Rockland Savings Bank Rates & Review

Rockland Savings Bank Review

Based in Rockland, Maine, Rockland Savings Bank, FSB, is a mutual association that is locally owned and operated by community members.

Rockland Savings Bank, FSB offers deposit accounts, loans, commercial banking products and various additional services. It operates a single location in Rockland, Maine. The bank has been in operation since 1888 and is a member of the FDIC.

Deposit accounts

The bank's three personal checking accounts are a basic checking account, a NOW checking account and a money market checking account. The latter two are interest-bearing accounts.

The bank's three standard savings account types are passbook savings, statement savings and a Christmas Club account. Additional savings account options are CD accounts and IRAs with minimum deposits of $500 and terms ranging from 3 months to 5 years.

Bank loans

Rockland Savings Bank provides customers with mortgage loans and other consumer loans. Mortgage loans include fixed-rate and adjustable-rate mortgages as well as construction loans and first time home buyer loans.

Consumer loans include:

• Auto loans and RV loans
• Home equity lines of credit
• Home improvement loans
• Savings secured/ share loans
• Overdraft protection loans

Consumer loans come with flexible repayment terms. They can be enhanced with credit life and disability insurance.

Commercial banking

Rockland Savings Bank provides commercial checking accounts as well as commercial loans. There are multiple checking account options but all are free of service fees (except for such fees as overdraft fees and stop payment fees). Commercial loans include real estate loans as well as general small business loans.

Banking services

This bank offers online banking with account transfers and check imaging. Additional services include phone banking, debit/ ATM cards, wire transfers, safe deposit boxes, night deposits, free notary services and savings bonds.

Deposit insurance

Rockland Savings Bank, FSB, has been insured by the Federal Deposit Insurance Corporation since 1954.

In July 2010, FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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