Slovenian S&L (PA) Boosts All Certificate Rates


Deal Summary: Certificates – 12-month (1.00% APY), 18-month (1.00% APY), 24-month (1.25% APY), 36-month (1.50% APY), 60-month (1.50% APY), $500 min deposit except for $1k min for 12-month.

Availability: Washington County, Pennsylvania

Slovenia Savings and Loan (SSL) has substantially raised the rates on the majority of its Certificates, with increases of 25, 35, and 50 bps. The new APYs equal those of a year ago and are definite rate leaders today. The minimum opening deposit is $500, except for the 12-month Certificate, which requires a $1k minimum opening deposit.

SSL offers only two IRA Certificates (30-month and 120-month), both of which currently earn 1.50% APY. The minimum opening deposit is a low $50.

As stated on the Certificate/IRA Rates page, the Early Withdrawal Penalty reads as follows,

Penalty for early withdrawal 91 and 182 day and 12 mo. certificate - 3 mos. Interest loss whether earned or not.

Penalty for early withdrawal 18 thru 120 month certificate - 6 mos. Interest loss whether earned or not.

A 6-month penalty is a very mild EWP for a long-term certificate, particularly for a 5-year CD. If rates begin to rise in the next five years, closing an SSL 60-month Certificate to take advantage of a higher rate would not result in a large loss. Using DA’s Early Withdrawal Penalty Calculator, you can see what the effective yields would be on a month-by-month basis. For example,

  • 1.32% APY – closed at 4 years
  • 1.26% APY – closed at 3 years
  • 1.13% APY – closed at 2 years
  • 1.01% APY – closed at 18 months


Headquartered in Strabane, Pennsylvania, Slovenian Savings and Loan offers its product line to residents of Washington County, which is located in the southwest corner of the state.

Opening any type of account at SSL requires an in-person visit to the sole Pennsylvania branch located on Boone Avenue in Strabane. There is no mention of any COVID-related branch limitations (limited lobby hours, appointments, etc.) on SSL’s website.

Bank Overview

Slovenian Savings and Loan has an overall health grade of "A" at, with a Texas Ratio of 6.96% (excellent) based on March 31, 2021 data. In the past year, SSL has increased its total non-brokered deposits by $54.61 million, an excellent annual growth rate of 54.61%. Please refer to our financial overview of Slovenian Savings and Loan (FDIC Certificate # 27686) for more details.

Opening its doors for business in 1925, the original Slovenian Savings and Loan Association of Canonsburg was established for the benefit of the many Slovenians who had emigrated to western Pennsylvania, seeking work in the coal mines. (In the early 1900s, the Pittsburg area was home to the second-largest concentration of Slovenians in the U.S.) The immigrants were unable to obtain loans, so the S&L played an essential role in the Slovenian community. During the first few years, a lottery was held to determine who would receive a loan because of the S&L’s initial small size. Slovenia Savings and Loan is currently the 78th largest bank headquartered in Pennsylvania, with assets in excess of $513 million.

How the Certificates Compare

When compared to the similar length-of-term CDs tracked by that require a similar minimum deposit and are available within the market area, all of Slovenian Savings and Loan’s Certificate APYs currently rank first.

The above information and rates are accurate as of 6/9/2021.

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

Related Pages: Pittsburgh CD rates, 1-year CD rates, 5-year CD rates


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