in favor of highly rated companies.
The following U.S. banks and thrifts received the highest ratings from Weiss Ratings.
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The following U.S. banks and thrifts received the lowest ratings from Weiss Ratings.
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Just because a particular institution does not appear on this list of lowest rated banks and thrifts, it does not necessarily mean that the company is safe or highly rated. To check the rating of a specific institution, Weiss Ratings offers several online options and publications covering all commercial banks, savings banks, and savings and loans.
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For more information about Weiss Ratings and our products, contact our Customer Hotline at 1-800-289-9222.
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