Personal Savings Accounts

The Institution for Savings offers two different types of personal savings accounts to meet your everyday banking needs. Our offerings are designed to provide you with stress-free banking and competitive rates - all delivered with the personal expert service you have come to expect from us since 1820. And we typically have the lowest fees of almost any area bank!

  Statement Savings Preferred Savings
Minimum balance to open $10 $10
Earns interest
Monthly service charge if minimum balance not maintained $1 if balance falls below $10 $10 if balance falls below $50,000
24-Hour Automated Telephone Banking
No-fee Internet Banking
No-fee Mobile Banking and Mobile Deposit
No-fee ATM card and Point-of-Sale Transactions
Surcharge free withdrawals at SUM ATMs (other banks may charge a fee outside of SUM Network)
Statements Your choice of quarterly statements by mail or electronically (in the event of electronic funds activity, you will receive your statements monthly
Direct Deposit available
Additional information A $5 fee will be charged for each third party transaction in excess of 6 per month. Transfers from a savings account including those to third parties are limited to 6 per month. These transactions include preauthorized, automatic, telephone or computer transfers, checks, drafts, debit card or ATM point-of-sale purchases, or similar orders to third parties. All savings accounts rates are variable and subject to change without notice, which means that the rate of interest and Annual Percentage Yield may change after the account is opened. Fees could reduce earnings.