The bank has long offered a reward checking account. In 2007 it started out with a 6.01% APY for balances up to $100K. The rate has fallen considerably, and it's now 2.75% APY for balances up to $50K (see post).
Readers have reported being told by the bank that you must live within 50 miles of a branch, and the accounts must be opened in the branch. Branches are located in Fitchburg, Leominster, Harvard and Townsend, Massachusetts.
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank was established in 1846 and has been a FDIC member since 1957 (Certificate # 17797).
Other Competitive Certificate of Deposit Rates