At American Savings Bank, there are as many choices for your accounts as there are types of customers. We pride ourselves in working with you and serving your individual needs. If you have any questions, please give any of our new account representatives a call. While we try to customize your account to your specific needs, you can find a general description of the services we provide below or take a look at our
Current Rates and Special Offers.



Savings Accounts

Traditional Passbook Savings Accounts

Passbook savings accounts take $10 to open and maintain, interest is compounded quarterly with no monthly maintenance service charge. During any month, you may not make more than six (6) withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephonic order or instruction, whether initiated by check, draft, debit card, if applicable, or similar order to a third party. This includes online banking and automatic billpay.


Statement Savings Account

This savings account is better for you if you are planning on receiving a direct deposit (such as Social Security) and do not have the need to write checks. A Statement Savings account takes $10 to open. If you maintain a balance of at least $100 throughout the statement cycle you can avoid a $3.00 monthly maintenance service charge. Interest is compounded monthly. During any month, you may not make more than six (6) withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephonic order or instruction, whether initiated by check, draft, debit card, if applicable, or similar order to a third party. This includes online banking and automatic billpay.


Christmas Club

If you want to save money year-round for holiday shopping (with cash - forget those credit cards!), this account is for you! You can open the account (before January 31, please) with any amount you like, make weekly payments and receives 2% interest, no compounding. There is a $10 fee for early closeout or partial withdrawals.





Checking/NOW Accounts

Minimum deposit to open: $100
Debit card available - you may make unlimited withdrawals or transfers per day. Limit of $505 in withdrawals or transfers per day in combination with $500 of point-of-sale transactions

Value Checking

• No monthly maintenance service charge
• No Interest paid on account
• Monthly Statement
• Unlimited check clearings
• Free bill pay and Internet banking
• Debit Card available
• Available for students

Value Plus Checking

• Monthly maintenance service charge $3.00
• Imaged checks included with monthly statement
• No interest paid on account
• Unlimited check clearings
• Free bill pay and Internet banking
• Debit Card available

Preferred Checking

Earns interest as long as account maintains $500.00. If account drops below $500.00 any day the account does not earn interest that day.

No maintenance service charge as long as account maintains $1,000.00. If account drops below $1,000.00 any day of the statement cycle a monthly maintenance service charge of $5.00 will be assessed.

• Monthly statement
• Unlimited check clearings
• Free bill pay and Internet banking
• Debit Card available

Preferred Plus Checking

Earns interest as long as account maintains $500.00. If account drops below $500.00 any day the account does not earn interest that day.

No monthly maintenance service charge as long as account maintains $1,000.00. If account drops below $1,000.00 any day of the statement cycle a monthly maintenance service charge of $6.00 will be assessed.

• Imaged checks included with monthly statement
• Unlimited check clearings
• Free bill pay and Internet banking
• Debit Card available

Senior Select (age 55+) Checking

• Earns interest with balance of $500.00
• No monthly maintenance service charge
• Can include imaged checks with monthly statement
• Unlimited check clearings
• Free wallet-style checks ($5.00 discount on other styles)
• Free bill pay and Internet banking
• Debit Card available

Organizational Checking

• Earns interest with a balance of $100.00. If account drops below $100.00 any day the account does not earn interest that day.
  
  
• No monthly maintenance service charge, unless imaged copies of checks are returned - $3.00
• Can include imaged checks with monthly statement
• Unlimited check clearings
• Free bill pay and Internet banking
• Debit Card available

Investor Money Market Deposit Account

If you are looking for an account with a higher interest rate than a checking account, yet is more liquid than a CD, then our Investors Money Market just may be the account for which you are looking. Interest is compounded monthly and the interest rates are dependent upon the balance in the account. The interest rates in the Investors Money Market are decidedly higher than in regular checking accounts. This account still allows you to write checks and transfer funds to other accounts. If you maintain a balance of at least $2,500 throughout the statement cycle, you can avoid a $3.00 monthly fee. During any month, you may not make more than six (6) withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephonic order or instruction, whether initiated by check, draft, debit card, if applicable, or similar order to a third party. This includes online banking and automatic billpay.



Health Savings Account

A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. Contributions to your HSA can be made by you, your employer, or both. You must also have coverage under an HSA-qualified “high deductible health plan” (HDHP). Your interest rate and annual percentage yield (APY) may change daily, at our discretion. Interest begins to accrue on the day after the date of your deposit and is compounded and credited on the last day of your statement cycle. If you close your account before interest is credited, accrued interest will be paid. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.



Certificates of Deposits/IRAs

We offer a myriad of Certificates with terms to meet your needs. You may open a Certificate with as little as $500. Interest is compounded and credited to your account semi-annually (Certificates less than 1 year receive no compounding). The account will automatically renew at maturity (except Jumbo Certificates). You will have 10 calendar days from the maturity date to withdraw your funds without being assessed a penalty. After the account is opened, you may not make withdrawals or deposits until the maturity date without a penalty. The Annual Percentage Yield (APY) assumes interest remains on deposit until maturity and that a withdrawal will reduce earnings. If your term is a year or less, you will receive a 3-month loss of interest. If it is longer than one year, you will receive a 6-month loss of interest. During any month, you may not make more than six (6) withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephonic order or instruction, whether initiated by check, draft, debit card, if applicable, or similar order to a third party. This includes online banking and automatic billpay. Take a look at our
Current Rates and Special Offers to see all of our CD and IRA rates.



Interest Accrual

Effective 3/15/08 the interest accrual method will be as follows: Interest will begin to accrue on the day of deposit