Wonder
Log in
Research Outline
Prepared for Valentina B. | Delivered December 18, 2019
PurePoint Financial
Review your project details
Goals
Provide a deep dive of PurePoint Financial, including their recent news, rankings, key products, and competitive positioning.
View less
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 Deposit
s (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
PurePoint Financial has a
competitive advantage
of offering some of the highest annual percentage rates on their savings accounts and CDs.
Competitors include
Citizens Acces
s,
Wings Financial
,
Ally Financial, Synchrony Bank and Goldman Sachs
.
View less