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 At Northway Bank we understand and value the importance of saving
money. Whether you’re saving for retirement, your children’s education,
a special “big ticket” purchase or just saving for a rainy day...we
have an account or program to help you meet your goals.
Statement Savings
Our Statement Savings Account provides an easy, convenient way to make
your money grow, and gives you access to convenient electronic banking
services such as telephone transfers. All of your account activity is
recorded on a convenient statement that you receive either monthly or
quarterly. Six pre-authorized, telephone or automatic transfers or
withdrawals per statement cycle to other Northway accounts or third
parties are allowed.
Passbook Savings
Nowadays, most banks don't offer passbook savings accounts. But many
people still enjoy the convenience, simplicity, and feeling of security
they get from passbook savings. That's why we offer you a passbook
savings option. Just bring your passbook into the bank to have your
account activity recorded.
Certificates Of Deposit (CDs)
If you’re looking for our highest rates of return in a secure, insured
investment, consider our Certificates of Deposit. You have complete
flexibility to choose the term of your investment, from seven days to
five years. Your interest rate is fixed until maturity, so you get a
guaranteed return on your money. And with FDIC insurance there’s simply
no safer place for your money. We’ll notify you as your CD approaches
maturity, giving you the option of renewing your CD at the prevailing
rate or transferring funds.
Individual Retirement Accounts (IRAs)
An IRA can be an important part of a careful retirement plan. If you
qualify for an IRA, we offer you a variety of investment accounts, and
the interest you earn is tax-deferred until you begin to make
withdrawals. Plus, if you qualify, your entire contribution may be
tax-deductible (consult your tax advisor concerning contribution limits
and tax deductibility).
Savings Clubs
Whether you're saving for the holidays, tax-time or any other reason,
Northway Bank has a savings club to help you reach your goals. These
simple passbook accounts make it easy to save for the following year.
Once you get your annual check, your account stays open so you can
start saving again right away.
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