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CDs and IRAs

The Savings Bank offers secure longer-term savings options to help you grow excess funds or build secure savings for your future.

Your Deposits Are Insured in Full
All deposits are insured by the FDIC and DIF.

Slider - CDs and IRAs

Certificates of Deposit (CDs)

The Savings Bank offers CDs from 4 months to 60 months. Choose your term and lock into a competitive interest rate.

In addition, when you open any new CD, 4 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 4 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.


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

Maryellen Murphy
Retirement Services Clerk

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.

From our customers
“I spoke to Theresa today and she was incredibly helpful! That is why I bank with you! The personal touch is what makes the difference!”

From our customers
“Great people. Great service. Convenient.”

From our customers
“I mostly use the Methuen branch. All of the tellers have been wonderful and the branch manager is fabulous.”

From our customers
“I basically never have to go to the bank to deposit a check. it can be done from my phone saving me time, trips and gas which means I can focus on other important tasks.”

From our customers
“Love the tellers at the Lynnfield Center location. Very professional and caring.”

From our customers
“I am older and appreciate the ease of banking online. I always get good service at the branches I visit.”

From our customers
“Love Lakeside. Mario and staff always greet me by my first name.”

From our customers
“I found your online banking system very user-friendly. I also would like to mention that the staff in the Wakefield branch are professional and very helpful.”

From our customers
“Bank personnel are always so willing to help. They always greet us with a smile. In this world today, it makes us feel good!”

From our customers
“Banking with The Savings Bank was with me for several years & it will always be my bank forever!!”

From our customers
“I love it here!! Best service all around.”

From our customers
“Their community involvement has made a huge difference in Wakefield over the years.”

From our customers
“Such a great support center when you need help, and the technology has kept up. I use Zelle which solved a banking problem I had had for years. The team in Greenwood is absolutely excellent! Thank you all.”

From our customers
“The employees are knowledgeable, reliable, industrious as well as kind and personable.”

From our customers
“Always helpful whether in the branch or online!”

From our customers
“The whole banking center experience is excellent. The website is superior to most for my wants/needs to obtain and store on MY own computer our home banking records.”

From our customers
“Competent, knowledgeable, customer-focused, and very warm and friendly employees.”

Talk to The Savings Bank

To find out how The Savings Bank can help you achieve all your financial goals, visit one of our offices, use our contact form, or call us at 800-246-2009.

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