Savings
Savings plans as diverse as our communities
Whether you're saving Washingtons, Benjamins or anything in between, we’ve got a savings plan that will work for you.
Green Online Savings Account
- Online Banking (Required)
- Monthly eStatement
- Free ATM Card
- RCB will not charge its cardholders to use any ATM1
- Link to Checking
- Direct Deposit
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Statement Savings Account
- Online Banking Available
- Monthly eStatement
- Free ATM Card
- RCB will not charge its cardholders to use any ATM1
- Link to Checking
- Direct Deposit
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Passbook Savings Account*
- Online Banking Available
- Direct Deposit
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Student Savings Account
There are two types of Student Savings to choose from: Passbook and Statement Savings Accounts
- Competitive interest rates
- 100% deposit insurance through FDIC and DIF
- Low minimum deposit of $10 required to open account
- Direct Deposit
- FREE 24-hour online, mobile and telephone banking
- Interest that is compounded daily and credited monthly
- Free ATM Card for Student Statement Account
- RCB will not charge its Student Statement cardholders to use any ATM1
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Money Market Deposit Accounts
- Multiple tiers with various interest rates available
- Competitive rates
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Vacation Savings Account***
Structured to help you save for costly one-time or annual occasions and budget for vacations or weddings
- Automatic Transfers
- Link to RCB Checking
- Open a Vacation Savings Account online
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Christmas Savings Account
Structured to help you save for costly one-time or annual occasions and budget for holidays
- Automatic Transfers
- Link to RCB Checking
- Open a Christmas Savings Account online
Minimum balance to open
$10
Certificates of Deposit
Long-Term Savings
- Terms from 6 months to 5 years
- FDIC insures up to $250,000; DIF insures all additional deposits
Minimum balance to open
$500
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $500 to earn annual percentage yield; Competitive interest rates
IRAs for Education & Retirement*
Long-Term Savings
- Save for retirement or higher-education
- Enjoy potential tax savings with our Traditional and ROTH IRAs
- Start now and add to an IRA regularly; you'll be prepared when you're ready to retire
- Greater flexibility than ever before, including catch-up contributions for customers age 50+
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; *All IRAs have an annual fee which may reduce the earnings on the account
Traditional/SEP IRA*
Long-Term Savings
- Contributions may be tax deductible**
- Earnings are tax deferred until withdrawal
- Withdrawals may begin at 59½ years of age, and are mandatory at 72 years of age
- Available to everyone under 70½ years of age
- Must have earned income
- Penalties for early withdrawals may apply
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; *All IRAs have an annual fee which may reduce the earnings on the account; **consult your tax advisor
Roth IRA*
Long-Term Savings
- Contributions are not tax deductible
- Earnings are tax free
- No required minimum distributions
- Available to everyone, with no age limits
- Must have earned income, though income limits may apply
- Penalties for early withdrawals may apply
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; *All IRAs have an annual fee which may reduce the earnings on the account; **consult your tax advisor
Coverdell IRA (also known as an Education IRA)*
Long-Term Savings
- Contributions are not tax deductible
- Distributions for qualified education costs are generally tax free
- Contributions up to $2,000 annually are allowed, provided you meet certain income limits
- Call 781.942.5000 during banking hours
- Come in to any RCB branch and speak to a Banking Specialist
Additional Info
A great way to save money to help a child, grandchild or any young person you know pay for higher-education expenses.
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; *All IRAs have an annual fee which may reduce the earnings on the account; **consult your tax advisor
Health Savings Accounts
- Multiple tiers with various interest rates available
- Competitive rates
Minimum balance to open
$10
FDIC Insured
FDIC insures up to $250,000; DIF insures additional deposits; Minimum daily balance of $10 to earn annual percentage yield; Competitive interest rates
Click here for CD and IRA Rates
| Product | Interest Rate | Annual Percentage Yield1 | Minimum Balance To Open Account | Minimum Daily Balance To Earn APY |
| 6 Month | 3.93% | 4.00% | $500.00 | Bal. $500.00 & More |
| 8 Month (IRAs not included2) | 4.25% | 4.25% | $500.00 | Bal. $500.00 & More |
| 9 Month (IRAs not included3) | 2.75% | 2.75% | $500.00 | Bal. $500.00 & More |
| 1 Year | 2.72% | 2.75% | $500.00 | Bal. $500.00 & More |
| 15 Month | 0.15% | 0.15% | $500.00 | Bal. $500.00 & More |
| 2 Year | 2.72% | 2.75% | $500.00 | Bal. $500.00 & More |
| 3 Year | 2.96% | 3.00% | $500.00 | Bal. $500.00 & More |
| 4 Year | 2.96% | 3.00% | $500.00 | Bal .$500.00 & More |
| 5 Year | 2.96% | 3.00% | $500.00 | Bal. $500.00 & More |
1Annual Percentage Yield (APY) accurate as of the date stated below. All rates, except fixed rate certificates of deposit, are variable and subject to change without notice after the account is opened. You must maintain the minimum daily balance of $500.00 to earn the advertised APY. Fees and withdrawal may reduce earnings on accounts. A penalty may be imposed for early withdrawal from Certificates of Deposit. APY results when interest is left on deposit to compound daily on a basis of 365/365 days. All deposits are FDIC insured to at least $250,000. DIF insures all additional deposits.
2The 8-Month CD excludes IRAs and can only be opened as a CD product. Maximum deposit of $500,000.00 when opened online. Each renewal term will be our standard nine-month term beginning on the maturity date.
39-Month CD excludes IRAs and can only be opened as a CD product. Maximum deposit of $500,000.00 when opened online. Each renewal term will be our standard six-month term beginning on the maturity date.
Rates current as of 11/08/2024.
Click here for Savings Account Rates
| Product | Interest Rate | Annual Percentage Yield1 | Minimum Balance To Open Account | Minimum Daily Balance to Earn APY |
| Green Online Savings1,2 | 0.01% | 0.01% | $10.00 | Bal.>$9.99 and <$50,000.00 Bal.>$49,999.99 and <$100,000.00 Bal.>$99,999.99 and <$200,000.00 Bal.>$200,000.00 and More |
| Online Christmas Savings1,2 | 0.01% | 0.01% | $10.00 | Bal. ≥ $10.00 |
| Online Vacation Savings1,2,3 | 0.01% | 0.01% | $10.00 | Bal. ≥ $10.00 |
| Statement Savings1 | 0.01% | 0.01% | $10.00 | Bal .>$9.99 and <$50,000.00 Bal. >$49,999.99 and <$100,000.00 Bal. >$99,999.99 and <$200,000.00 Bal. >$200,000.00 and More |
| Passbook Savings1 | 0.01% | 0.01% | $10.00 | Bal. >$9.99 and <$50,000.00 Bal. >$49,999.99 and <$100,000.00 Bal. >$99,999.99 and <$200,000.00 Bal. >$200,000.00 and More |
| Student Statement Savings1 | 0.01% | 0.01% | $10.00 | Bal. >$9.99 and <$50.00 Bal. >$50.00 |
| Student Passbook Savings! | 0.01% | 0.01% | $10.00 | Bal. >$9.99 and more |
1Annual Percentage Yield (APY) accurate as of the date stated below. All rates are variable and subject to change without notice and may change after account opening. You must maintain the minimum daily balance listed in the account disclosure, if any, to earn the advertised APY. Fees and withdrawal may reduce earnings on accounts. The minimum daily balance tiers to earn the APY stated on this rate sheet reflect the full tier balance ranges for each appropriate tier for the green online savings. APY results when interest is left on deposit to compound daily on a basis of 365/365 days. All deposits are FDIC insured to at least $250,000. DIF insures all additional deposits.
2Online Products – Personal accounts only. eStatements and Online Banking are required.
3Vacation Savings requires a minimum $25/month transfer from a Reading Cooperative Bank checking or statement savings account to obtain the stated Annual Percentage Yield (APY). Vacation Savings has a minimum term of 4 months and must pay-out or roll over in 12 months or less.
Rates current as of 11/08/2024.
Click here for Money Market Rates
| Tiers | Interest Rate | Annual Percentage Yield* | Minimum Balance To Open Account | Minimum Balance to Earn APY |
| Under $2,500 | 0.05% | 0.05% | $10.00 | Bal.>$9.99 and <$2,500.00 |
| $2,500 - $9,999.99 | 0.05% | 0.05% | $10.00 | Bal.>$2,499.99 and <$10,000.00 |
| $10,000 - $24,999.99 | 0.05% | 0.05% | $10.00 | Bal.>$9,999.99 and <$25,000.00 |
| $25,000 - $49,999.99 | 0.05% | 0.05% | $10.00 | Bal.>$24,999.99 and <$50,000.00 |
| $50,000 - $99,999.99 | 0.05% | 0.05% | $10.00 | Bal.>$49,999.99 and <$100,000.00 |
| $100,000 & Over | 0.10% | 0.10% | $10.00 | Bal. $100,000 & More |
*Annual Percentage Yield (APY) accurate as of the date stated below. All rates, except fixed rate certificates of deposit, are variable and subject to change without notice and may change after account opening for each variable rate account. You must maintain the minimum daily balance listed in the account disclosure, if any, to earn the advertised APY. Fees and withdrawal may reduce earnings on accounts. The minimum daily balance tiers to earn the APY stated on this rate page reflect the full tier balance ranges for each appropriate tier. APY results when interest is left on deposit to compound daily on a basis of 365/365 days. All deposits are FDIC insured to at least $250,000. DIF insures all additional deposits.
Rates current as of 11/08/2024.
Click here for Health Savings Rates
| Tiers | Interest Rate | Annual Percentage Yield* | Minimum Balance To Open Account | Minimum Balance to Earn APY |
| Under $2,500 | 0.01% | 0.01% | $10.00 | Bal.>$9.99 and <$2,500.00 |
| $2,500 - $4,999.99 | 0.01% | 0.01% | $10.00 | Bal.>$2,499.99 and <$5,000.00 |
| $5,000 - $9,999.99 | 0.01% | 0.01% | $10.00 | Bal.>$4,999.99 and <$10,000.00 |
| $10,000 - $99,999.99 | 0.01% | 0.01% | $10.00 | Bal.>$9,999.99 and <$100,000.00 |
| $100,000 & Over | 0.01% | 0.01% | $10.00 | Bal. $100,000 & More |
*Annual Percentage Yield (APY) accurate as of the date stated below. All rates, except fixed rate certificates of deposit, are variable and subject to change without notice and may change after account opening for each variable rate account. You must maintain the minimum daily balance listed in the account disclosure, if any, to earn the advertised APY. Fees and withdrawal may reduce earnings on accounts. The minimum daily balance tiers to earn the APY stated on this rate page reflect the full tier balance ranges for each appropriate tier. APY results when interest is left on deposit to compound daily on a basis of 365/365 days. All deposits are FDIC insured to at least $250,000. DIF insures all additional deposits.
Rates current as of 11/08/2024.
| Features |
Green Online |
Statement Savings |
Passbook Savings* |
Student Passbook* |
Student Savings |
Money Market |
Vacation
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Christmas Savings |
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| Minimum to open | $10 | $10 | $10 | $10 | $10 | $10 | $10 | $10 |
| Monthly Maintenance Fee | Free | Free | Free | Free | Free | $122 | Free | Free |
| Minimum to earn APY | $10 | $10 | $10 | $10 | $10 | $10 | $10 in the account each day to obtain the disclosed APY and have a minimum of $25.00 transferred monthly from your RCB checking or Statement Savings Account. | $10 |
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| Additional Terms | Accounts opened online require e-statements and enrollment in Online Banking. |
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When you use a non-Reading Cooperative Bank ATM, we will rebate the ATM usage charges assessed against your account by the ATM service provider. Such a charge, referred to as a “surcharge”, will be credited to your account at the end of each monthly statement cycle. Surcharge notices are posted at ATM locations. Accounts opened online require e-statements and enrollment in Online Banking. |
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Accounts opened online require e-statements and enrollment in Online Banking. If any withdrawal amount is made from this account before the end of the term or if the funds are unavailable to be transferred from the checking account for two consecutive months, this account may be closed. This account will have a disbursement of not less than four (4) months but not greater than twelve (12) months by check or internal transfer. | Accounts opened online require e-statements and enrollment in Online Banking. This account will have an annual disbursement every October by check or internal transfer. |
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Online access for a Passbook Account is limited to viewing history and making online transfers into a Passbook Account. Withdrawals and transfers out of the account should be made with a Banking Specialist at an RCB branch. | Online access for a Passbook Account is limited to viewing history and making online transfers into a Passbook Account. Withdrawals and transfers out of the account should be made with a Banking Specialist at an RCB branch. |
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Transfers from this account to another account or to third parties are not allowed. Only transfers into this account are permitted. | Transfers from this account to another account or to third parties are not allowed. Only transfers into this account are permitted. |
Click here for the small print
*As an alternative to a personal loan, you may borrow against your passbook savings account.
**Online access for a Passbook Account is limited to viewing history and making online transfers into a Passbook Account. Withdrawals and transfers out of the account should be made with a Banking Specialist at an RCB branch.
***Vacation Savings requires a minimum $25/month transfer from a Reading Cooperative Bank checking or statement savings account to obtain the stated Annual Percentage Yield (APY). Vacation Savings has a minimum term of 4 months and must pay-out or roll over in 12 months or less. Transfers available, please ask a banking specialist for a copy of the terms and conditions for account details.
¹Other ATM operators may impose a surcharge fee. Use our ATM Locator to find in-network (MoneyPass®) ATMs.
²Monthly Maintenance Fee if minimum daily balance of $2,500 is not maintained.
