For a limited time, Passumpsic Bank is offering a 13-month CD Special that earns 2.90% APY. The opening deposit requires a minimum of $10k and is capped at $100k.
The 13-month CD Special is also offered as an IRA (Traditional, Roth, SEP), earning the same APY with the same funding requirements.
According to CSR, the Early Withdrawal Penalty for the 13-month CD Special is 180 days of interest.
Headquartered in St. Johnsbury, Vermont, Passumpsic Bank’s market area includes Caledonia, Essex, and Orleans Counties (VT) and Coos and Grafton Counties (NH).
Opening a CD Special must be done at any of seven Vermont branches located in Berlin, Danville, Island Pond, Lyndonville, Newport, and St. Johnsbury (2), or any of four New Hampshire branches located in Lancaster, Littleton, Northumberland, and Whitefield.
Passumpsic Bank’s online banking platform is currently limited to account management and bill payment services.
Passumpsic Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.11% (excellent), based on September 30, 2018 data. In the past year, the Bank has increased its total non-brokered deposits by $5.17 million, an above average annual growth rate of 1.14%. Please refer to our financial overview of Passumpsic Bank (FDIC Certificate # 14134) for more details.
I know what you were wondering: passumpsic is a Native American word meaning “clear running water.” The Passumpsic River is a tributary of the Connecticut River, which runs through St. Johnsbury, Vermont.
Currently Vermont’s fourth largest bank, Passumpsic Bank was founded in 1853 as the Passumpsic Savings Bank. In one of those small town coincidences, Passumpsic Savings Bank shared a building for six years with the original Passumpsic Bank, which was a separate commercial bank. The Bank rebranded just months ago.
Effective in the fall of 2018, we have adopted that old name, but make no mistake: We are the new Passumpsic Bank! We weren’t bought out and didn’t fall prey to a corporate takeover. Going back to that classic name better reflects who we are and what we provide to our customers. Yes, we are still a savings bank.
How the CD Special Compares
When compared to 262 similar length-of-term CDs tracked by DepositAccounts.com that are available within the Bank’s market area and require a minimum deposit of $10k or less, Passumpsic Bank’s 13-month CD Special APY currently ranks first.
The above rates are accurate as of 2/19/2019.
To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.