Business Savings
Savings Tools for YOU:
Savings Tools for YOUR EMPLOYEES:
Certificates of Deposit (CDs)
- CDs are our highest-paying savings instruments.
- Terms from 91 days to five years.
Additional deposits cannot be made to certificates before they have matured and a penalty may be imposed for withdrawal before maturity. There is a seven-day grace period following the day of maturity during which you are allowed to make deposits or withdrawals without penalty, otherwise the funds in the certificate will roll over for another full term. Interest can be credited to your certificate each month or you may elect to receive a monthly interest check or you may elect to have the interest credited to another account (other than a certificate of deposit).
Money Market Savings Accounts
- Competitive interest rates
- FREE Online Banking
- No or low monthly account maintenance fees
- No or low minimum balances to avoid fees
- No ATM fees for No SUR! Network ATMs
- FREE 24-hour telephone banking
Account Terms and Conditions subject to change. See our Rate Disclosure information at your nearest Naugatuck Valley Savings and Loan office.
Health Savings Accounts (HSAs)
HSAs provide a tax-free way for your employees to save for medical expenses. To be eligible, your organization must be covered by a high deductible health plan (HDHP). An HDHP features higher annual deductibles than other health plans. To confirm your eligibility, speak with your benefits manager, health plan representative or tax advisor. You can also find answers to frequently asked questions on the U.S. Treasury Department Web site: http://www.treasury.gov/resource-center/faqs/Taxes/Pages/Health-Savings-Accounts.aspx
Easily access your funds by using your HSA VISA® Debit Card, Online Bill Pay, or writing checks. Since record keeping is very important on HSAs, participants will receive a free monthly statement including all transactions and images of cancelled checks. Participants enjoy:
- No minimum balance required to open the account
- Competitive interest rates
- No annual or monthly fee
- Unlimited check writing
- Free HSA VISA® debit card per authorized user
- Free Standard HSA checks
- Free monthly statement
- Free 24 hour online banking, bill pay, mobile banking and voice response
For more information about the Naugatuck Valley Savings and Loan HSA, please contact our HSA expert, Carla Abate,
by e-mail now or by calling 203-720-5000.
