Savings Accounts
Cumberland Basic Savings
- Interest Paid Quarterly
- $3.00 Monthly Fee Waived with $100 Average Daily Balance
- $100 Minimum Opening Deposit
- Allowed up to 6 withdrawals per statement cycle at no charge
- Federal transaction limitations apply. Penalties are assessed for abuse of the six withdrawal rule
Cumberland Youth Savings
- Encouraged to Promote Youth Savings
- Interest Paid Quarterly
- No Monthly Service Charge
- Minimum Opening Balance of $25.00
- Allowed up to 6 withdrawals per statement cycle at no charge
- Federal transaction limitations apply. Penalties are assessed for abuse of the six withdrawal rule
The Basic Savings Account and Cumberland Youth Saving are allowed six withdrawals per month at no charge. Penalties are assessed for abuse of the six withdrawal rule. A fee of $5.00 will be imposed for each subsequent debit.
Cumberland Christmas Club
- Interest Paid Annually
- No Monthly Service Charge with No Withdrawals
- No Minimum Daily Balance Required
- Checking account required to open with automatic montly transfer to Christmas Club
- Balance transferred to checking account on October 31st of each year
Health Savings Account
Our HSA allows eligible individuals to save money and earn interest for qualified medical expenses without incurring bank maintenance fees. This account is an interest bearing checking product which provides easy access to funds to pay for qualified medical expenses. Free online banking is available to keep recordkeeping at your fingertips. Some interest earnings and certain contributions have tax benefits. Contact your tax advisor for further details.
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All accounts will be charged a dormant fee of $3.00 per month after six months of inactivity (deposits and/or withdrawals), with the exception of the Cumberland Youth Savings. The Cumberland Youth savings account will be charged a dormant fee after one full year of inactivity.
