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.

1.21%$25-Haverhill Bank36 Month Fixed IRA (Traditional, Roth, CESA)
1.11%$500-Haverhill Bank36 Month CD
Rates as of September 26, 2020.

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 a $25 minimum deposit.

According to CSR, the Early Withdrawal Penalty is 180 days simple interest.

Haverhill 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.


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

Opening any type of account at Haverhill Bank requires an in-person visit to any of five Massachusetts branches located in Haverhill (4) and Merrimac. The Bank also has a single branch in Salem, New Hampshire, which is located just across the Massachusetts/New Hampshire border.

Bank Overview

Haverhill Bank (FDIC Certificate # 26411) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.30% (excellent), based on September 30, 2016 data. In the past year, Haverhill Bank increased its total non-brokered deposits by $21.73 million, an excellent growth rate of 7.26%. Please refer to our financial overview of Haverhill Bank 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 55 years, and in 2008, merged with Northeast Community Credit Union (NCCU), which changed to a bank charter to merge with Haverhill Bank. A CreditUnionTimes article stated that Haverhill Bank and NCCU,

announced the deal in July 2007, but because it was the first one to have gone through a procedure that was specifically allowed under Massachusetts laws and regulations, the final member ballot approving it did not take place until October of 2008, with the final conversion completing soon after.

How the CD Compares

When compared to the 388 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 36-month CD APY currently ranks second.

The above rates are accurate as of 1/25/2017.

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

Kevin Rolland
  |     |   Comment #1
Theres a nice offer from Advantage Brokerage on a 60 month CD at 2.42% APY they give you a choice of either Santander Bank or CIT the only catch is a high min deposit.
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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