Northway Bank offers deposit accounts designed to meet the needs of municipalities, schools, and other publicly funded entities.
Evaluate our Collateralized NOW and Municipal Money Market accounts to see which is the best fit for your organization's expected balance and transaction volume.
Collateralized NOW
The Collateralized NOW account is an interest-bearing checking account that gives your municipality or school the convenience of unlimited check writing. You'll earn interest on your $10,000 minimum balance and avoid all service fees. Account balances in excess of the FDIC insurance limit are fully collateralized with permissible securities.
Collateralized Now Features
- $100 minimum to open
- Earn interest with $10,000 minimum daily balance
- No monthly service fees or transaction fees
- Account balances in excess of the FDIC insurance limit are fully collateralized with permissible securities
Municipal Money Market Features
- $1,000 minimum balance to open
- $1,000 minimum daily balance to earn interest
- A service fee of $8 will be waived every statement cycle that the average daily collected balance does not fall below $1,000
- Unlimited transactions
- Account balances in excess of the FDIC insurance limit are fully collateralized with permissible securities
Account is only available to local municipalities and state and federal entities.
Customer Service 800-442-6666
24-Hour Telephone Banking 888-568-6310
NMLS #405698