Page Header

Consumer Savings & Investments

Watch your savings grow in a Silver Lake Bank Certificate of Deposit, Individual Retirement Account (IRA), Passbook Savings, Sterling Money Market or Sterling Money Market Advantage Account.


Sterling Money Market Account

Specially designed package of banking privileges and discounts for customers wanting to obtain higher yields on their funds while not sacrificing the safety of the funds.

  • $1,000 will open the account
  • Monthly service charge
    ACB1 of $2,000 or more — no monthly service charge
    ACB1 less than $2,000 — $5 monthly service charge
  • Subject to regulatory withdrawal limitations2
  • No fees for ATM3 and in person transactions. All other type withdrawals posted per month in excess of 6, are $2 each.
  • Interest compounded and credited on each monthly statement date.
  • Monthly eStatement is free. Paper statements are $2 per statement period.

Additional Sterling Benefits

  • 1/2% discount on consumer (non-residential) loans
  • No fee for ATM3 transactions at SLB or other Transfund surcharge-free ATMs.
  • No fee on money orders, cashiers checks or travelers checks
  • 10% discount on annual safe deposit box rental
  • Free Sterling Checks

Sterling Money Market Advantage

In addition to the Sterling Money Market Account features and benefits listed above, customers meeting relationship balance requirements will enjoy Sterling Money Market Advantage by receiving tiered premium rates of interest on Sterling Money Market Account balances.

  • Balance requirements consist of combined deposit and/or loan balances of $25,000 or greater.4
  • A Silver Lake Bank checking account must be maintained with a minimum of two transactions per month, deposits or withdrawals.
  • Subject to regulatory withdrawal limitations.2
  • No fees for ATM3 and in person transactions. All other type withdrawals posted per month in excess of 6, are $2 each.
  • Interest compounded and credited on each monthly statement date.
  • Monthly eStatement is free. Paper statements are $2 per statement period.

Regular Savings

  • $50 will open account
  • No quarterly service charge if an ACB1 of $200 or more is maintained. If ACB1 falls below $200, a $9 quarterly service charge will apply ($3 each month ACB1 less than $200).
  • Accounts with electronic activity will receive a monthly statement. No charge if an ACB1 of $200 is maintained; otherwise, a $3 monthly service charge will be assessed.
  • Subject to regulatory withdrawal limitations.2
  • Up to 3 withdrawals per month free. Additional withdrawals are $1 each. No fee for ATM3 withdrawals and Internet Banking transfers.
  • Interest compounded and credited quarterly on statement dates - February 28, May 31, August 31, and November 30.
  • Accounts for children under 18 can be opened with any amount and will not receive the monthly service charge.
  • eStatements are free. Paper statements are $2 per statement period.

Certificates of Deposit

  • $500 will open account
  • Variety of terms available to accommodate your needs
  • Interest compounds quarterly on maturities of twelve months or longer
  • Interest payment options available
  • Automatically renewable for your convenience

Individual Retirement Accounts

  • $500 will open account
  • Variety of terms and types available to accommodate your needs
  • Interest compounds quarterly on maturities of twelve months or longer
  • Automatically renewable for your convenience
  • No administrative fees to open or maintain

Health Savings Accounts (HSA)

Health Savings Accounts are used to pay the health care costs of participants enrolled in a high deductible health plan specifically approved for use with HSA's. Your insurance provider can tell you if your policy qualifies you for a Health Savings Account. The money deposited, as well as the interest earned, is tax-deferred. Use HSA funds to pay for qualified medical expenses tax-free.

Silver Lake Bank has the following types of Health Savings Accounts options; checking account, money market investment account and certificate of deposit. The minimum opening deposit for the checking or money market investment account is $100. The certificate of deposit requires $500. A low one time set-up fee of $15 for your first HSA is assessed at account opening.

HSA Checking

Pay your health care expenses with a variety of payment options such as check writing, VISA® Check card and bill pay. The features of this account are listed below.

  • Monthly service charge is $5. When your monthly ACB1 is $2,500 or greater, your charge is $0.
  • Earn interest by receiving tiered premium rates on your collected balance. Interest compounds monthly.
  • 1st set of 50 checks free.
  • Unlimited check writing.
  • Free VISA® Check Card.
  • Free Silver Express Internet Banking allowing online access to your account.
  • Free Online Bill Payment when 2 or more bills are paid each month.5
  • Monthly eStatement is free. Paper statements are $2 per statement period.

HSA Money Market Investment Account

Ideal for the eligible HSA participant who desires an interest rate higher than what is paid on the HSA checking account. Funds can be parked in this account until medical expenses are incurred, then transferred by you to the HSA checking account for proper documentation of HSA distributions for tax reporting purposes. The features of this account are listed below.

  • Monthly service charge is $5. When your monthly ACB1 is $2,000 or greater, your charge is $0.
  • Earns interest by receiving competitive tiered money market rates on your collected balance. Interest compounds monthly.
  • Free Silver Express Internet Banking allows online access to your account with the ability to transfer to your HSA checking for payment of medical expenses.
  • Monthly eStatement is free. Paper statements are $2 per statement period.
  • Subject to regulatory withdrawals limitations.2
  • No fees for ATM3 and in person transactions. All other type withdrawals posted per month in excess of 6, are $3 each.

HSA Certificate of Deposit

An option for savers accumulating HSA funds and paying medical expenses out of pocket. Certificates of Deposit offer fixed rates of interest. Early withdrawal penalties apply.

  • Variety of terms available to accommodate your needs.
  • Interest compounds quarterly on maturities of twelve months or longer.
  • Automatically renewable for your convenience.

1ACB= Average Collected Balance
2Regulatory Limitations - Unlimited access to account when made in person or through ATM withdrawals. Six preauthorized/automatic funds transfers (which includes checks) are allowed per month. No checks can be written on passbook savings.
3No fee at SLB ATMs or other TransFund Surcharge-free ATMs. See complete list.
4To determine balance eligibility, total average collected deposit and current loan balances from prior month end will be used.
5Bill Payment = Silver Express Online Bill Payment is available free to consumer customers who pay two (2) or more bills per calendar month. Consumers paying less than two (2) bills per month will be assessed a $5 monthly service charge.