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Checking, Savings, CDs, and IRAs

  • Simply Free Checking

    • A checking account with no minimum balance requirements and no monthly service fees. The Simply Free Checking account is tailored for individual or joint personal checking accounts and non-profit organizations. A minimum of $50.00 is required to open the account.
  • Regular Checking

    • A checking account with low minimums and unlimited check writing. A minimum of $100.00 is required to open the account and the $5.00 monthly service fee may be waived by maintaining a minimum daily balance of $100.00 or by electronic deposit of payroll or federal recurring payment (i.e. Social Security, pension, etc.). There are no transaction fees associated with this account.
  • Settlers Select Checking

    • An interest-bearing checking account for those who write numerous checks and keep a moderate balance. A minimum of $100.00 is required to open the account and a $7.00 monthly service fee may be waived by maintaining a minimum daily balance of $300.00. Tiered interest rates are available with interest credited monthly and compounded monthly. This account comes with one free order of 120 Settlers Select checks annually. Three free Money Orders per statement cycle, then $5.00 for each additional Money Order. There are no transaction fees associated with this account.
  • Settlers Select 55

    • An interest-bearing checking account package for customers aged 55 years and older. A minimum of $100.00 is required to open the account and there are no monthly service fees or minimum daily balance requirements associated with this account. Tiered interest rates are available with interest credited monthly and compounded monthly. This account comes with one free order of 120 Settlers Select 55 checks annually. Three free Money Orders per statement cycle, then $5.00 for each additional Money Order. There are no transaction fees associated with this account.
  • Investor Plus Money Market Account

    • An interest-bearing account for individuals or businesses that occasionally write checks and desire a higher rate of interest on their investment. A minimum of $1,500.00 is required to open this account and a $7.00 monthly service fee may be waived by maintaining a minimum daily balance of $1,500.00. Six transactions per month are permitted and a $10.00 excess transaction fee will be assessed if you exceed transaction limits during any statement period. Tiered interest rates are available with interest credited monthly and compounded monthly. One order (40 checks) of free printed checks are provided at time of account opening.

All Settlers Bank Consumer Checking Account customers have access to no-fee, 24-hour touch-tone banking, no-fee Online and Mobile Banking, and no-fee Internet Bill-Payment Service. Qualified account holders may receive a no-fee ATM or Visa debit card. Visa debit cards may be added to a mobile wallet via Apple Pay, Android Pay, or Garmin Pay. Ask a customer service representative for details.

  • Statement Savings

    • An interest-bearing personal account for customers who wish to earn interest on their funds that may be deposited or withdrawn at will. A minimum of $100.00 is required to open this account, unless the depositing customer is a minor (under 18 years old), then the required minimum deposit to open is reduced to $10.00. A $3.00 monthly service fee may be waived with a minimum daily balance of $100.00. The monthly service fee is automatically waived for minors (under 18 years old). Tiered interest rates are available. Interest is compounded and credited quarterly and earned only on balances of $100.00 or more. Per Regulation D from the Federal Reserve, six transactions per month are permitted and a $10.00 excess transaction fee will be assessed if you exceed transaction limits during a month. An excess withdrawal fee of $0.50 will be assessed for each ATM withdrawal or over the counter withdrawal in excess of eight during the calendar month. Qualified account holders can receive an ATM card associated with their account.
  • Settlers Savings Club

    • An interest-bearing account designed for individuals who want to save for a particular occasion, such as Christmas or for a vacation. Flexible weekly payment plans are available ranging from $5.00 to $50.00. Payments are electronically deducted from a Settlers Bank checking or savings account each Friday until the maturity date of your savings club. No coupon books or deposit slips are necessary. The account automatically renews each year unless terminated by the customer. Accounts are opened in October and an early closing fee of $10.00 will be assessed if the account is closed prior to the end of club term. Interest is accrued daily and credited to your deposit account at the end of the club term. Interest rates may vary.
  • Certificates of Deposit (CD)

    • CDs are interest-bearing deposit accounts for individuals or businesses that wish to earn a greater rate of interest than available through a regular savings account without committing to a long-term investment. Terms of CDs range from 3 months to 5 years. There is no monthly service fee on a CD, and the account must stay open through the contracted term to avoid an early withdrawal penalty. Interest rates offered vary with market conditions and are compounded quarterly. Interest earned may be paid by check, deposited into a Settlers Bank checking or savings account, compounded, or deposited into an account at another financial institution.
  • IRA CDs

    • Individual Retirement Accounts (IRAs) are special tax-deferred savings plans authorized by the federal government to encourage you to accumulate money for retirement. Many taxpayers are eligible to make annual contributions to these plans. If you are eligible to receive a lump sum distribution from your retirement plan you may be able to defer taxes by depositing the funds directly into an IRA. Settlers Bank offers Certificates of Deposit as an investment vehicle for IRAs. You may invest in one IRA CD or a series of IRA CDs with varying maturities. We can set up your IRA CD to pay a monthly, quarterly, or annual distribution amount by check, deposited into a Settlers Bank checking or savings account, or deposited into an account at another financial institution. Please contact us for more details. Care must be taken when dealing with IRAs and retirement plans to make certain that all tax consequences are considered. Consult with your tax advisor for more details about the use of IRAs and your eligibility to use this valuable retirement planning tool.