The following array of accounts lets you choose services based on your budget and previous check writing habits. The choice is yours! Each depositor is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).
Covenant FREE Checking
We want to give our customers convenient checking with all the extras you need to bank when, where and how you want - FREE! Covenant FREE Checking is a checking account with unlimited check writing, no minimum balance requirement and no monthly service charge. With this account, Online Banking and Bill Pay are free. ATM transactions at Covenant Bank ATM’s are free. Covenant Bank will also refund the fees other banks charge to use their ATMs. Covenant FREE Checking is a non-interest bearing account with a $50 minimum opening deposit required. When you open your account, your first order of checks is free.
Community Spirit
An interest bearing account with no maintenance fee as long as a minimum balance of $500 is kept in the account. If the minimum daily balance drops below $500, a service charge of $6.00 will be assessed per month. Unlimited check writing with no per check charge. By purchasing local school logo checks, you will make a tax deductible donation to that school system of $5.00 per box. This account requires a minimum initial deposit of $100.00. lf you choose, you can receive two boxes of bank wallet logo checks free per year. See separate brochure for more details.
Covenant Gold
This is the perfect account for our customers 50 years of age or older. The account has no monthly balance requirements and no service charge with unlimited check writing. This account is interest bearing if the daily balance stays at $500 or more per statement cycle. With this account, we provide two boxes of bank wallet logo checks free per year. Also, there will be no fee for telephone transfers and you will receive a discount on your safe deposit box. This account has a minimum initial deposit of $50.00.
Money Market Account
Watch your money grow in an account that works like a savings account, with no service charge if you maintain a $2,500 minimum balance or greater. If your balance drops below $2,500, the monthly maintenance fee is $10 and no interest will be paid. This account carries a transaction limitation. Higher interest rates are paid when your balance is above $10,000 or $50,000. Deposit Accounts and Services The following array of accounts lets you choose services based on your budget and previous check writing habits. The choice is yours! Each depositor is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).
Savings Account
A traditional account to help you save for your dreams. Save for a vacation, home, education, or a more secure retirement. Interest is paid on balances of $50 and greater. You receive a statement quarterly. An excessive transaction fee of $2.00 will be imposed for each withdrawal in excess of 3 per month. We also offer children’s (minor) savings accounts.
Christmas and Vacation Club Accounts
To help save for your dreams, Covenant Bank offers these special savings accounts at no charge and pays interest. Christmas Clubs open in November and pay out in November of the following year. Vacation clubs open in May and pay out in May of the following year. Merry Christmas and Bon Voyage!
Certificates of Deposit
Covenant Bank has a wide range of investment certificates of deposit. We pay competitive interest rates. The minimum deposit to open this type of account is $500. The annual percentage yield (APY) is determined at the time of deposit. A substantial interest penalty is required for early withdrawal. For your convenience most of our certificates are automatically renewed.
Individual Retirement Account (IRA) Certificate of Deposit
An Individual Retirement Account is one of the best tax savings investments for your retirement. Your investment is safe with Covenant Bank since your IRA deposits are separately insured up to $250,000 by the FDIC. A minimum investment of $250 is required to open an account, and as with a traditional Certificate of Deposit, a substantial interest penalty is required for early withdrawal.
Covenant FREE Business Checking
At Covenant Bank we believe in small businesses. We want to give our business customers convenient checking with all the extras you need to bank when, where and how you want - FREE! Covenant FREE Business Checking is a checking account with no minimum balance requirement and no monthly service charge. You have 500 free monthly debit transactions. A 25-cent (.25¢) fee will be charged for each additional debit transaction over 500 per month. There is no charge for deposit transactions. Online Banking and Bill Pay are free. Covenant FREE Business Checking is a non-interest bearing account with a $100 minimum opening deposit required.
Business Checking
An account that gives you check writing and no per check or deposit charge. By simply maintaining a minimum balance of $2,500 there will be no service charge on this account. If the balance falls below $2,500 on any day of the statement cycle, a $15 monthly service charge is imposed.
Business Money Market Account
Watch your money grow in an account that works like a savings account, with no service charge if you maintain a $2,500 minimum balance. If your balance drops below $2,500, the monthly maintenance charge of $15 will be imposed and no interest is paid. This account carries a transaction limitation. Higher interest rates are paid when your balance is above $10,000 or $50,000.
Overdraft Protection
Even if you think you’ll never overdraw your checking account, Overdraft Protection gives you extra peace of mind. In the event that sufficient funds are not available in your checking account, funds will be automatically transferred from your linked Covenant Bank savings or other checking account you designate. If you use your overdraft protection, there will be a $5.00 charge per transfer.
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The following array of accounts lets you choose services based on your budget and previous check writing habits. The choice is yours! Each depositor is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).
Covenant FREE Checking
We want to give our customers convenient checking with all the extras you need to bank when, where and how you want - FREE! Covenant FREE Checking is a checking account with unlimited check writing, no minimum balance requirement and no monthly service charge. With this account, Online Banking and Bill Pay are free. ATM transactions at Covenant Bank ATM’s are free. Covenant Bank will also refund the fees other banks charge to use their ATMs. Covenant FREE Checking is a non-interest bearing account with a $50 minimum opening deposit required. When you open your account, your first order of checks is free.
Community Spirit
An interest bearing account with no maintenance fee as long as a minimum balance of $500 is kept in the account. If the minimum daily balance drops below $500, a service charge of $6.00 will be assessed per month. Unlimited check writing with no per check charge. By purchasing local school logo checks, you will make a tax deductible donation to that school system of $5.00 per box. This account requires a minimum initial deposit of $100.00. lf you choose, you can receive two boxes of bank wallet logo checks free per year. See separate brochure for more details.
Covenant Gold
This is the perfect account for our customers 50 years of age or older. The account has no monthly balance requirements and no service charge with unlimited check writing. This account is interest bearing if the daily balance stays at $500 or more per statement cycle. With this account, we provide two boxes of bank wallet logo checks free per year. Also, there will be no fee for telephone transfers and you will receive a discount on your safe deposit box. This account has a minimum initial deposit of $50.00.
Money Market Account
Watch your money grow in an account that works like a savings account, with no service charge if you maintain a $2,500 minimum balance or greater. If your balance drops below $2,500, the monthly maintenance fee is $10 and no interest will be paid. This account carries a transaction limitation. Higher interest rates are paid when your balance is above $10,000 or $50,000. Deposit Accounts and Services The following array of accounts lets you choose services based on your budget and previous check writing habits. The choice is yours! Each depositor is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).
Savings Account
A traditional account to help you save for your dreams. Save for a vacation, home, education, or a more secure retirement. Interest is paid on balances of $50 and greater. You receive a statement quarterly. An excessive transaction fee of $2.00 will be imposed for each withdrawal in excess of 3 per month. We also offer children’s (minor) savings accounts.
Christmas and Vacation Club Accounts
To help save for your dreams, Covenant Bank offers these special savings accounts at no charge and pays interest. Christmas Clubs open in November and pay out in November of the following year. Vacation clubs open in May and pay out in May of the following year. Merry Christmas and Bon Voyage!
Certificates of Deposit
Covenant Bank has a wide range of investment certificates of deposit. We pay competitive interest rates. The minimum deposit to open this type of account is $500. The annual percentage yield (APY) is determined at the time of deposit. A substantial interest penalty is required for early withdrawal. For your convenience most of our certificates are automatically renewed.
Individual Retirement Account (IRA) Certificate of Deposit
An Individual Retirement Account is one of the best tax savings investments for your retirement. Your investment is safe with Covenant Bank since your IRA deposits are separately insured up to $250,000 by the FDIC. A minimum investment of $250 is required to open an account, and as with a traditional Certificate of Deposit, a substantial interest penalty is required for early withdrawal.
Covenant FREE Business Checking
At Covenant Bank we believe in small businesses. We want to give our business customers convenient checking with all the extras you need to bank when, where and how you want - FREE! Covenant FREE Business Checking is a checking account with no minimum balance requirement and no monthly service charge. You have 500 free monthly debit transactions. A 25-cent (.25¢) fee will be charged for each additional debit transaction over 500 per month. There is no charge for deposit transactions. Online Banking and Bill Pay are free. Covenant FREE Business Checking is a non-interest bearing account with a $100 minimum opening deposit required.
Business Checking
An account that gives you check writing and no per check or deposit charge. By simply maintaining a minimum balance of $2,500 there will be no service charge on this account. If the balance falls below $2,500 on any day of the statement cycle, a $15 monthly service charge is imposed.
Business Money Market Account
Watch your money grow in an account that works like a savings account, with no service charge if you maintain a $2,500 minimum balance. If your balance drops below $2,500, the monthly maintenance charge of $15 will be imposed and no interest is paid. This account carries a transaction limitation. Higher interest rates are paid when your balance is above $10,000 or $50,000.
Overdraft Protection
Even if you think you’ll never overdraw your checking account, Overdraft Protection gives you extra peace of mind. In the event that sufficient funds are not available in your checking account, funds will be automatically transferred from your linked Covenant Bank savings or other checking account you designate. If you use your overdraft protection, there will be a $5.00 charge per transfer.
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