Community-focused bank serving Central Iowa with checking, savings, mortgages, loans, and online banking since 1914. FDIC-insured with branches in Adel, Dallas Center, Grimes, and Perry.
Editorially reviewed by Harvey Brooks
Raccoon Valley Bank was founded in 1914 and has been family-owned by the Garst family since 1968. The bank operates as a locally-rooted community bank serving Central Iowa, with a stated mission to provide personalized banking solutions and build relationships with customers. Leadership emphasizes the bank's commitment to understanding its community's financial challenges and needs. The organization positions itself as neither too large nor too small, focusing on personal service and local decision-making.
The bank offers a comprehensive range of retail banking services including personal and business checking accounts, savings accounts, mortgages, commercial loans, and online/mobile banking. They provide deposit applications, loan applications, mortgage applications, and financial calculators on their website. Customers have access to fee-free ATMs at Raccoon Valley Bank locations and through the MoneyPass network. The bank also advertises a free credit monitoring service (3 months free, then $5/month).
Raccoon Valley Bank differentiates itself through its community bank model, emphasizing long-standing relationships, local ownership, and active community involvement. The bank reports providing significant annual charitable donations and encourages employees to volunteer and serve on local boards. Their marketing emphasizes knowing customers personally and making decisions in customers' best interest rather than purely profit-driven motives. The tagline "just right for you" and "not too big, not too small" positions them as an alternative to larger national banks.
As a regional community bank, Raccoon Valley serves a specific geographic area (Central Iowa) and may have limited products compared to national banks. Their strength lies in personalized service and local decision-making rather than cutting-edge financial technology or extensive product lines. The bank is FDIC-insured, providing standard deposit protection. For consumers in their service area seeking relationship-based banking, they represent a viable option, though those needing specialized financial products or nationwide convenience may find limitations. Many banks offer installment loans with fixed monthly payments, giving borrowers a clear payoff timeline.
Yes. Raccoon Valley Bank is a registered company headquartered in Perry, IA, founded in 1927. They hold a rating with the Better Business Bureau.
Account opening typically takes 1-3 business days. Loan decisions vary by product.
CreditDoc Diagnosis
Raccoon Valley Bank is best for Central Iowa residents and business owners who value relationship-based community banking, personal service, and local ownership over digital convenience or advanced financial technology. The main caveat is strict geographic limitation to four Iowa locations (Adel, Dallas Center, Grimes, Perry), making them unsuitable for those outside their service area or those requiring nationwide branch/ATM access.
LendingClub is a digital marketplace bank offering personal loans up to $60,000, auto refinancing, and award-winning checking/savings accounts with no physical branches.
Best for: Borrowers with good-to-excellent credit seeking competitive personal loan rates, Credit card debt consolidators looking for fixed-rate alternatives
Security Service FCU is a San Antonio-based federal credit union founded 1956 with $13B+ in assets. NCUA insured. 70+ branches in TX, CO, UT. BBB A+ accredited. Originally serving military/federal employees.
Best for: San Antonio area residents and military personnel seeking credit union banking, Consumers wanting NCUA-insured deposits and competitive loan rates
Texas-based federal credit union offering checking, savings, auto loans, mortgages, and home equity products with a mobile-first approach and member-focused service model.
Best for: Texas residents seeking a digital-first banking experience with a mobile-optimized platform, Auto loan refinancers looking to lower existing rates through credit union partnerships
Learn what makes up your credit score, how it's calculated, what the ranges mean, and how to check yours for free.
Read guide →Your credit report contains the raw data behind your score. Learn what's in it, how to read it, and how to dispute errors that could be dragging your score down.
Read guide →Klarna, Afterpay, Affirm — they make spending easy. But what happens to your credit score when you use them? Here's what the fine print doesn't tell you.
Read guide →Affiliate Disclosure: CreditDoc may earn a commission when you click links to Raccoon Valley Bank and other services. These commissions help us maintain our free research. Our editorial team independently evaluates all services. Compensation does not influence our ratings or rankings. Learn more.