Markets go up and down... we've been right here since 1907. As a community bank, you can rest easy knowing that your money is safe, insured, and stays local!
We're ready to walk alongside you, today and tomorrow.
Personal Savings
- $5.00 minimum opening deposit required
- No minimum balance requirements
- Interest is compounded daily and credited quarterly*
- Free quarterly eStatement
- Utilize an Insured Cash Sweep for higher dollar amounts!
Money Market Savings
- $2,500.00 minimum opening deposit required
- If daily balance falls below $2,500.00, rate changes to Personal Savings rate
- Interest is compounded and credited monthly
- Higher interest rates paid for balances over $10,000, $50,000, $100,000, and $200,000
- Free monthly eStatement
- Checks available for purchase
- Utilize an Insured Cash Sweep for higher dollar amounts!
*Rates are subject to change at any time.
Access multi-million-dollar FDIC coverage with Insured Cash Sweep
Insured Cash Sweep (ICS) + CEDARS are financial products designed to maximize FDIC insurance on large cash deposits.
First, deposit all of your funds into your Money Market Account at Glenwood State Bank. Then, your deposits are split into increments under $250,000.00 and are placed in Money Market Accounts and Certificate of Deposits at other participating institutions to increase your FDIC coverage. Glenwood State Bank remains in control and acts as a custodian for your funds*. You do not pay a fee for this service and receive one consolidated monthly statement from Glenwood State Bank.
- Save time by working with one bank
- Enjoy peace of mind knowing your deposits are protected
- Earn our competitive interest rates
- Unlimited access to your funds
- Monitor your funds online 24/7
Ready to get started?
Contact one of our ICS experts!
* ICS is provided by IntraFi Network LLC
* The Bank of New York Mellon acts as subcustodian