The Savings Bank offers secure longer-term savings options to help you grow excess funds or build secure savings for your future.
All deposits are insured by the FDIC and DIF.



Certificates of Deposit (CDs)
The Savings Bank offers CDs from 6 months to 60 months. Choose your term and lock into a competitive interest rate.
In addition, when you open any new CD, 6 months or longer, you are eligible to open a Companion Savings of equal or lesser value of the CD for a high yield, no-commitment option.
Individual Retirement Accounts (IRAs)
IRAs offer an easy and convenient way to save for your retirement; one of the most important things you can do for yourself in order to ensure your future financial well-being. You can choose your term from 6 months to 60 months and lock into a competitive interest rate with a guaranteed rate of return.
Please note: We are unable to open IRA accounts online at this time.
Traditional IRA
- Contributions may be tax-deductible
- Seek guidance from your tax preparer or accountant
- Earnings are tax-deferred, not tax-free
- No age limit to make contributions as long as you have reportable earned income
Roth IRA
- Tax-free withdrawals of earnings are permitted — Must be a qualified distribution
- No age limit to make contributions as long as you have reportable earned income
- No required distributions are necessary
Coverdell Education IRA
An Education IRA to help parents and guardians cover the costs of their child’s education and the expenses associated with it. For instance, tuition, books, fees, room, board, laptop, and even cell phones.
SEP IRA
Simplified Employee Pension (SEP) plans can provide a significant source of income at retirement by allowing self-employed individuals or small business owners to set aside money in retirement accounts for themselves and their employees.
IRA Specialists
We have IRA Specialists on staff at TSB with extensive product knowledge to assist with any of your retirement needs. All questions pertaining to establishing a new IRA, transferring from another institution, or rollovers, will be answered for you. (Please note: Email is not secure).
Kim Cournoyer
Assistant Vice President
Retirement Officer
781-224-5467
kcournoyer@tsbawake24.com
Maryellen Murphy
Retirement Services Clerk
781-486-5531
mmurphy@tsbawake24.com
Deposit Insurance
Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF). Click for information about Deposit Insurance.
Talk to The Savings Bank
To find out how The Savings Bank can help you achieve all your financial goals, visit one of our branch locations, use our contact form, or call us at 800-246-2009.