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FDIC-Insured - Backed by the full faith and credit of the U.S. Government
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.
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:
| Account Name | Minimum Opening Deposit | Minimum Balance Required to Earn APY(a) | Interest Rate | APY(a) |
|---|---|---|---|---|
Account Name 91 Day Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 1.00%
| APY(a) 1.00%
|
Account Name 182 Day Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 2.23%
| APY(a) 2.25%
|
Account Name 1 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 2.23%
| APY(a) 2.25%
|
Account Name 2 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 2.97%
| APY(a) 3.00%
|
Account Name 3 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 2.48%
| APY(a) 2.50%
|
Account Name 4 Year Certificate * (with Rate Protection) (b) (e) (f) | Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 2.48%
| APY(a) 2.50%
|
Account Name 5 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 2.97%
| APY(a) 3.00%
|
a. APY refers to Annual Percentage Yield. Annual Percentage Yield assumes interest will remain on deposit.
b. The Interest Rate and Annual Percentage Yield (APY) may change after account opening.
c. Interest Rates and APYs are accurate as of the noted effective date and are subject to change without notice.
e. A penalty will be imposed for early withdrawal.
f. 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.
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:
| Account Name | Minimum Opening Deposit | Minimum Balance Required to Earn APY(a) | Interest Rate | APY(a) |
|---|---|---|---|---|
Account Name 91 Day Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.70%
| APY(a) 3.75%
|
Account Name 182 Day Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.70%
| APY(a) 3.75%
|
Account Name 1 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.70%
| APY(a) 3.75%
|
Account Name 2 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.45%
| APY(a) 3.50%
|
Account Name 3 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.21%
| APY(a) 3.25%
|
Account Name 4 Year Certificate * (with Rate Protection) (b) (e) (f) | Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.21%
| APY(a) 3.25%
|
Account Name 5 Year Certificate (e)
| Minimum Opening Deposit $ 2,000.00
| Minimum Balance Required to Earn APY(a) N/A
| Interest Rate 3.45%
| APY(a) 3.50%
|
a. APY refers to Annual Percentage Yield. Annual Percentage Yield assumes interest will remain on deposit.
b. The Interest Rate and Annual Percentage Yield (APY) may change after account opening.
c. Interest Rates and APYs are accurate as of the noted effective date and are subject to change without notice.
e. A penalty will be imposed for early withdrawal.
f. 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.
At Mutual, we’re committed to helping you save for retirement by providing the investment products and information you need. Our expertise and several types of IRA’s will make planning for your retirement as simple as possible.
An IRA is a powerful wealth-building tool everyone can take advantage of. We have the tools to assist you with;
Talk with our Personal Banker to learn which plan is best for you.
*Consult your tax advisor regarding your tax needs.
HSA’s are a special tax favored savings/investment accounts designed to fund medical expenses not covered by insurance. They were created by the Medicare Prescription Drug, Improvement, and Modernization Act passed in December of 2003.
Health Savings Accounts (HSA’s) are modeled after Individual Retirement Accounts (IRA’s). Money for medical expenses can be deposited tax free, can grow tax free, and can be spent for medical expenses tax free.
Unlike other medical reimbursement accounts, there is not a “use it or lose it” catch. The money can stay in your account until you need it. This feature makes the HSA especially valuable for helping you save for medical expenses this year but also into retirement.
Our bankers have received in-depth training on HSA’s. We can help you determine if such a plan is right for you.