UPDATE 3/8/2016: The rate guarantee has expired, but the Pearl MMA Promo is still available. It is being advertised as, "Available for all new Personal and Business Money Market Customers for a Limited Time."
The 1.10% APY is guaranteed through March 1, 2016, and the minimum opening deposit is $5K.
Headquartered in Lewiston, Northeast Bank is the 11th largest bank in Maine.
To open the Pearl Money Market Promo online, you must be a US Resident, with a valid Social Security number. CSR noted that having a digital copy of your ID is helpful, as
Northeast Bank will also request a copy of your drivers license or a valid ID card. We will not consider your account opened until we receive this information from you.
The Pearl Money Market Promo can also be opened at any of 11 full-service Maine branches, located in Auburn, Augusta, Bethel, Brunswick, Buckfield, Harrison, Lewiston (2), Poland, Portland, and South Paris.
Northeast Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 11.35% (above average), as of March 31, 2015 data. In the past year, Northeast Bank has increased its total deposits by $95.18 Million, an excellent annual growth rate of 15.97%. Please refer to our financial overview of Northeast Bank for more details.
Northeast Bank (FDIC Certificate #19690) is one of Maine’s oldest community banks, having been established in 1872 as the Bethel Savings Bank. In 143 years of continuous operations, Northeast Bank has changed names 3 times, acquired 2 other Maine banks, and expanded its market area nationwide through its online banking platform.
How the Pearl Money Market Compares
When compared to the 112 Money Market accounts tracked by DepositAccounts.com that are available nationally, Northeast Bank’s Pearl Money Market’s APY currently ranks second.
The above rates are accurate as of 9/8/2015.
To search for nationwide MMA rates and MMA rates in your state, please refer to the Money Market Accounts rates section of DepositAccounts.com.