Deposits
Savings, Money Markets, and CDs
We offer a variety of saving products for your financial future. Not all products are the same so visit with us today to find out which deposit product works best for you and your needs. If you have any questions regarding our deposit products or would like to open a new account please call 575-461-0191 or come by our office.
Our current products and rates are below.
Savings
| Account Name | Min Balance | Rate | APY |
|---|---|---|---|
| Statement Savings | $100.00* | 1.75% | 1.77% |
*$100 is required to open the account, however fees apply to a balance below $500. $250-$500: $4.00 service fee per quarter. Below $250: $9.00 fee per quarter.
Money Market
| Account Name | Min Balance | Rate | APY |
|---|---|---|---|
| Money Market Plus | $2,500.00* | 2.00% | 2.02% |
*Below $2500.00: a $5.00 per month fee; more than 6 checks written per month $10.00 fee per check.
Certificates of Deposit (CDs)
| Account Name | Min Balance | Rate | APY |
|---|---|---|---|
| 6 Month Money Market CD | $1,000.00 | 4.25% | 4.33% |
| 1 Year Money Market CD | $1,000.00 | 3.05% | 3.09% |
| 2 Year Money Market CD | $1,000.00 | 2.00% | 2.02% |
| 3 Year Money Market CD | $1,000.00 | 2.15% | 2.17% |
| 4 Year Exchange Rate CD* | $10,000.00 | 3.25% |
3.30% |
|
9 Month Special CD *New Money 13 Month Special Jumbo CD *New Money |
$1,000.00 $100,000.00 |
4.50% 5.00% |
4.59% 5.12% |
There is an early withdrawal penalty of three months interest for withdrawing funds from any account termed for 1 year or less. Accounts which are termed for more than a year carry an early withdrawal penalty of six months interest.
*In the four (4) year term, you may be able to update your rate one time. You must come into the bank or call us directly to change your rate.
Individual Retirement Account (IRA) CDs
| Account Name | Min Balance | Rate | APY |
|---|---|---|---|
|
Variable IRA- 18 Month 13 Month Special Jumbo* |
$100.00 $100,000.00 |
2.80% 4.75% |
2.84% 4.86% |
| IRA-25 Month Jumbo | $100,000.00 | 3.10% | 3.14% |
| IRA- 4 Year Exchange CD | $10,000.00 | 3.25% | 3.30% |
There is an early withdrawal penalty of three months interest for withdrawing funds from any account termed for 1 year or less. Accounts which are termed for more than a year carry an early withdrawal penalty of six months interest.
*Renewal to an 18 Month Variable IRA
Rates effective: February 1, 2023
APY = Annual Percentage Yield
Minimum Balance = The minimum balance required to earn the advertised annual percentage yield
Maintenance or activity fees could reduce the earnings on your account
If you would like to review your FDIC insurance coverage with your current accounts you can follow the link to the FDIC EDIE Calculator for calculating FDIC insurance coverage.