Bump Up CD or IRA

Our Bump Up CD or IRA is a great way to save and earn interest. Plus if our rates go up, you can "bump up" your rate one time prior to maturity. You get the best of both worlds: security and flexibility.

  • $1,500 minimum to open
  • Early withdrawal penalty


*Annual Percentage Yield (APY): .85%.  The annual percentage yield is effective as of 07/27/16 and is subject to change at any time. Annual percentage yield assumes principal and interest remain on deposit for the term of the certificate. Interest is compounded daily. Penalty will be imposed for early withdrawal. A withdrawal of the interest will reduce earnings. Fees could reduce earnings on the account. A $1,500.00 minimum balance is required to earn advertised annual percentage yield. The interest rate will be fixed for the term of the account unless the bump up option is exercised. Rate Bump: During the term of this 3 Year CD/IRA, and upon written authorization from any accountholder, a one-time option to adjust the Rate of Interest is permitted. The rate will be adjusted for the remainder of the term of the certificate, to Mechanics Savings Bank rate that is in effect for a 3 Year Regular CD/IRA (non-promotional rate) at the time of the adjustment.