Savings/CDs

Money Market Account

  • $2,500 minimum balance ($7.50 monthly fee if balance drops below the minimum)
  • Interest credited monthly
  • Limit of three third party transfers per month
  • Limit of six transfers per month
  • Please contact the bank for current rates


Passbook Savings

  • $50 minimum balance to open and maintain account ($7.50 fee if balance drops below $50)
  • No fees for customers age 21 or younger
  • Interest credited quarterly
  • Limit of six transfers per quarter ($1 for every transaction over)
  • Please contact the bank for current rates


Christmas Club

  • $1 minimum balance required to open and maintain account
  • Interest credited at maturity
  • Please contact the bank for current rates


CDs
Insured by the FDIC

  • Terms range from 3 months to 2 years
  • When interest is credited depends on term of CD
  • Early withdrawals may be subject to penalty
  • Please contact the bank for current rates


IRAs

18-month Fixed Rate IRA-CD

Insured by the FDIC

  • $500 minimum required to open this IRA-CD
  • Interest credited quarterly
  • Early withdrawals may be subject to penalty
  • Please contact the bank for current rates


24-month Variable Rate IRA-CD
Insured by the FDIC

  • $500 minimum required to open this IRA-CD
  • Rate may change in March and September
  • Interest credited semi-annually
  • Early withdrawals may be subject to penalty
  • Please contact the bank for current rates


Health Savings Account (HSA)
Any adult covered by a high-deductible health plan may establish an HSA for future medical expenses. Contributions can be made by you, your employer or both. Amounts contributed to an HSA belong to the account holder and are completely portable. Funds in the account can grow tax-free through investment earnings, just like an IRA.

  • Interest credited monthly
  • Please contact the bank for current rates


Coverdell Education Savings Accounts (CESA)
A CESA account helps parents and students under age 18 save for education expenses. Total contributions cannot be more than $2,000 in any year. Contributions are not tax deductible, but amounts deposited in the account grow tax free until distributed.

  • $500 minimum balance required to open and maintain account
  • Interest credited quarterly
  • Please contact the bank for current rates

 

Welcome to Philo Exchange Bank. We're a locally-owned bank dedicated to serving our customers and our communities. Our hometown focus guides the way we do business, ensuring that you always get the best in financial products and services.


Community Hub

Click here to see information about our communities and schools, plus a calendar of local community-wide festivals and events.