Commercial Savings Options

Regular Savings Account - Earns interest but is a non-transaction account. Customers can access funds by On-line Banking, ATM card, ShazamCheck Debit Card, or Tele-Banker. A minimum deposit of $20.00 is required to open this account. We use a daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. We may change your interest rate and annual percentage yield at any time. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Transactions limitations: Transfer from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six (6) per month with no transfers by check, draft, debit card, or similar order to third parties. If you exceed these limitations, you will be charged $2.00 for each. (Internal automatic transfers are exempt from this fee.)

Individual Retirement Account (IRA)/Health Savings Account (HSA) - Whether it’s a Traditional IRA, Roth IRA, Educational IRA, Self Employment Pension (SEP), or SIMPLE IRA, SSB offers a variety of plans for saving for the future. IRAs are interest bearing, non-transaction accounts. A minimum deposit of $20.00 is required to open a new account. Interest is compounded and paid quarterly. Interest will be credited to your account every quarter. Your interest rate and annual percentage yield may change. We may change the interest rate and annual percentage yield on your account every quarter. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit noncash items (for example, checks). IRA Transaction limitations: You may not make any transfers from this account to another account of yours or to third parties by preauthorized, automatic, or telephone transfer or similar order to third parties. HSA Transaction limitations: No transaction limitations apply to this account. HSA has a $12.00 annual fee.

Certificates of Deposit (CD) - Is a great way to save, both long- and short-term. You choose the term and the interest rate that works for you! SSB’s 24 month term CD offers special features. A minimum deposit of $500 is required. All CD’s are FDIC insured. Interest payments can be credited back to the balance, paid by check, or credited to your checking or savings account. Penalty applies for early withdrawal. Fees can reduce earnings.

Christmas Club Account - Is a convenient and effective way to save for holiday shopping. Saving a little bit each week or month really adds up! This is an interest bearing, non-transaction account. A $1 opening deposit is required. Interest will be credited to your account at maturity. A check for the balance plus accrued interest is mailed at the end of October. We may change your interest rate and annual percentage yield at any time. Interest will not be compounded. If you close your account before interest is credited, you will not receive the accrued interest. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit noncash items (for example, checks)