Checking

Choose the checking account that works with your busy life. Value, feature and benefits all included!

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Savings, Money Market and CDs

Set off on a road to financial freedom with a variety of interest-earning savings account options.

  • Personal Savings – Our easy-access Personal Savings account is designed for individuals who want to receive an easy-to-read quarterly statement
  • Money Market Plus – Designed for individuals and businesses who want to earn higher interest rates, maintain full liquidity of their funds and have the ability to write checks to access their funds
  • Platinum Market Rate – Also designed for individuals who want to earn higher interest rates, maintain full liquidity of their funds and have the ability to write checks to access to their funds
  • Certificate of Deposit – A safe, reliable and surprisingly flexible way to save for the future
  • Retirement/IRAs – The most important step in retirement planning is getting started
  • Education Savings – Discover the right tax-advantaged strategy to meet your savings goals for your child or grandchild

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Overdrawing your account can be a costly error. To help minimize the financial and emotional impact that often occurs as the result of overdrawing your account, we offer the following overdraft protection services:

Linked Accounts

  • Link any eligible Mechanics Bank checking, savings and/or money market accounts so that, in the event of an overdraft, available funds are automatically transferred between accounts
  • Certain account types are subject to a limited number of transfers per month or statement cycle

More details

Is linking your accounts the best overdraft solution for you?

Pros
  • Avoid non-sufficient funds and additional overdraft fees
  • Balances are FDIC insured to the maximum allowed by law
  • No credit approval required
  • No interest charged on overdraft advances
  • For certain linked accounts, interest is earned
Cons
  • Need to have and maintain sufficient balances to cover potential overdrafts
  • Small transfer fee for each overdraft advance
  • For savings and money market accounts, an excessive transaction fee may be charged if certain transactions exceed six (6) during any calendar month
  • Account may be converted to a non-interest bearing account if transaction limits are frequently exceeded
Linked Account Program Details
Eligible account types Checking, Savings, Money Market
Minimum opening deposit Varies by product
Approval/Eligibility ChexSystems
Limit Balances the linked account(s)
Monthly service charge Varies by product
Ways to waive service charge Varies by product
Interest rate/finance charge For current interest rates, call 800.797.6324
Other fees
  • Overdraft transfer fee: $5.00 per transaction
  • Excess transaction fee: $15.00 check charge will apply when more than (6) checks are processed during the month/account (money market accounts only)
Requirements/
Restrictions
  • A personal checking account
  • Limited to six (6) withdrawals and/or transfers per month1 (savings and money market accounts only)
  • Transfers are in increments of $50.00
  • Account ownership must be the same on linked account(s)

Overdraft Line of Credit

  • An overdraft line of credit is a loan attached to your consumer checking account
  • You must apply for a line of credit and are subject to credit approval 

More details

Is an overdraft line of credit the best solution for you?

Pros
  • Avoid non-sufficient funds and additional overdraft fees
  • Doesn't require additional deposit balances or reserve to cover potential overdrafts
  • Maximum credit limit of up to $5,000
  • Outstanding balance can be paid back over time (plus no 30-day out of debt requirement)
  • No regulatory limit on the number of transactions per month
Cons
  • Credit approval required so it is only available to credit worthy individuals
  • Interest charged on outgoing balance
  • Overdraft transfers must be in increments of $50.00
  • Transfer fee for each advance
Monthly service charge
Monthly service charge Varies by product
Ways to waive service charge Varies by product
Interest rate/finance charge For current interest rates, call 800.797.6324
Other fees
  • Transfer/advance fee: $5.00 per transaction
  • Late fee: $10.00 
Requirements/
Restrictions
  • Monthly payment via auto debit
  • Minimum payment:
    • Less than $25: entire balance due
    • $25-$500: $25 plus any past due amount
    • Over $500: %% of the balance owing plus any past due amount
  • Transfers in increments of $50.00 or the amount of credit available, whichever is less

Overdraft Privilege

  • Allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction
  • Even if you have Overdraft Protection, Overdraft Privilege is still available as a secondary coverage if the other protection source is exhausted 
  • Please review the "What Else You Should Know" information included under More details

More details

 
Transactions Covered with
Overdraft Privilege
for which a fee for paying an overdraft may be imposed

 
Standard Coverage
(No action required)
Extended Coverage
(Your consent required) *
 Checks X X
 ACH - Automatic Debits X X
 Recurring Debit Card Payments X X
 Online Bill Pay Items X X
 Internet Banking Transfers X X
 Telephone Banking X X
 Teller Window Transactions X X
 ATM Transactions   X
 Everyday Debit Card Transactions   X

If you have any questions about Overdraft Protection, Overdraft Privilege, or Extended Coverage, please call us at (800) 797-6324 or visit a branch.

What Else You Should Know

Overdraft Privilege is our standard overdraft program, provided for accounts that meet our Overdraft Privilege eligibility criteria. This is an automated discretionary overdraft program for eligible checking accounts. As part of Overdraft Privilege, we may authorize and pay checks and other charges that exceed the balance that is available to pay items to your account each day.

Accounts with Overdraft Privilege (Standard Coverage) provides overdraft coverage for checks, ACH (automatic debits), recurring debit card transactions, teller transactions, and telephone and internet banking transactions. Should an overdraft occur on your account, our normal fees and charges still apply whether or not the Item(s) is (are) paid by the Overdraft Privilege.

Accounts with Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the Standard Coverage transactions listed above.

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

Fees:
Should an overdraft occur on your account, our normal fees and charges still apply whether or not the Item(s) is (are) paid by the Overdraft Privilege, including:

For Consumer Accounts:

  • Overdraft or Returned Item fees will not be charged if the balance in your account is overdrawn by $10 or less after posting all transactions after the end of the business day.
  • We will charge an Overdraft or Returned Item fee of $10 for any item $10 or less that overdraws your account by more than $10 after posting all transactions after the end of the business day.
  • We will charge an Overdraft or Returned Item fee of $29 for any item greater than $10 that overdraws your account by more than $10 after posting all transactions after the end of the business day.
  • The maximum Overdraft or Returned Item Fees charged per business day is $116.
  • All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
  • No Overdraft Fee or Continuous Overdraft Fees will be charged if we honor a one-time (“everyday”) debit card transaction or ATM withdrawal unless you have expressly consented to have such transactions covered by Overdraft Privilege.

For Business Accounts:

  • We will charge a $35 Overdraft Fee when an item is paid or a $35 Return Item Fee when an item is returned.
  • There is a daily limit of 10 paid or returned items per day that we will charge ($350).
  • All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.

If your Consumer or Business account balance remains overdrawn for longer than 5 business days, we will charge your account a Continuous Overdraft Fee of $5 for each of the consecutive business days the account remains overdrawn, beginning on the 5th business day and ending on the 14th business day.

Your Obligation to Cover Overdrafts:
Depositors and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand. Each Authorized Signer will continue to be obligated for all such amounts. Funds from your next deposit may be used to cover any overdrafts; however your account must be brought to a positive balance no later than thirty two (32) days after the initial overdraft occurred for at least one business day.

CLICK HERE FOR MORE INFORMATION REGARDING OUR OVERDRAFT PRIVILEGE POLICY

If you would like to opt-in to the payment of ATM or everyday debit card transactions (Extended Coverage), you can: