Whether you're managing your employer's funds, a client's savings, or simply looking out for your own well-being, Weiss Ratings is the place to turn for identifying the truly safest financial institutions you'll want to do business with.
Every quarter, we monitor the financial strength of 9,000 commercial banks, savings banks, and savings and loans across the nation. We then issue Financial Strength Ratings based on our analysts' review of publicly available regulatory filings provided by SNL Financial LC.
Unlike the other bank rating agencies, our rating scale is extremely straightforward and easy to understand. There are no complicated number grades to interpret, no colored paper to decode, and no stars to count. Instead, you get a simple, intuitive letter grade that immediately identifies the wheat from the chaff.
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.
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