Coastal Heritage Bank (MA) Adds 9- or 12-month CD Special (1.60% APY)

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Availability: Market area is Massachusetts’ South Shore area.

Coastal Heritage Bank has just added two limited-time CD Specials (9-month and 12-month) that each earn 1.60% APY. The minimum opening deposit is $1k of new money, with a maximum balance cap of $500k per person.

There is a limit of one account per person, and a personal checking account (new or existing) is required to open either CD.

According to CSR, the Early Withdrawal Penalty is three months of interest for the 9-month CD Special, with the 12-month CD Special losing six months 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.

Availability

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.

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

Opening a limited-time 9-month or 12-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 a year ago, I noted that the online application previously available on S-Bank’s website was no longer available. At that time, CSR stated that a Coastal Heritage Bank online application was projected for the future. To quote a long-time DA reader, “The future’s not quite here yet,” 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 DepositAccounts.com, with a Texas ratio of 1.948% (excellent), based on September 30, 2016 data. In the past year, Coastal Heritage Bank increased its total non-brokered deposits by $234.9 million, an excellent growth rate of 145.97%. 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’ 73st largest bank with assets in excess of $487 million.

How the CDs Compare

When compared to the similar length-of-term CDs tracked by DepositAccounts.com 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.

When compared to the similar length-of-term CDs tracked by DepositAccounts.com 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 1/19/2016.

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


Comments
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.

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Coastal Heritage Bank (MA) Offers Top Rate 9-Month CD
Availability: Massachusetts’ South Shore

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.

Heritage Plus Checking

Another new product at Coastal Heritage Bank is the Heritage Plus...

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S-Bank (MA) Raises Rate On 12-month CD To Competitive Level
Availability: Massachusetts

Over the weekend, S-Bank (Massachusetts) raised the rate on its 12-month Statement Term Certificate (1.25% APY). The minimum opening deposit is $1K, with no maximum balance cap. According to CSR, the Early Withdrawal Penalty is a substantial six months of interest.

Availability

Headquartered in Weymouth, S-Bank offers its services and product line to all residents of Massachusetts.

Opening an account at S-Bank can be started online, but the process is not complete until your identification is verified and an initial deposit is made. This...

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Top Long-Term CD Rates at S-Bank in MA - Local Only

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.

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2.33% 9-Month CD at S-Bank in MA on Feb 12-13, 2010 - Local Only

S-Bank is having a grand opening 9-month CD special with a very competitive rate of 2.33% APY. Minimum deposit is $1,000, and the maximum is $250,000. It's only available on February 12 and 13, 2010. This special doesn't appear to be listed at the bank's website. It was recently advertised in a Boston newspaper. The ad is available online here.

Even though it's a grand opening special, the special CD is available at all three of the bank's branches which are located in Weymouth, Quincy and East Bridgewater.

The bank also has...



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