SSBS

If you are moving to Rochester and looking for a bank or credit union, avoid Sterling State Bank and research the others. Sterling State Bank does not care. They do a good job of pretending to care, but they don't.

For example, here is a one star Yelp review.

Comment: I opened a 5 year CD in 2010  and they promised no fees if I held it for the full five years.  Five  years later when it matured, they refused to give me the money until I  agreed to pay a $60 fee.

Sterling Response: Thank you for your feedback. The  limited fees we assess for banking services are fully disclosed,  transparent and regularly reviewed by banking regulators for compliance.  We are committed to our customers and offer fair, transparent, and  affordable banking services to everyone in the communities we serve.

Viewpoints: "Thank you for your feedback" the statement wasn't feedback, it's frustrated criticism.  How about starting with, "Thank you for choosing to invest with us, we are sorry for your experience. We would like the opportunity to personalty discuss your situation."

Typically mature CDs don't have a withdrawal charge. The customer stated the CD was mature after 5 years. They gave Sterling Bank money as an investment.  The bank gets to use the money and when the CD matures, the customer is paid interest from loaning money to the bank. Typically and on the Sterling Bank web site, the only fee applies for early withdrawal. CDs do not have maturation fees, but Sterling  Bank wanted $60 and their public response is a huge red flag. Thanks for nothing and we want our $60!  

These can be long term financial commitments and at one time Sterling was well regarded in the community for their personal service and small bank flexibility. Over time, key employees have moved on. The customer relationships, built by past Sterling executives on a name and a handshake are long gone.