Certificate of Deposit

Why settle for a CD when you can have a CRA! At Mutual Savings we call our certificates of deposit and savings accounts Community Reinvestment Accounts.

Community Reinvestment Account (CD)

When you invest with us you know your money will stay at home, working to make your community a better place to live and work. It will be used to finance the homes, cars and businesses of your neighbors; not transferred to a remote location to be invested in who knows what. At Mutual Savings every single dollar of our retail deposits have been reinvested in the communities we serve. Not very many banks can say that; even locally-owned ones. Our CDs are:

  • Competitive minimum opening deposit of $2,000.00
  • Competitive interest rates
  • Fixed terms ranging from 91 days to 5 years
  • Our Breakeven Analysis can assist your decision making

Effective Date: 03/22/2023 (c)

Current Savings and CD Rates

Account NameMinimum Opening DepositMinimum Balance Required to Earn APY (a)Interest RateAPY (a)
5-Star Money Market (b) (d)
$50.00
$0.00 to $4.999.99
$5,000.00 to $24,999.99
$25,000.00 to $249,999.99
$250,000.00 to $999,999.99
$1,000,000.00 and over
0.15%
0.45%
1.99%
2.23%
2.62%
0.15%
0.45%
2.00%
2.25%
2.65%
Member Savings Account (b) (d)
$50.00
$0.00 to $14,999.99
$15,000.00 & Over
0.25%
0.50%
0.25%
0.50%
CAP "Rainy Day Fund" (b) (d)
$500.00
$500.00 & Over
1.24%
1.25%
Statement Savings IRA
($100 to $249) (b)
$50.00
$100.00 to $249.99
$250.00 to $999.99
$1,000.00 & Over
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
 91 Day Certificate (e)
$ 2,000.00
N/A
1.00%
1.00%
182 Day Certificate (e)
$ 2,000.00
N/A
2.48%
2.50%
1 Year Certificate (e)
$ 2,000.00
N/A
2.48%
2.50%
2 Year Certificate (e)
$ 2,000.00
N/A
2.97%
3.00%
3 Year Certificate (e)
$ 2,000.00
N/A
2.48%
2.50%
4 Year Certificate * (with Rate
Protection) (b) (e) (f)
$ 2,000.00
N/A
2.48%
2.50%
5 Year Certificate (e)
$ 2,000.00
N/A
2.97%
3.00%

  1.  APY refers to Annual Percentage Yield. Annual Percentage Yield assumes interest will remain on deposit.
  2.  The Interest Rate and Annual Percentage Yield (APY) may change after account opening.
  3.  Interest Rates and APYs are accurate as of the noted effective date and are subject to change without notice.
  4.  Fees and Service Charges can reduce the earnings on an account.
  5.  A penalty will be imposed for early withdrawal.
  6.  Rate Protection – This 4 year certificate offers maximum protection against fluctuating interest rates. If rates increase, you can adjust your rate up to the current rate offered for the remaining term of your CD….and you can adjust it up twice! Your rate can never go lower than the initial rate or the rate you have adjusted up to.

Certificate of Deposit (CD) Service

If you provide us with the maturity dates of the CD’s you have at other financial institutions, several days before they mature, we’ll call you with our current rates. Better yet, we’ll also provide you with the rates of our local competitors. This will eliminate you having to spend your valuable time doing it. If you are interested, please contact our branch office nearest you, or give us a call. Click here to print out the CD Service Form and mail/bring it by your local branch.