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PurePoint Financial

Goals

Provide a deep dive of PurePoint Financial, including their recent news, rankings, key products, and competitive positioning.

Early Findings

News

  • The only press release by PurePoint Financial in 2019 was about their consumer survey released on February 25th, 2019. In the survey, they found that American's were concerned about the possibility of an upcoming recession and were not saving for the future, mostly since they are living pay check to pay check.

Rankings

  • NerdWallet gives PurePoint Financial a rating of 3.5 out of five stars, due to the fact that they have no checking account option, have high minimum deposit requirements, and have few branches with no ATM access.
  • Bankrate gives PurePoint Financial a rating of 3.4 stars out of five, based on their lack of mobile app, high minimum savings deposit, and lack of checking account.

Key Products

  • PurePoint financial offers two products: high-yield savings accounts and Certificates of Deposits (CDs).
  • Their savings accounts offer a rate of 1.80% APY, but require a $10,000 minimum deposit to open.
  • Their regular CDs offer rates from 1.70% to 2.05% for terms of six to sixty months. They also require a $10,000 minimum deposit.
  • Their no-penalty CDs, which allow the owner to withdrawal the entire amount with no penalty, offer rates of 1.65% to 1.75% and terms of 11, 13, and 14 months. They also require a $10,000 minimum deposit.

Competitive Positioning

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