S-Bank recently made big rate increases on its long-term CDs. These are now very competitive. They include a 2.00% APY for 4-year and 5-year terms and a 1.51% APY 3-year CD. Minimum deposit is $1,000. These rates are listed in the bank's term certificates rates page as of 10/5/2012.
The bank has an online account application, but the instructions say that you must visit the bank for ID verification and to make your initial deposit.
S-Bank branches are located in the Massachusetts cities of Quincy, Hanover, Weymouth and East Bridgewater.
The bank isn't in the best financial shape. It has an overall health score at DepositAccounts.com of 2 stars (out of 5) with a Texas ratio of 39.92% (below average) based on June 2012 data. Please refer to our financial overview of S-Bank for more details. The bank has been a FDIC member since 1986 (FDIC Certificate # 26575). The bank is also a member of the Share Insurance Fund (SIF). SIF is a private fund which insures all deposits at co-operative banks in Massachusetts above FDIC limits.
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