Savings Accounts

Each member of Bragg Mutual has a Master Savings Account. By opening this account, you establish your membership and become a member-owner of Bragg Mutual. Your membership allows access to the many benefits that Bragg Mutual offers.

Account Terms

  • Minimum initial deposit of $20.00 required to establish membership*
  • $300.00 minimum balance required to earn dividends
  • Compounds quarterly

*Initial deposit includes a one-time, non-refundable membership fee of $15.00 and a $5.00 par to keep the Master Savings Account open.

NOTE: A membership without activity (transactions) for a period of six months, shall be subject to a dormant account fee.

Your membership gives you access to a wealth of financial benefits. Your Master Savings Account earns a quarterly dividend based on the average daily balance in your account and can be used as collateral for a Share-Secured Loan. Easily access your funds through It's Me 247 Online Banking or by calling telephone banking at 1 (800) 771-0624.

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Our Money Market Account allows for flexible access while earning higher dividends than our savings account. Multiple tiers allow you to earn higher dividends as you deposit funds into your Money Market Account.

Money Market Account Terms

  • Minimum initial deposit of $2,500.00 required to open account
  • Minimum balance of $2,500.00 required to earn dividends1
  • Compounds monthly
  • Click on 'View Rates' to see our current rates

Perks Money Market Account Terms

  • Minimum initial deposit of $50,000.00 required to open account
  • Minimum balance of $50,000.00 required to earn dividends2
  • Active Perks or Perks Plus account required for Perks Money Market account
  • Compounds monthly
  • Click on 'View Rates' to see our current rates

1 If the balance falls below $2,500.00, dividends will be based upon the current Savings Account rate. Click on 'View Rates' to see our current rates.

2 If the balance falls below $50.000.00, dividends will be based upon the current Savings Account rate. Click on 'View Rates' to see our current rates.

Features & Benefits

  • Competitive dividends; higher balances earn higher dividends
  • A wide range of terms to accommodate a specific savings goal
  • Unlimited withdrawals in-person or via telephone banking
  • Six free transactions per month
  • No monthly service fees
  • 24/7 account access via Online Banking (or dial (833) 771-0624 for telephone banking)
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With a Holiday or Vacation Club Account, you can plan ahead by setting aside a small amount of money each week or pay period and earning dividends on it throughout the year. This means you'll be ready to have fun without surprise costs when the time comes!

Account Terms

Holiday Club

  • Minimum initial deposit of $10.00 required to open account
  • Minimum balance of $100.00 required to earn dividends
  • Compounds Quarterly
  • One withdrawal required per year
  • Click on 'View Rates' to see our current rates

Vacation Club

  • Minimum initial deposit of $10.00 required to open account
  • Minimum balance of $100.00 required to earn dividends
  • Compounds Quarterly
  • One withdrawal allowed per month
  • One withdrawal required per year
  • Click on 'View Rates' to see our current rates

Features & Benefits

  • Competitive interest rates on the entire balance of your account
  • No monthly service fee or minimum balance
  • Unlimited deposits
  • Schedule regular automatic transfers for convenience
  • 24/7 account access via Online Banking (or dial (833) 771-0624 for telephone banking)
NOTE ABOUT HOLIDAY CLUB ACCOUNTS:
The Holiday Club Account will be closed on the 4th Wednesday in November. Funds will be deposited into the member's Checking Account on the following Friday. If the member does not have a Checking Account, the funds will be deposited into the Master Savings Account.
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Our Share Certificates pay a higher dividend in return for your commitment to keep the funds on deposit for a specified fixed term. The longer you leave your funds untouched, the higher the dividends.

Account Terms

  • Minimum deposit of $500.001 required to open a share certificate
  • Once account has been opened, additional funds may not be added to certificate
  • Subject to early withdrawal2
  • Automatically renews at maturity with a 10-day grace period to withdraw funds without early withdrawal penalty
  • Compounds Monthly

1 Applies to 6-month Certificates.
2 The penalty for early withdrawal for a certificate that is 12 months or less will be the amount equal to one month of dividends earned. For maturities of 12 months or more, you will forfeit an amount equal to three months of dividends earned, at the nonimal rate (simple interest) being paid.

Features & Benefits

  • Longer terms equal higher rates
  • Flexible terms ranging from six months to five years
  • No setup or maintenance fees
  • Early withdrawal subject to penalty
  • 24/7 account access visa Online Banking (or dial (833) 771-0624 for telephone banking)

*All Deposit Account & Share Certificate rates are effective as of 1/2/2024. Interest rates and APYs are fixed for the term of the certificate. Rates, minimum deposit requirements and maturity dates for new accounts are subject to change daily at the discretion of the Board of Directors. Fees, penalties imposed for early withdrawal, or other conditions may reduce earnings on the account.

1 Active Checking or Money Market account required to earn dividend rate.

2 No Active Checking or Money Market account required to earn dividend rate.

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It's never too early to start saving for retirement. Whether you are a full-time employee or working part-time, an Individual Retirement Account (IRA) is a great way to prepare for the future!

Account Terms

  • Minimum deposit of $10.00 required to open an IRA
  • Minimum balance of $300.00 required to earn dividends
  • No restrictions or charges applied to IRA*
  • Compounds Quarterly

* Other than those imposed by the Internal Revenue Service.

Click here for 1099-INT Instructions for Recipient

Features & Benefits

  • Traditional IRA Share Account
    • Contribute and deduct the contribution from your gross income at the end of the tax year
    • Funds are taxed deferred until you make withdrawals or distributions
  • Roth IRA
    • Allows you to contribute non tax-deductible funds for higher income levels
    • Allows you to withdraw tax-free if the funds have been on deposit for five years and (a) you are over age 59½ or (b) you become disabled, or (c) you use the money for a first-time home purchase. Restrictions Apply
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