PERSONAL » Savings/CDs
Savings Solutions
According to the US Commerce Department in December 2005, "Americans save less than 1% of their earnings annually."
Saving starts with the first deposit, and at Northeast, we make it easy for you to get started. Whatever your needs, a new car or RV, dream vacation, new home, emergency fund, education or retirement, they are all great reasons to start a savings plan today. And, our savings products are designed to fit into your budget.
Benefits |
Savings | Certificate of Deposit | Club Accounts |
Minimum to open |
$100 | $500 | $2 |
Minimum balance to waive fee |
$100 | N/A | N/A |
Monthly fee |
$1 | N/A | N/A |
Interest |
YES! See rate sheet | YES! See rate sheet | YES! See rate sheet |
ATM Accessible |
YES! | N/A | N/A |
Regular Savings
You have several regular savings account options. Track your progress monthly with a Statement Savings Account, and enjoy ATM access too! Our Youth Saver is a fee-free account offered to young people under the age of 18, to start good savings habits early. Passbooks are still available as well, to help track and watch your money grow.
Certificates of Deposits
Make your money work for you! Certificates of Deposit (CDs) earn higher interest rates than many other accounts, and are fixed according to the length of time (term) you choose to hold the CD. Fixed and variable rates are available to help you manage your earnings, and you tell us how long you have, with terms from 30 days up to 5 years, and we'll tailor your CD to meet your schedule.
Club Accounts
What you don't see, you don't miss. Christmas Clubs and All Purpose Clubs can help you start saving with a fixed payment plan. The total amounts you save are up to you. Payments can be made with a coupon book, or better yet, take advantage of an automatic withdrawal from your checking account. Over time you can save up for large purchases, a dream vacation, taxes—you name it!
Money Market
Enjoy the best of both worlds: higher interest rates than a traditional savings account, plus check writing ability! Click here to check out our latest rates.
Tax Advantaged Solutions
Individual Retirement Accounts (IRA)
Whether you need a Regular, Spousal, Roth or SEP IRA, Northeast has the options you want for your retirement account. And if you're not sure which is best for you, our experts in Retirement Planning can help.
Health Savings Accounts (HSAs)*
Beat the high cost of health care by starting a Health Savings Account, which will help cover future medical expenses. Health Savings Accounts are money market accounts designed to help people with high insurance deductibles pay for out-of-pocket medical costs.
Coverdell Education Savings Account (CESA)*
A CESA is a non-deductible account which features tax-free distributions, providing that the funds are used for educational purposes. Best of all, anyone can contribute to a CESA.
529 Plans*
Another way to save for your family's future education needs, 529 Savings Plans are designed to help you get unsurpassed income tax breaks. Your investment grows tax-deferred, and distributions to pay for the beneficiary's college costs come out federally tax-free.
As with any tax and retirement planning investment accounts and plans, make sure to speak with a qualified Financial Consultant.
Through our subsidiary, Northeast Financial, you have access to our team of financial experts. With us it's personal, and that's why our savings, money market and tax-advantaged accounts are far from ordinary, all designed with your unique needs in mind. Ask today for more information and get started on your road to financial freedom.
*Restrictions may apply