Personal Banking

Savings

HeritageBank offers a variety of savings accounts to meet everyone's needs. Whether you're just starting to save or if you've been saving for years, we offer a savings product to fit your needs. Consider adding funds automatically to your accounts through Direct Deposit or Payroll Deduction.

Regular Savings

Open a HeritageBank account with just $100 and enjoy:

Money Market Advantage

Open a HeritageBank Money Market Advantage account and take advantage of an investment opportunity that provides easy access to your money plus competitive interest rates. You'll enjoy these great benefits:
  • $1,000 minimum opening deposit
  • Tiered interest rates; higher rates for higher balances
  • $1,000 minimum balance to earn interest that is calculated on the daily balance and paid monthly
  • $2,500 minimum balance requirement to avoid a monthly service charge
  • Access your money by making a withdrawal at any HeritageBank office, writing a check1, or through Online Banking
  • First order of checks provided at no charge
1 Up to six transfers per monthly statement cycle with no more than three of the six transfers being made by check or draft.

Heritage Index Money Market

Earn a premium interest rate while still enjoying instant access to your investment dollars. Start enjoying the benefits of our Heritage Index Money Market account today. This account provides high-yield, competitive interest rates that adjust automatically with the market. You’ll enjoy these great benefits:
  • $1,000 minimum opening deposit
  • Tiered interest rates; earn higher interest for higher rates
  • $5,000 minimum balance to earn interest that is calculated on the daily balance and paid monthly
  • $2,500 minimum balance requirement to avoid a monthly service charge
  • Access your money by making a withdrawal at any HeritageBank office, writing a check1, or through Online Banking
  • HeritageBank Checking account required
1 Up to six transfers per monthly statement cycle with no more than three of the six transfers being made by check or draft.

Holiday Club Account

A HeritageBank Holiday Club account allows you to save for special times like the vacation you've always dreamed of or for your holiday shopping.
  • $10 minimum opening deposit
  • $100 minimum balance to earn interest
  • Make easy deposits through payroll deduction if offered by your employer
  • Interest is calculated and paid quarterly on the daily balance
  • Two withdrawals allowed without penalty during the year
  • The account will be automatically activated each year unless notified

Youth Savings Account

It's never too early to learn the basics of financial planning and saving for the future. Anyone under the age of 21 may take advantage of these benefits:
  • $25 low minimum opening deposit
  • $100 minimum balance to earn interest

Certificates of Deposit

Our Certificates of Deposit are designed to fit your investment needs.
  • $500 minimum opening deposit
  • Terms from 90 days to 60 months
  • Interest compounded and credited quarterly on 12 to 60 months
  • Credited at maturity on 90 days to 9 months certificates
  • Penalty may be imposed for early withdrawal

CDARS

Looking for a way to keep large deposits safe? Ask us about CDARS®. It’s a great solution for: businesses * nonprofit organizations * public funds managers * trustees * financial advisors * individuals * credit unions * IRAs.

With CDARS, you can receive up to $25 million in FDIC protection through HeritageBank. There are few guarantees in life — FDIC insurance is one of them. CDARS can be a valuable cash management or longer-term investment tool for you or your business.1

Why CDARS?

It’s one-stop shopping. With help from CDARS, you can access:

  • Safety - Your money can receive up to $25 million in FDIC insurance coverage.
  • Convenience - You work directly with us. You earn one interest rate and receive one regular statement. Individual investors receive one year-end tax form.
  • Community Investment - The full value of your money can support lending opportunities in your local community.2
  • CD-Level Rates - Your money earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds.

How does CDARS work?

We are members of a special network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network — in increments of less than $100,000 — so that both your principal and interest are eligible for complete FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.

These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.

What else should I know?

Now, you no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.

And with CDARS, you can eliminate the need to monitor changing collateral values — another time saving convenience.

Of course, your confidential account information remains protected.

1 Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with HeritageBank. The agreement contains important information and conditions regarding the placement of funds by us. Please read the agreement carefully before signing it.

2 This benefit applies to some, but not all types of CDARS transactions. Let us know if this benefit is important to you, so that we can explain the relevant terms and conditions in more detail.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

Individual Retirement Accounts

There are many things you can do when you retire, and many ways for us to help you fund them.

IRA Savings Accounts (Traditional, Roth or Education)
It's never too early to begin saving for a secure retirement. We can help you reach your retirement goals with our Traditional, Roth and Education IRA Savings plans. Plus, your IRA contributions may be tax deductible - consult your tax advisor.
  • $25 minimum opening deposit
  • Earns competitive interest rates on a minimum balance of $100
  • Interest is calculated on the daily balance, and compounded and credited quarterly
*Early withdrawal penalty applied if the account is closed and not transferred into an IRA plan. Federal law may impose a special penalty tax for the early withdrawal of IRA funds.

IRA Certificates of Deposit
This type of IRA is set up for a specific term and fixed rate as a Certificate of Deposit.
  • $500 minimum opening deposit
  • Terms of 12 to 60 months available on Traditional IRAs and 12 months only on Roth and Education IRAs
  • Interest is compounded and credited quarterly on Traditional, Roth and Education IRA Certificate Accounts
*Penalty may be imposed for early withdrawal of funds before the maturity date. IRA early withdrawal penalty may apply.