Earlier this month, Stoughton Co-operative Bank added four CD Specials, which require new money to open. The most competitive is the 40-month, which earns 2.75% APY. Any of these CD Specials can be opened with a $5k minimum deposit. Maximum opening deposit is $250k.
According to CSR, the Early Withdrawal Penalty for any of the CD Specials is six months of interest.
Share Insurance Fund
In addition to being FDIC insured, Stoughton Co-operative Bank’s deposits are also covered by the Share Insurance Fund. According to the Bank’s website, “There are no maximum account limitations or amount limitations.”
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.
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 Stoughton, Massachusetts, Stoughton Co-operative Bank’s market area includes the eastern Massachusetts counties of Bristol, Norfolk, and Plymouth.
Opening any type of account at Stoughton Co-operative Bank must be done at either of the two Massachusetts branches, both located on Park Street in Stoughton. The Bank’s online platform is currently limited to account management and bill payment services.
Stoughton Co-operative Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.57% (excellent) based on December 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $8.18 million, an excellent annual growth rate of 9.48%. Please refer to our financial overview of Stoughton Co-operative Bank (FDIC Certificate # 26513) for more details.
In 1886, a group of local businessmen founded the Stoughton Co-operative Bank; 132 years later, the Bank still considers itself to be “Stoughton’s Hometown Bank.” Last fall, the Bank celebrated hometown banking by sponsoring a special Checking for Charity campaign. For every new personal or business account opened, Stoughton Co-operative Bank donated $10 to be shared by five local charities (Stoughton Youth Athletic Club, Parents of Performing Students, Animal Protection Center of Southeastern MA, Brockton Coalition for the Homeless, and the Ilse Marks Food Pantry).
How the CD Special Compares
When compared to the similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available within the Bank’s market area, Stoughton Co-operative Bank's 40-months CD Special APY currently shares top standing with Cornerstone Bank’s 38-month CD APY.
|Interest Rate||Length of Term||Credit Union/Bank|
|2.75% APY||40-Months CD Special||Stoughton Co-operative Bank|
|2.60% APY||3-Year CD||Live Oak Bank|
|2.56% APY||36-Month Online Promo CD||M.Y. Safra Bank|
The above rates are accurate as of 3/29/2018.
To search for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.