One of the best ways to put your dollars to work for you is with a Millville Savings Bank savings or CD account. With so many methods of saving to choose from, you may find that more than one account fits into your savings plan!
Statement Savings
$100 minimum to open and maintain to avoid a monthly service charge of $5. Earn interest on balances of $100 or more. Receive easy-to-read monthly statements and you can have your checks directly deposited. Use our Internet or Mobile Banking and Telephone banking to make transfers between your accounts and deposit checks remotely. Make transfers at our ATM machines between all accounts linked to your ATM/Debit Card. ATM fees may apply when using non-bank owned ATMs.
Super Savings
An easy-to-read monthly statement, this Savings Account is a tiered account. A minimum of $1,000 is required to open the account and maintain to avoid a monthly service charge of $10.00.
Certificates of Deposit
Earn higher interest without higher risk.
Whether it’s short-term growth or long-range investments you’re after, Millville Savings has a variety of account options to fit your goals. And the competitive rates to achieve them. Choose the term that’s right for you anywhere from 3 months to 7 years. Deposit as little as $1,000 and lock the rate in for the full term of the investment. All terms one year or longer are available for your Millville Savings Individual Retirement Account. Penalties imposed for early withdrawal. Accounts automatically renew at maturity. Customers have 10 calendar days from the maturity date to withdraw funds without being charged a penalty.
IRA Accounts
Individual Retirement Accounts: Millville Savings offers a choice of IRAs.
- Roth IRA – Contributions to this new IRA cannot be deducted from current income taxes, but earnings grow tax-deferred and withdrawals after five years or at 59-1/2 years of age are tax-free.
- Traditional IRA – This IRA offers higher income limits for tax deductions and IRS penalty-free withdrawals for education expenses or purchasing a first home.
Christmas or Vacation Club
These specialized club accounts will help you set aside money for holidays and other special occasions. The minimum deposit required to open a club account is $5.00.
The Christmas club checks will be mailed in October. Vacation Club checks will be mailed in April.
FFDIC DEPOSIT INSURANCE COVERAGE RESOURCES
Informational resources on deposit insurance coverage are described below. These resources can be found on the FDIC’s website at: www.fdic.gov/deposit. The FDIC provides these resources free of charge to consumers and IDI employees.
Electronic Deposit Insurance Estimator (EDIE)
EDIE is an application that assists IDI employees and consumers in calculating deposit insurance coverage. The calculator is ideal for analyzing actual deposits established or hypothetical examples that depositors or IDI employees may wish to explore for the amount of FDIC deposit insurance coverage that may be available. Please note that no personally identifiable information is necessary to access EDIE’s calculations. After the user enters the account information, EDIE generates a printable report clearly showing the amount of insurance coverage for the user’s accounts. EDIE can be used to calculate the insurance coverage of single, certain retirement, joint, trust, government and business accounts. Depositors and IDI employees may contact the FDIC at 1-877-ASK-FDIC (1-877-275-3342) to discuss their specific situations.
FDIC Deposit Insurance Brochures
- Deposit Insurance at a Glance, available in English, Spanish, Korean, Vietnamese, Tagalog, and Chinese (traditional and simplified), is a brochure that provides basic information on the common ownership categories of insurance coverage, including single accounts, certain retirement accounts, joint accounts, and trust accounts.
- Your Insured Deposits, available in English, Spanish, Korean, Vietnamese, Tagalog, and Chinese (traditional and simplified), explains the eight most common deposit insurance categories. It is especially useful for large depositors, those with unusual deposit insurance requirements, and IDI employees who are assisting depositors with deposit insurance questions.