Haverhill Bank (MA/NH) Features Competitive 60-Month CD


Deal Summary: 60-month CD, 1.51% APY, $500 minimum deposit.

Availability: Market area includes ten communities in northeastern Massachusetts and seven communities in nearby New Hampshire.

Haverhill Bank’s 60-month CD currently earn 1.51% APY. The minimum opening deposit is $500, with no stated balance cap.

The 60-month CD is also offered as an IRA CD (Traditional, Roth, CESA), but at a slightly higher APY (1.61%) and requiring only a $25 minimum deposit.

A year ago, the 60-month CD offered its highest rate (2.68% APY) in eight years. In November 2019, the APY started to fall, losing 117 bps in six rate decreases. The current 1.51% APY has been in effect since early September.

According to CSR, the Early Withdrawal Penalty is 180 days simple interest on the amount being withdrawn, with partial withdrawals allowed.

SIF Deposit Insurance

Large deposits at Haverhill Bank are protected through the Bank’s Share Insurance Fund (SIF) membership. The SIF is a private, industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation (FDIC) limits at Massachusetts-chartered co-operative banks.

Since its inception, the Share Insurance Fund has preserved the enviable claim of member co-operative banks that “no depositor has ever lost a dollar in any Massachusetts co-operative bank.”


Headquartered in Haverhill, Massachusetts, Haverhill Bank’s market area includes communities in northeastern Massachusetts and in nearby New Hampshire.

Massachusetts: Amesbury, Boxford, Groveland, Haverhill, Merrimac, Methuen, Newbury, Newburyport, North Andover, and West Newbury.

New Hampshire: Atkinson, Derry, Newton, Pelham, Plaistow, Salem, and Windham

While Haverhill Bank has an online application for a variety of accounts, the 60-month CD is not one of them. (The only CDs listed on the online application are the 12-month and 2-year.) Opening a 60-month CD can be done by phone (978.374.0161), or at any of the five Massachusetts branches located in Haverhill (3), Merrimac, and West Newbury. Haverhill Bank also has a branch in Salem, New Hampshire, which is located just across the Massachusetts/New Hampshire border.

Bank Overview

Haverhill Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.33% (excellent), based on June 30, 2020 data. In the past year, Haverhill Bank increased its total non-brokered deposits by $54.52 million, an excellent growth rate of 16.18%. Please refer to our financial overview of Haverhill Bank (FDIC Certificate # 26411) for more details.

Established in 1877 as the Haverhill Cooperative Savings Fund and Loan Association, Haverhill Bank is the oldest cooperative bank in Massachusetts. The Bank merged with three other co-operative banks in the last 58 years, and in 2008, acquired Northeast Community Credit Union (NCCU), which changed to a bank charter to merge into Haverhill Bank. Currently the 80th largest bank headquartered in Massachusetts, Haverhill Bank has assets in excess of $462 million and nearly 20,000 customer accounts.

How the CD Compares

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, Haverhill Bank's 60-month CD APY currently ranks second.

The above rates are accurate as of 10/23/2020.

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

Related Pages: Boston CD rates, 5-year CD rates

Haverhill Bank (MA/NH) Boosts 36-Month CD Rate
Availability: Market area includes northeastern Massachusetts and nearby New Hampshire.

At the end of last week, Haverhill Bank raised the rate on its 36-month CD (2.02% APY) by 76 basis points. The minimum opening deposit is $500, with no stated balance cap.

This recent rate hike is the first increase for the 36-month CD in three years, and is the highest APY in its seven year history.

The 36-month CD is also offered as an IRA (Traditional, Roth, CESA), but at a slightly higher APY (2.12%) and requiring only...

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3.01% Reward Checking Account at a Massachusetts Bank (Haverhill)
Update 3/28/09: The top yield has fallen to 3.01% APY. Refer to the bottom of the post for the rate history.

Haverhill Bank has a reward checking account that pays 3.01% APY on balances up to $50,000 (1.01% for over) and refunds ATM fees if the following monthly requirements are met: 1) 10 debit card transactions, 2) one direct deposit or ACH auto debit, 3) access online banking, and 4) receive electronic statements. If these are not met, the rate falls to 0.15%.

As is common for reward checking accounts in Massachusetts,...

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