Develop Your Savings Strategy with the Right Account
No matter your age, having the right savings account is critical to allowing you to execute your savings strategy. At The Bank of New Glarus, we offer traditional savings accounts, as well as Money Market accounts that feature tiered interest rates based on your account balance. We even have an account to teach your child the value of saving smartly. If you’re interested in opening a savings account, click the button below to complete our online application. If you have any questions about our savings accounts, please contact your local office.
Compare Our Savings Account Options
Choose this account if... | Minimum balance to avoid monthly fee | Does this account earn interest? | Account service fees | Special features | How to Apply | |
|---|---|---|---|---|---|---|
Select Savings | You want a traditional savings account focused on simplicity. | $100.00 | Yes | $2.00 (waived if minimum monthly balance of $100.00 is maintained) | Service charge waived for account holders under the age of 18 Free online banking and eStatements Unlimited deposits
| |
Money Market | You want an account that rewards you for maintaining a higher balance with tiered interest rates. | $1,000.00 | Yes | $10.00 (waived if minimum monthly balance of $1,000.00 is maintained) | Free online banking and eStatements Unlimited deposits | |
Kids Club Savings* | You want to teach your child under the age of 12 the value of savings. | $0 | Yes | None | Kids receive a savings passport and piggy bank when they open an account Kids receive a stamp for every deposit over $10.00 to be used for prizes Children are encouraged to keep a register of their deposits and write them down to track deposits and withdrawals |
*Children 12 and under are eligible to participate in our Kids Club Account. Account restrictions for minors still apply to all children up to age 18.
Upon sign-up for Kids Club, child will receive a piggy bank and a savings passport, which will be stamped for each deposit made over $10.00. Additionally, Kids Club members will be eligible to choose a prize valued at $3.00 or less with each deposit of $10.00 or more.
Each Kids Club member is allowed one stamp per day.
In order to receive stamps, child must be present and must have their savings passport. New passports can be reissued to replace lost, stolen, or otherwise missing savings passports. All new savings passports start from the beginning, we will not replace “stamps” or entries for lost savings passports.
Child account owner must be present to earn a stamp, that is, the parent or guardian cannot make the deposit without the child’s presence.
After 10 deposits/stamps, Kids Club members are eligible to choose a prize (such as their very own Kash the Cow stuffed animal, and other larger prizes such as baseball caps, blankets, lunch bags, etc., valued at $10.00 or less). Prizes and availability are subject to change.
Savings Account Rates
Annual Percentage Yield* is accurate as of March 3, 2025
Product | Interest Rate | APY* | Min to Open | Min to Earn APY* |
|---|---|---|---|---|
Select Savings1,7 | 0.10% | 0.10% | $0.01 | $0.01 |
Money Market1,2,8 | 0.10% | 0.10% | $0.01 | $0.01 |
Money Market1,2,8 | 0.10% | 0.10% | $0.01 | $5,000.00 |
Money Market1,2,8 | 0.15% | 0.15% | $0.01 | $10,000.00 |
Money Market1,2,8 | 0.40% | 0.40% | $0.01 | $25,000.00 |
Money Market1,2,8 | 1.00% | 1.00% | $0.01 | $100,000.00 |
Money Market1,2,8 | 3.93% | 4.00% | $0.01 | $250,000.00 |
Platinum Money Market1,2,8 | 0.15% | 0.15% | $0.01 | $0.01 |
Platinum Money Market1,2,8 | 0.50% | 0.50% | $0.01 | $25,000.00 |
Platinum Money Market1,2,8 | 0.75% | 0.75% | $0.01 | $50,000.00 |
Platinum Money Market1,2,8 | 1.00% | 1.00% | $0.01 | $100,000.00 |
Platinum Money Market1,2,8 | 3.93% | 4.00% | $0.01 | $250,000.00 |
For additional account disclosure information and related fees see a Personal Banker. Fees may reduce the earnings on the above accounts.
1 The rate may change after the account is opened.
2 Interest on the tiered account is paid on the entire collected balance of your account at the rate shown for that tier.
3 Online Banking required.
4 Electronic statement required.
5 Have at least 16 Debit Card purchases post and clear during each statement cycle (not including ATM transactions). Have at least one Direct Deposit /ACH Credit post during each statement cycle. Log into Online Banking at least one time during each statement cycle.
6 There will be a 0.05% Interest Rate applied to all balances if statement cycle qualifications are not met, resulting in a 0.05% Annual Percentage Yield.
7 A monthly fee of $2.00 will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the statement cycle.
8 Maintain a $1,000.00 minimum balance to avoid the $10.00 monthly fee.
9 If the above terms are not met, the account will be changed to a Basic Plus Checking Account, which has a monthly fee of $3.00 imposed every statement cycle if the balance in the account falls below $1000.00 any day of the statement cycle.
10 An Interest Rate of 0.05% will be applied to the portion of your account balance over $25,000.00, resulting in a 0.54% to 4.00% APY, depending on the balance.