Overview / Commentary
31780 Telegraph Road
Bingham Farms, MI 48025

Main Street Bank (MI) is headquartered in Bingham Farms and is the 49th largest bank in the state of Michigan. It is also the 2,446th largest bank in the nation. It was established in 2005 and as of September of 2018, it had grown to 98 employees at 2 locations. Main Street Bank (MI)'s savings rates are 3X the national average, and it has an A health rating.

Related Posts

Main Street Bank (MI) Has SLASHED Their Interest Rates According To Webpage - 9/2/2018

APY MIN MAX ACCOUNT DETAILS 2.53% $500 - 60 Month CD down from 3.25% 2.43% $500 - 48 Month CD down from 3.15% 2.23% $500 - 36 Month CD down from 3.00% 2.22% $500 - 24 Month CD down from 2.75% 2.12% $500 - 18 Month CD down from 2.50% 2.02% $500 - 12 Month CD UP from 2.00% 1.26% $500 - 6 Month CD down from 1.75%

Main Street Bank Ups Nationally Available 36-Month CD - 8/20/2018

Main Street Bank (MI) has raised the rates on its nationally available CDs: 36-month (3.00% APY) and 48-month (3.15% APY). Minimum deposit is $500.

View all posts from:

Fantastic Customer Service Bank

This bank goes out of its way to help its cus tomers. I love there Kasasa Cash checking. It is a great checking account with easy requirements to earn a high interest rate. I have worked for 3 banks and I find this bank easy to understand and great interest on all there banking products. If you need help they are a phone call away with live people not recordings. I live in Florida but would not bank daily with any other bank. Love this bank.

Good Bank - Just Make Real Purchases

Don't be scared by the critical reviews. People giving 1 star reviews because they don't like a bank's clearly stated usage requirements are like people leaving bad amazon reviews because they ordered the wrong size.

This is a small bank, so the account opening was a little clunky, but they were friendly and helpful when I called up. CSRs were knowledgeable (work at the bank, not a call center), and gave me accurate information.

No problems getting interest - I simply make regular (mostly small) purchases at the grocery on my way home. I'm actually pleased that they are closing accounts of people coasting by with a bunch of micro purchases made in a short period of time - it makes it more likely they will be able to continue offering a high interest rate for me.

They periodically offer a referral bonus (last one was $50 for both parties), so if you plan to open an account try to contact someone who has an account and can give you a referral.

Wish They Were Easier

Posted by: crocpa | Apr 11, 2016

This bank has friendly responsible staff and they pick up the phone when you call. I wish they were easier to transact with though. Their mobile deposit has a $1.5K limit. The atm daily limit is $300. I recently called to place a claim for a double charge and was told to go back to the merchant. After requesting the account disclosure and 5 emails later was I referred to the branch supervisor to place a claim. I recommend the bank, just wish they would make it easier.

18 Monthe CD Rate Shown Is Not Correct

The 3% APY for an 18 month CD as shown from your search tool is incorrect and not available. If one clicks the on more detailed listing of rates, or if one goes to the bank's website, the APY available is (only) 2.5% for an 18 month CD



Health Grade Components

FDIC Certificate #57878
Year Established2005
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.84%
Return on Equity - YTD9.22%
Annual Interest Income$9.2MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$258.0MM$221.6MM
LoansQ3 2018vs Q3 2017$239.7MM$200.9MM
DepositsQ3 2018vs Q3 2017$215.3MM$192.4MM
Equity CapitalQ3 2018vs Q3 2017$22.8MM$20.7MM
Loan Loss AllowanceQ3 2018vs Q3 2017$1.3MM$1.3MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$544.00K$375.00K
Real Estate OwnedQ3 2018vs Q3 2017$0$0
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Main Street Bank (MI); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Main Street Bank (MI) Savings Account Rates

1.75%$25k$250kCompanion Savings Account
1.00%*-$50kKasasa Saver
OTHER TIERS: 0.50% $50k+
0.75%*$400k*-Main Street Bank Savings Account
OTHER TIERS: 0.15% $100 - $100k | 0.25% $100k - $200k | 0.50% $200k - $400k

Main Street Bank (MI) Money Market Rates

0.50%*$50k*-Money Market Account
OTHER TIERS: 0.10% $2.5k - $25k | 0.30% $25k - $50k
0.50%*$50k*-Business Money Market Account
OTHER TIERS: 0.10% $2.5k - $25k | 0.30% $25k - $50k

Main Street Bank (MI) Checking Account Rates

2.25%*-$25kKasasa Cash
OTHER TIERS: 0.25% $25k+

Main Street Bank (MI) CD Rates

3.25%$500-60 Month CD
3.25%$25k$250k24 Month Companion CD
3.15%$500-48 Month CD
3.00%$500-36 Month CD
3.00%$25k$250k18 Month Companion CD
2.75%$500-24 Month CD
2.50%$500-18 Month CD
2.50%$25k$250k12 Month Companion CD
2.00%$500-12 Month CD
1.75%$500-6 Month CD

Main Street Bank (MI) Locations
Main Street Bank31780 Telegraph RoadBingham Farms, MI 48025
Troy Branch363 West Big Beaver Road Suite 150Troy, MI 48084

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.