Coastal Heritage Bank (MA) Has Very Limited Time 9-Month CD Special


Availability: Massachusetts’ South Shore area

Often the phrase, “limited time offer”, has to be taken with a grain of salt, as some of these offers last for months. On the other hand, there is no ambiguity concerning Coastal Heritage Bank’s limited-time 9-month CD Special (1.11% APY) that is only available for four days (September 28 – October 1, 2016).

The minimum opening deposit is for the stated limited-time APY is $1k, with a maximum balance cap of $250k. There is also a limit of one account per person.

According to CSR, the Early Withdrawal Penalty is a fairly substantial three months of interest.

Coast Heritage Bank’s deposits are not only FDIC insured, but are also covered by the Share Insurance Fund.

The Share Insurance Fund (SIF) is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above Federal Deposit Insurance Corporation (FDIC) limits.


In December 2015, S-Bank and Scituate Federal Savings Bank merged and all branches are now operating under the Coastal Heritage Bank name.

Headquartered in Weymouth, Coastal Heritage Bank offers its services and product line to all residents of Massachusetts’s South Shore, which is loosely defined as the region stretching east and south from Boston (toward Cape Code) along the shores of Cape Cod Bay and Massachusetts Bay.

Opening the limited-time 9-month CD Special at requires an in-person visit to any of nine Massachusetts branches located in East Bridgewater, Green Harbor, Hanover, Hingham, Marshfield, Norwell, Quincy, Scituate, and Weymouth

Note: When I wrote about Coastal Heritage Bank in January, I noted that the online application that was previously available on S-Bank’s website is no longer available. When I spoke to CSR at that time, it was stated that a Coastal Heritage Bank online application was projected for the future. The future is apparently still the future, as the online platform is currently limited to account management and bill payment services.

Bank Overview

Coastal Heritage Bank (FDIC Certificate # 26575) has an overall health grade of "A" at, with an excellent Texas ratio of 0.48%, based on June 30, 2016 data. In the past year, Coastal Heritage Bank increased its total deposits by $237.95 million, an excellent growth rate of 142.85%. Please refer to our financial overview of Coastal Heritage Bank for more details.

Established in 1890 as the South Shore Co-operative Bank, the Bank changed its name to S-Bank in 2008. The name changed was motivated by a simple reason: people outside the bank frequently confused the Bank with a nearby larger bank, the South Shore Savings Bank. Re-branded in December 2015 following the merger between S-Bank and Scituate Federal Savings Bank, Coast Heritage Bank is currently Massachusetts’ 71st largest bank with assets in excess of $489 million.

How the CD Compares

When compared to the similar length-of-term CDs tracked by that require a similar deposit and are available in the Bank’s market area, Coastal Heritage Bank's 9-month CD Special currently ranks first.

The above rates are accurate as of 9/29/2016.

To search for the best CD rates, both nationwide and state specific, please refer to the CD rates section of or our Rates Map page.

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Earlier this month, Coastal Heritage Bank (Massachusetts) raised the rate on its 9-month CD (1.27% APY). This is a new CD that was added to the product line in early December 2015, with an initial APY of 1.01%. The minimum opening deposit is $500, with a maximum balance cap of $250,000 per person.

According to CSR, the Early Withdrawal Penalty is a fairly substantial three months of interest.

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