Savings

Minimum Balance RequirementOnline  & Mobile Banking with Bill Pay*Interest EarningDebit Card with Rewards ProgramOverdraft Protection**Automatic WithdrawalsAdditional Features / Requirements
Dream BookMinimum balance of $50Balance and Deposits OnlyYesNoN/ANoWithdrawals can only be processed when the book is present
Money MarketMinimum balance of $100Yes***YesYes***YesYesTiered interest rate;
Limit of six pre-authorized transfers per month
Christmas Club$1Balance and Deposits OnlyYesNoN/ANoNo withdrawals permitted;
Account balance disbursed in October
Certificate of Deposit$500NoYesNoN/ANoWithdrawals of principal prior to maturity date may cause a penalty
Statement Savings (for ages 16-25)$1Yes***YesYes***YesYesTiered interest rate;
Limit of six pre-authorized transfers per month
Add-on Certificate of Deposit (for ages 16-25) 24-month term$100NoYesNoN/ANoAdd-on deposits of at least $10;
Withdrawal penalties waived for valid education expenses, a first-time home purchase, a car loan, or at the age of 26
Add-on Certificate of Deposit (for all ages) 33-month term$500NoYesNoN/ANoAdd-on deposits of at least $25;
Automatic renewal is not eligible for add-on deposits

*Bill Pay is free for the first 25 transactions per statement cycle.
**Overdraft protection is an discretionary feature that may not be available immediately on new accounts and may charge additional fees.
***Counts as one of the six pre-authorized transfers allowed each statement cycle. Other transactions considered to be "Pre-authorized Transfers" include: POS transactions using a Debit card, ACH debits, online banking transfers out, 522-BANK transfers out, checks clearing the account.

We Salute You

For active duty and veteran military service men and women, one account with direct deposit is eligible for the We Salute You program, which offers specialized benefits for our local servicemen and women with proof of military service. Benefits include: ATM fee forgiveness for active duty military personnel (up to 4 per month), no minimum balance requirements, no service fees, free basic checks, free Cashier's Checks, a 0.10 % bump up on new CD rates, and confidential document destruction. Please ask us for more information about the We Salute You program, including how to register an existing account.

Dream Book

A convenient, easy-to-maintain account that allows you to save for your dreams with low minimum balance requirements.

  • Minimum balance of $50
  • Only $5 needed to open the account
  • Withdrawals can only be processed when the book is present
  • Deposit to the account online
  • Choose a Dream Book cover design to match your dream or customize your own
  • One $6 service charge per month, if the balance drops below $50
  • Direct deposit

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Money Market

A tiered interest rate account preferred by those looking for preauthorized transfers, automatic withdrawals, and/or debit card availability.

  • Minimum balance of $100
  • Only $5 needed to open the account
  • One $8 service charge per month, if the balance drops below $100
  • Online and Mobile Banking with Bill Pay**
  • eStatement eligible
  • Tiered interest rate
  • Direct deposit
  • Automatic withdrawals
  • Debit card with rewards
  • Unlimited transfers by mail, ATM, or in person
  • Limit of six pre-authorized transfers per month

**Counts as one of the six pre-authorized transfers allowed each statement cycle. Other transactions considered to be "Pre-authorized Transfers" include: POS transactions using a Debit card, ACH debits, online banking transfers out, 522-BANK transfers out, checks clearing the account. Bill Pay is free for the first 25 transactions per statement cycle.

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Christmas Club

Perfect for anyone who wants to make saving for the holidays easy! No minimum deposits are required.

  • Only $1 needed to open the account
  • Saving made simple!
  • Interest-bearing account
  • Account balance disbursed in October by either check or direct deposit

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Certificate of Deposit

With a diverse selection of terms available ranging from 91 days to 120 months, our certificates of deposit are a great way to save while earning a higher interest rate.

  • $500 to open
  • Can withdraw interest after crediting
  • A wide variety of interest payment options available
  • Withdrawals of principal prior to maturity date may cause a penalty

Our featured Opportunity CD allows the interest rate to be exchanged one time during the term for current published Mechanics Bank Certificate of Deposit (CD) rate for like term.

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Statement Savings

A tiered-interest savings account designed specifically for young adults ages 16 through 25 with no minimum balance required.

  • No service charge
  • Only $1 needed to open and sustain the account
  • Online and Mobile Banking with Bill Pay**
  • Direct deposit
  • Can link to an existing debit card
  • Automatic withdrawals
  • Unlimited transfers by mail, ATM, or in person
  • Limit of six pre-authorized transfers per month

**Counts as one of the six pre-authorized transfers allowed each statement cycle. Other transactions considered to be "Pre-authorized Transfers" include: POS transactions using a Debit card, ACH debits, online banking transfers out, 522-BANK transfers out, checks clearing the account. Bill Pay is free for the first 25 transactions per statement cycle.

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Add-on Certificate of Deposit (ages 16-25)

This flexible certificate for young adults ages 16-25 allows for a lower opening deposit and the ability to add on funds at any time. Early withdrawal penalties may be waived for education expenses, a first-time home purchase, a car loan, or at the age of 26.

  • Only $100 to open
  • Add more money any time
  • Minimum $10 deposit
  • 24-month term

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Add-on Certificate of Deposit (all ages)

This flexible certificate allows the ability to add on funds at any time.

  • $500 to open
  • Add more money any time
  • Minimum $25 deposit
  • 33-month term; Automatic renewal is not eligible for add-on deposits

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