Savings

A sure way to secure your financial future is by saving today! Traditional Bank offers a variety of savings options to help you reach your short and long-term goals. For complete information about account fees and charges, refer to the Schedule of Services brochure.

Simply Savings

Whether you are putting aside money for a rainy day or a major purchase down the road, this account will help you develop good savings habits while earning interest on your money.

  • $1 minimum opening deposit.
  • $100 minimum balance required to avoid $2 monthly service charge.
  • Interest calculated daily and credited quarterly on your entire collected balance. $1 minimum balance required to earn interest.
  • Up to three withdrawals/transfers each month at no charge.*
  • Statement mailed quarterly or combined with your monthly checking account statement.

Christmas Club Account

Make the holidays a little easier by saving for them all year long. Start saving in November and get a lump sum payment just in time for next year's holiday shopping.

  • $10 Minimum Opening Deposit
  • Interest calculated daily and credited as checks are issued.
  • Checks will be sent the third week in October ($5 early withdrawal charge).*
  • No Service Charge- unless account is closed early. If you close your account before interest is credited, you will not receive the accrued interest.

Money Market Account

This is a great investment vehicle if you want to earn market rates but maintain total access to your money.  This interest-earning account is tiered and allows you to earn near-CD interest rates. Getting to your money is easy as writing a check or visiting an ATM.

  • $2,500 minimum opening deposit
  • $2,500 minimum balance required to avoid $10 monthly service
  • Tiered Interest Earnings-Paid on average daily collected balances of $2,500 and above. As you increase your account balance, you'll earn more! Your interest rate automatically increases based on the following tiers:

           $2,500-$9,999

           $10,000-$49,999

           $50,000-$99,999

           $100,000-$249,999

           $250,000 and up

  • Withdrawals and transfers can be made at any Traditional Bank ATM. You can also transfer funds in and out of your account via Online Banking.
  • Up to six transactions are allowed each month. Unlike a CD, there are no penalties for early withdrawal; however, per item fees are charged for withdrawals exceeding maximum allowed.*

Certificates of Deposit

If you want a guaranteed return on your investment, check into a Traditional Bank Certificate of Deposit. CDs range from 31 days to six years, depending on the term and rate you desire. Contact any of our Traditional Bank locations for information on current and special CD rates.

  • $1,000 minimum investment
  • Interest rates vary according to term of CD.
  • Access and Interest Earnings-receive your interest by check (quarterly, semi annually) or by direct deposit into a Traditional Bank checking or savings account. You can also increase your earnings by depositing your interest back into your CD.
  • Automatic Renewal-Renewal notices sent by mail allow you to renew your CD at the new rate without a trip to the bank or loss of interest. (Note: CDs that do not automatically renew will stop paying interest at date of maturity.)
  • Service Charge-A penalty may be imposed for early withdrawals. Early withdrawal may likewise reduce the annual percentage yield earned.*

Individual Retirement Accounts

Planning for retirement is the most important step you can take toward securing your financial future.  Let Traditional Bank help you establish the appropriate Traditional IRA or Roth IRA to secure your golden years...or perhaps an Education IRA for your children or grandchildren.

Regular contributions may lower your tax bill. Plus, you may be able to earn a higher interest rate than with a non-retirement account. (Consult a qualified tax advisor for tax advice.)

  • No minimum opening deposit
  • Deposits can be made anytime
  • Interest Earnings are calculated daily and credited quarterly to your account on your entire collected balance
  • Penalties for early withdrawals.*
  • Account statements mailed annually.

*For complete information about account fees and charges, refer to the Schedule of Services brochure or ask any Traditional Bank Customer Service Representative.