Personal Savings Accounts

Saving is important for everyone. While it’s not always the easiest thing to do, we offer creative, yet simple solutions to one of your greatest financial needs.

Summit Savings
The simplest of solutions is often the best. The Summit Savings account is an easy and flexible account which allows you to deposit and withdraw money anytime while earning interest.

Here are all the features of this account:

  • Earns Interest
  • Free ATM Card
  • Free Internet Banking and Online Bill Pay
  • Quarterly Statements
  • No Monthly Fee if Minimum Balance of $200 is Maintained
  • Free Preauthorized Transfers*

Summit Money Market
Summit’s Money Market account allows you to earn interest like a savings account while allowing a limited amount of transactions per month. In addition, the interest rates on this account are tiered, so as your balance goes up, so does the interest you earn!

Here are all the features of this account:

  • Free VISA Debit Card
  • Free Internet Banking and Online Bill Pay
  • Monthly Statements
  • Free Checks
  • Write Up to Six Checks Per Month*
  • Unlimited Cash Withdrawals or Transfers in Person
  • No Monthly Fee if Minimum Balance of $2,500 is Maintained

Summit Minor Savings
It only takes $5 to teach your children and grandchildren about the road to financial security. With $5, your children and grandchildren can open a Summit Minor Savings account and begin learning valuable lessons about money management.

  • Must be under eighteen years of age and primary account holder to avoid service charge
  • Quarterly interest and statements

Summit Certificates of Deposit
Certificates of Deposit (CDs) allow you to invest money and maximize your interest rate by agreeing to deposit your money for a longer period of time. Summit offers a variety of CDs with flexible terms to fit your timeframes and budget. Separate interest rates available for Jumbo Certificates of Deposit ($100,000 or more). Penalty will be imposed for early withdrawals.

Click here for more information on access to multi-million dollar FDIC coverage.

Term Certificates

 

  • Minimum deposit of $500
  • Terms three months and up
  • Rate and compounding may vary by type and term

 

CDARS
Through the CDARS® service, we are part of a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the network - in increments of less than the standard FDIC insurance maximum - so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.

  • Full FDIC Insurance
  • One Bank, One Rate, One Statement
  • No fees
  • No collateralization
  • Wide variety of maturities
  • Community investment

 

Click here for more information on access to multi-million dollar FDIC coverage.

Funds may be submitted for placement only after a depositor enters into an agreement with us. CDARS is a registered service mark of Promontory Interfinancial Network, LLC. General 10/08

*Federal Regulation D limits the number of preauthorized, automatic, telephone, electronic (including ACH), online, debit card and other transfers and withdrawals not made in person or by ATM, to six per month. A $10 fee per debit is assessed beyond six.