Cash Reserve (Overdraft Protection)

Please vote on June 25th/Notice of Petition & Juneteenth

NOTE: All StonehamBank offices will be closed on Friday, June 19th in observance of Juneteenth. Our ATMs, Online and Mobile Banking will be available for your convenience.

The Bank will be conducting a Special Meeting of Depositors for the purpose of reorganizing from a Mutual Co-operative Bank to a Mutual Holding Company structure.The meeting will be held on: Thursday, June 25, 2026 at 8:30am at the Marriott Courtyard Unicorn Park 700 Unicorn Park Drive Woburn, MA 0180. The polls will remain open until 5:30pm. READ MORE

StonehamBank has filed a petition with the Commonwealth of Massachusetts Division of Banks seeking approval to reorganize the Bank into a mutual holding company structure. LEARN MORE

We're excited to announce our new branch opening at 25 Main Street - North Reading.
READ ANNOUNCEMENT

The Cash Reserve Line of Credit is for the uncommon instances when your account may be overdrawn. While the best way to minimize the possibility of an overdraft is to actively monitor your StonehamBank account to ensure you have sufficient funds, this line of credit can help provide the protection you may need.¹

Rate

18.00% APR²
The interest will be charged from the transaction date.

Account Terms

Revolving
The minimum payment will equal the amount of earned fees and charges, and the greater of the following:
1. $25.00 or 5% of the Loan Account Balance on the last day of the Billing Cycle, for the last Billing Cycle in which an advance was made.
2. Minimum payment is automatically withdrawn from the related checking account.

Account Parameters & Fees

Loan amount: Up to $2,500.00, subject to credit approval
Annual fee of $30.00 due annually³
Returned Payment Charge: $30.00
Automatic advance increments of $1.00 to cover the required amount
Must have a consumer checking account; all account owners must apply
Accounts for minors do not qualify

1 For the transaction to be covered and to avoid an insufficient funds charge, the Cash Reserve Line of Credit must have a sufficient balance to cover the overdrawn amount.

2 The annual percentage rate (APR) is what credit costs a borrower each year, expressed as a percentage of the loan amount.

3 Waived with an active Optimum Plus checking account. An active checking account is defined as having an average daily balance of $10,000 or a combined average deposit balances of $25,000.

Consumer loan rates effective 11/21/2024.