Rates Just Lowered To 3.01

Quick review: Bad phone hours, but the people are very friendly and helpful. Web site stinks, but the security is robust. Private email service is equally antiquated, but the separate service provides some much appreciated confidentiality.

It's unfortunate, but true. Don't know if I'll jump ship - since I just boarded... Here's the email, titled: "Notice of Rate Change on Free Rewards Checking"

Effective Monday, October 4th, the Rewards Rate APY on our Free Rewards Checking account will be 3.01% -- still one of the best returns around! 

We know how much you love your Free Rewards Checking, and we have some pretty high expectations about how you'll manage your account (i.e., the four qualifications) -- so it only seems fair that we fill you in on how we're managing it. We've kept the rate constant for two and a half years, during a time when interest rates have been at historic lows. Now the time has come to close that gap a little bit, by lowering the rate to something still pretty phenomenal. We're proud to say that in the nearly four years since Free Rewards Checking was introduced, this is only our second rate decrease.

Thank you for your continued relationship and for recommending Danversbank and Free Rewards Checking to family and friends who know a good deal when they see one!

If you have any questions, don't hesitate to contact our Customer Support Center at 1-800-771-8200, option 1.