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Personal Savings Accounts

Mitchell offers either a Statement or a Passbook Savings option.

  • $100 minimum opening balance
  • $3 monthly service fee unless you maintain a daily balance of $100
  • Limit of six pre-authorized withdrawals per statement cycle
  • Unlimited in-person and ATM withdrawals
  • A record of your account activity in either a monthly statement or a personal passbook
  • An ATM card is available with the Statement Savings option

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Junior Passbook Savings

For those under 18 we offer a savings solution in the form of our Junior Passbook.

  • $25 minimum opening balance
  • $4 monthly service fee unless you maintain a daily balance of $25
  • A limit of one (1) withdrawal a month
  • Must be 17 years or under
  • An adult accountholder must accompany withdrawals

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Christmas Clubs

A solution to help save for the holidays. With a minimum opening balance of $10, you can begin a savings plan. There is a $5 penalty for accounts closed before we issue the Christmas Club checks in October of each year.

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Money Market Deposit Account

A solution for people who want to earn a competitive rate on their savings, yet keep the benefits of liquidity and have access to their funds.

  • $1000 minimum opening balance
  • $15 monthly service fee unless you maintain a daily balance of $1000
  • Limit of six pre-authorized withdrawals per statement cycle of which no more than three can be by check
  • Unlimited in-person and ATM withdrawals

    Return to Business Services page.

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Certificates of Deposit (CDs)

Mitchell Bank’s various CDs are the solution for you if you’re looking to get higher returns on your savings. With terms ranging from 91 Days to 60 Months and minimum balances of only $1,000, there are plenty of options to choose from. Generally, the longer the term the more interest you will earn. When your CD matures, you can rollover or renew your CD at the then-current rate for your term. There is a substantial penalty for early withdrawal; the penalty will be based on the term of the account and the interest rate. Withdrawals are allowed during a 10-day grace period following maturity.

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Individual Retirement Accounts (IRAs)

We offer a variety of IRA solutions to help you meet your retirement planning needs. Ask about Roth, Traditional, and the most recent Educational IRAs. In addition to CDs, we offer a Money Market IRA that you can make contributions to throughout the year. Given the complex rules and potential tax implications associated with retirement accounts, it’s advisable to consult with an accountant or attorney for more details.

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