Savings & Investments
Statement Savings- This interest bearing account is suited for customers who wish to begin saving for the future.
- Minimum Balance of $25.00
- $.50 fee if balance falls below $25.00 per calendar month
- Maximum of 4 withdrawals per month
- $1.00 fee for each withdrawal in excess of the 4 allowed per calendar month
- Semi-Annual Interest
Money Market- This interest bearing account is available to customers who maintain a balance in excess of $1,000 in their savings account and are looking for limited check writing privileges.
- Minimum balance of $1,000.00
- $5.00 monthly fee if average balance falls below $1,000.00
- Monthly interest
- Limited check writing
- Imaged Statements
Certificate of Deposit- This product is best suited for business customers who wish to invest their funds in a Time Deposit with terms ranging from 3 months to 5 years.
- Minimum balance of $1,000
- Variable terms
- Automatic renewal at maturity
- Premium interest rate
- Stepped rate options
CDARS (Certificate of Deposit Account Registry Service)- This product is the most convenient way for safety-conscious investors to access FDIC insurance on multi-million-dollar deposits.
- Earn CD-level returns which may compare favorably with those of Treasuries and other high quality investments (Consult a Bank of Ocean City employee regarding rates)
- Enjoy the time saving convenience associated with one agreement, one rate and one regular statement…all at one bank
- Take advantage of a convenient alternative to commercial paper, money market mutual funds and sweep accounts
- No early withdraw