With friendly faces and outstanding customer service, Covenant Bank continues to be your hometown bank. At Covenant Bank, we don't see our customers as just another account, we see them as an important part of what makes our communities special and a partner in making our area to be an even better place to live and raise a family. Take a look at some of the ways we can serve you.
Checking Accounts
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 as-sessed 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. lfyou choose, you can receive two boxes of bank
wallet logo checks free per year.
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.
Saving Accounts
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 & Vacation Club
A traditional account 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 RetirementAccount is one ofthe best tax savings
investments for your retirement. Your investment is safe with
Covenant Bank since your IRAdeposits 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.
Other Accounts
Money Market Account
Watch your money grow in an account that works like a savings
account, with no service charge if you maintain a $2500 minimum
balance or greater. If your balance drops below $2500, 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.
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