|Statement Savings||Your Choice Savings||Ultimate Savings||Certificate of Deposit||Money Fund|
A Statement Savings account is an interest bearing savings account in which a monthly statement is rendered.
An interest bearing account which allows you to choose your quarterly payout date. A way to save for yearly events such as: holidays, taxes or that special occasion such as a wedding, a new home or a vacation.
A higher rate interest bearing savings account for customers who have one of our Ultimate Checking accounts.
An interest bearing time deposit account in which rates are higher than a savings account and fixed for the term of the certificate.
Machias Savings Bank is pleased to be a participating member in the Certificate of Deposit Account Registry Service (CDARS). As a member of this service, Machias Savings Bank is able to offer clients a single financial institution in which to place their certificates of deposit that exceed the FDIC insured limit. With CDARS, Machias Savings Bank opens the client’s CD in the desired term, in increments of $250,000. Available FDIC coverage is then borrowed from other association banks across the country in order to insure the client’s full CD amount for the entire term of the CD. This system enables clients to maintain CDs at one financial institution instead of spreading them across multiple banks in order to take advantage of FDIC coverage.
Our Money Fund account is a tiered interest bearing savings account that offers higher interest rates and gives you the option of not tying up your money for an extended period of time.