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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

 

ProductInterest RateAnnual Percentage Yield1Minimum Balance
To Open Account
Minimum Daily Balance To Earn APY
6 Month4.65%4.75%$500.00Bal. $500.00 & More
8 Month (IRAs not included2)4.00%4.00%$500.00Bal. $500.00 & More
9 Month (IRAs not included3)3.25%3.25%$500.00Bal. $500.00 & More
1 Year3.00%3.00%$500.00Bal. $500.00 & More
15 Month0.15%0.15%$500.00Bal. $500.00 & More
2 Year3.00%3.00%$500.00Bal. $500.00 & More
3 Year0.30%0.30%$500.00Bal. $500.00 & More
4 Year0.35%0.35%$500.00Bal .$500.00 & More
5 Year0.40%0.40%$500.00Bal. $500.00 & More

 

1Annual Percentage Yield (APY) accurate as of 03/01/2024. 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 03/01/2024.

ProductInterest RateAnnual Percentage Yield1Minimum Balance To Open AccountMinimum Daily Balance to 
Earn APY
Green Online Savings1,20.01%0.01%$10.00Bal.>$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 Savings1,20.01%0.01%$10.00Bal. ≥ $10.00
Online Vacation Savings1,2,30.01%0.01%$10.00Bal. ≥ $10.00
Statement Savings10.01%0.01%$10.00Bal .>$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 Savings10.01%0.01%$10.00Bal. >$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 Savings10.01%0.01%$10.00Bal. >$9.99 and <$50.00
Bal. >$50.00
Student Passbook Savings!0.01%0.01%$10.00Bal. >$9.99 and more

 

1Annual Percentage Yield (APY) accurate as of 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 03/01/2024.

TiersInterest RateAnnual Percentage Yield*Minimum Balance
To Open Account
Minimum Balance
to Earn APY
Under $2,5000.05%0.05%$10.00Bal.>$9.99 and <$2,500.00
$2,500 - $9,999.990.05%0.05%$10.00Bal.>$2,499.99 and <$10,000.00
$10,000 - $24,999.990.05%0.05%$10.00Bal.>$9,999.99 and <$25,000.00
$25,000 - $49,999.990.05%0.05%$10.00Bal.>$24,999.99 and <$50,000.00
$50,000 - $99,999.990.05%0.05%$10.00Bal.>$49,999.99 and <$100,000.00
$100,000 & Over0.10%0.10%$10.00Bal. $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 03/01/2024.

TiersInterest RateAnnual Percentage Yield*Minimum Balance
To Open Account
Minimum Balance
to Earn APY
Under $2,5000.01%0.01%$10.00Bal.>$9.99 and <$2,500.00
$2,500 - $4,999.990.01%0.01%$10.00Bal.>$2,499.99 and <$5,000.00
$5,000 - $9,999.990.01%0.01%$10.00Bal.>$4,999.99 and <$10,000.00
$10,000 - $99,999.990.01%0.01%$10.00Bal.>$9,999.99 and <$100,000.00
$100,000 & Over0.01%0.01%$10.00Bal. $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 03/01/2024.

Features

Green Online

open an account

Statement Savings

find a branch

Passbook Savings*

find a branch

Student Passbook*

find a branch 

Student Savings

find a branch

Money Market

find a branch

Vacation
Savings

open an account

Christmas Savings

open an account

Minimum to open$10$10$10$10$10$10$10$10
Monthly Maintenance FeeFreeFreeFreeFreeFree$122FreeFree
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
Online Bankingcheckmarkcheckmarkcheckmark**checkmark**checkmarkcheckmarkcheckmarkcheckmark
Monthly Statementcheckmark
eStatement
checkmarknot includednot includedcheckmarkcheckmarkcheckmarkcheckmark
ATM Card1checkmarkcheckmarknot includednot includedcheckmarknot includednot includednot included
Free Link Protection Servicecheckmarkcheckmarknot includedcheckmarknot includednot includednot includednot included
Direct Depositcheckmarkcheckmarkcheckmarkcheckmarkcheckmarkcheckmarkcheckmarkcheckmark
Additional TermsAccounts opened online require e-statements and enrollment in Online Banking.not includednot includednot includedWhen 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.not includedAccounts 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.
Transaction Limitationsnot includednot includedOnline 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.not includednot includedTransfers 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.

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