Classic Checking
Classic Checking is the perfect fit if you are looking for a checking account with a low minimum deposit.
Expect the conveniences without the hassles.
- Free Online Banking and budgeting tools
- Free Mobile Banking
- Debit card with merchandise & travel reward point perks and fuel savings: ScoreCard Rewards
- Free ATM withdrawals at over 32,000 MoneyPass® Network ATM’s
Simply open Classic Checking with a $100 minimum initial deposit or more. There is a $2 monthly printed statement fee that is waived for accounts that elect to receive eStatements exclusively.
Classic Plus Checking
Get all the benefits that you get with Classic Checking, including Reward Points* for merchandise & travel, plus earn interest** if the account balance is greater than $1,000 during the statement cycle. Ask us about the current rates.
Classic Plus Checking requires a minimum opening deposit of $100. The $8 monthly maintenance fee is waived if the ledger balance is greater than $1,000 or more during the statement cycle.
- Gold Benefit Level
- Earns bonus interest** of +.05% on CDs & MMA
- Requirements to earn (statement cycle) bonus rate
1) average ledger monthly Classic Plus Checking account balance of $10,000 or
2) average ledger combined monthly Bank of Labor account balance of $50,000 AND
3) 1 ACH Direct Deposit during statement cycle AND
4) 1 Debit card transaction processed during statement cycle
- Requirements to earn (statement cycle) bonus rate
- Earns bonus interest** of +.05% on CDs & MMA
- Platinum Benefit Level
- Earns bonus interest** of +.10% on CDs & MMA
- Requirements to earn (statement cycle) bonus rate
1) average ledger monthly Classic Plus Checking account balance of $20,000 or
2) average ledger combined monthly Bank of Labor account balance of $100,000 AND
3) 1 ACH Direct Deposit during statement cycle AND
4) 1 Debit card transaction processed during statement cycle
- Requirements to earn (statement cycle) bonus rate
- Earns bonus interest** of +.10% on CDs & MMA
**Interest rates subject to change
Personal Savings
This savings account earns a competitive interest rate to help get you started saving while adding a convenient way to protect your checking account against overdraft fees when the accounts are linked. Although you avoid overdraft fees, there will be a fee to cover money transferred from your savings account to your checking account.
Get started with a minimum of $100 to open the account and maintain a minimum daily balance of $100 each month.
Account Benefits
- Three withdrawals per month with no fees
- Interest is accrued daily and credited monthly
- 24/7 access to your account with Online Banking and Telelink
Copper Club Savings
This is designed to help children and youth, under 18, start saving. Parents and guardians can open this account and make deposits, or let children and youth make the deposits.
Just start saving with a low minimum opening deposit of $25.
Account Benefits
- Three free withdrawals per month
- $5 monthly maintenance fee waived with a $25 monthly average daily balance
- 24/7 access to your accounts with Online Banking and TeleLink
Holiday Savings
Plan for holiday spending by making deposits throughout the year to help you avoid post-holiday debt while earning interest.
Terms
- Limited to one withdrawal each year
- Account is closed on October 31 of every year
- Check provided in November for the deposit(s) and interest earned
- $10 minimum opening deposit
- Online Banking and TeleLink access
Bank of Labor Visa® Debit Card
Bank of Labor’s Visa® Debit Card offers purchase options like a credit card, but it is funded from your Bank of Labor checking account.
Advantages
- ATM Access
- Free withdrawals at more than 32,000 MoneyPass® ATMs
- Find an ATM here: www.moneypass.com/atm-locator.html
- Free withdrawals at more than 32,000 MoneyPass® ATMs
- Earn points with purchases made with your signature– enroll or find out more at scorecardrewards.com/
Bank of Labor MasterCard® Credit Card
The Bank of Labor MasterCard® goes above and beyond with its rewards, advanced security features and management features.
Management
www.gotomycard.com/bankoflabor
- Check balances, transactions and statements
- Make payments and transfer balances
- Set text alerts and reminders and interactive texting to view balances, transactions and more
Rewards
Dreampoints.com/bankoflabor or call 866.678.5189
- Earn rewards: earn 1 point for every $1 in credit card purchases or shop at Perk Point Mall on the rewards site and get 2 points for every $1 spent
- Merchandise: choose from over 300,000 products
- Gift cards: $25, $50 and $100 options with 100+ retail partners
- Travel: get airfare, cruises, hotel rooms and more
- Experiences: fit your lifestyle from golf to sailing and beyond
- Green products: find merchandise that is eco-friendly
- Charitable donations: choose from over 100 major charities to give your earned rewards to a cause
- Cash back points: credit account in $100 increments
- Prepaid cards: use to provide flexibility to redeem virtually everywhere
*Subject to credit approval.
Report Lost or Stolen Card
For lost/stolen Bank of Labor MasterCard® Credit Card, call 1.800.423.7503.
For lost/stolen Bank of Labor Visa® Debit/ATM cards, call 1.888.722.1324.
Overdraft Protection
We all make mistakes sometimes. When it happens to you, Bank of Labor has your back with overdraft protection. We offer two options to assist you in managing your account and avoiding overdrafts.
Automatic Transfer Program – Fees Apply.
If you maintain another checking account or a savings account you may establish an automatic transfer link from that account to cover any overdrafts you may incur in your checking account, assuming you have sufficient funds available in the other account.
Program requirements:
- You must be the owner and signer on both accounts in the transfer relationship
- You must sign a form with one of our bankers, providing the account numbers and exact or incremental amounts for transfers
Overdraft Privilege
Overdraft Privilege is a discretionary service available to qualified checking accounts. With Overdraft Privilege, Bank of Labor may pay items overdrawing qualified accounts up to a predetermined amount for eligible Personal Checking accounts and Personal NOW accounts.
Overdraft Privilege fees may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means. This service is not intended for casual or everyday use, but only for protection against inadvertent record-keeping errors or occasional timing issues related to deposits.
Program requirements:
- You must fill out and sign an application form. We will review your account and notify you within 30 days if you are approved.
- To qualify, accounts must be open for a minimum of 30 days, have a positive balance, and meet certain minimum deposit requirements.
- Customers must not be in default of any loan obligation to Bank of Labor, or be subject to legal or administrative levy.
- Bank of Labor reserves the right to limit the number of accounts eligible for Overdraft Privilege.
- Overdraft Privilege will not be active until you receive notification from Bank of Labor that you are enrolled.
A fee of $30 is charged for each overdraft created by check, in-person withdrawal, ATM withdrawal, or other electronic means (each debit or check paid). We do not assess overdraft or NSF fees when paying an overdraft item that result in an overdrawn account balance of $10 or less. The maximum amount of Overdraft or NSF fees we assess each day is $90. Bank of Labor has the choice to either pay the overdraft or not. Bank of Labor reserves the right to require repayment of any overdraft on demand.
Online Banking
Bank of Labor offers powerful online banking that gives you lots of controls and access to your checking accounts, loans and CD balances. Our software also allows you to pay bills, export history to track as needed, and make transfers in a snap.
Plus, we have Account Aggregation so you can see all your accounts in one place – even those accounts with other banks.
Manage your money with My Finances tool. Track your income, your spending, build a budget, find ways to save to reach your goals, track your home value and more.
Mobile Banking
Mobile Banking is the ultimate on-demand service to manage your accounts right from your mobile phone even without Internet access.
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- Send a text message to get account information (message and data rates may apply).
- View through the Bank of Labor app to also transfer funds between accounts and pay bills.
- Pay Bills
- Mobile Check Deposit
- Customizable Account Alerts
- Enroll now – simply log on to Online Banking and select Mobile Banking to sign up or enroll via the Bank of Labor App.
TeleLink Phone Banking
Telelink offers a convenient and easy way to access your account over the phone. Simply dial the phone number below and you will have the ability to make payments and transfers or just check your balances.
• Call anytime, 24/7 at 855.522.6722
• Inquire about all your accounts, including loans and CDs
• Check your account balance, last deposit, make loan payments and more
Personal Money Market Account
With this account, you have the opportunity to earn competitive interest rates and the flexibility to write checks. If you want to keep a balance of at least $1,000 and earn interest, but retain easy access to your funds, this is the account for you.
Account Benefits:
- Competitive, variable interest rates
- Higher interest paid on higher balances
- Interest accrued daily and credited monthly
- Up to six free transfers per statement cycle
- Imaged checks available ($3 per month)
- $10 monthly maintenance fee waived with $1,000 minimum daily balance
- 24/7 access to your account with Online/Mobile Banking and Telelink
Minimum Requirements
- $1,000 minimum opening deposit
Sterling Money Market Account
Our Sterling Money Market account is designed for high balances starting at $100,000. This elite savings account offers money market flexibility with CD-like rates.
Account Benefits
- Annual percentage yield increases with higher balances
- Interest is accrued daily and credited monthly
- Detailed monthly statements
- Up to six free transfers per statement cycle
- Imaged checks available ($3 per month)
- $15 monthly maintenance fee (waived with $100,000 minimum daily balance)
- 24/7 access to your account with Online/Mobile Banking and Telelink
Minimum Requirements
- $100,000 minimum opening deposit
Regular Certificate of Deposit
Bank of Labor’s Regular Term CD lets you save for a specific time period, and can be opened for as little as $1,000. Your fixed rate is based on the term of the certificate and will be locked in for the term of the account.
Account Benefits
- Competitive interest rates compounded quarterly
- Flexible terms from 90 days to 60 months
- Safe investment option
Minimum Requirements
- $1,000 minimum opening deposit
Bump Certificate of Deposit
Our Bump CD account offers an extra element of flexibility. With this account, you may take advantage of higher returns when interest rates rise while you are stuck in the middle of a lower term rate.
Minimum Requirements
- $1,000 minimum opening deposit
Traditional IRA
With a Traditional IRA account, funds contributed grow tax-deferred and may be tax-deductible. The money you deposit into this account isn’t taxed until you withdraw it. If you take money out of this account before age 59 ½, you will have to pay a penalty in most cases.
Available to persons under age 70 ½ with earned income or to non-working spouses. For maximum annual contribution and tax-deductibility please seek advice from your tax consultant.
Minimum opening contributions, early withdrawal penalty or compensating fees may apply.
Roth IRA
With a Roth IRA account, the funds that you contribute are not tax-deductible; however, any money you withdraw from the account (including earnings) will not be taxed.
Available to persons with earned income or to non-working spouses regardless of age, subject to income limitations. For maximum annual contribution please seek advice from your tax consultant.
Minimum opening contributions, early withdrawal penalty may apply.
Rollover IRA
If you have an existing IRA from another institution or employer pension/retirement fund, you can use these funds to reinvest in a Bank of Labor IRA within 60 days.
Home Equity Line of Credit
Home Equity Line of Credit (HELOC) loans through Bank of Labor are a great way to fund big ticket items like remodeling, repairing your home, consolidating debt, getting a new car and more. There are lots of positives to using a HELOC loan since borrowing against the equity in your house qualifies for lower interest rates than credit cards and many other forms of credit—plus offers flexible payment terms. Put your equity to work for you.
HELOC features include:
- 10-year term
- Minimum $10,000 loan amount
- No prepayment penalties
- No application fees | No closing costs | No annual fees
- 24-hour access online
- Payment options: In person | By mail | Auto-payment
- Loan up to 80% of property value
- Checks available upon request
The HELOC advantages include:
- Easy application process
- Detailed monthly statement
- Minimum payment—interest only
- HELOC loans may be tax deductible—talk to your tax advisor
- We handle appraisal logistics. Access to your home is not needed.
Get the funds you need to get things done! Contact us today to see if a HELOC is right for you.
Auto and Vehicle Loans
Bank of Labor can help you navigate financing on new or used automobiles, boats and all types of recreational vehicles. We’ll do whatever it takes to find the right auto loan and get you behind the wheel of the vehicle you’re eyeing.
Competitive interest rates and flexible terms
Easy application process with fast, local decisions
NMLS Registry
| 1124630 | Buche | Mary |
| 1433828 | DeBruin | Steven |
| 542490 | Dinges | Deena |
| 1949558 | Dominguez | Linda |
| 526343 | Freeman | Millie |
| 526341 | Johnson | Matthew |
| 1114956 | Kamphaus | John |
| 492453 | Kimmel | Randy |
| 1054937 | Lee | Mai |
| 1060729 | Perales | Piia |
| 2040000 | Perez | Miguel |
| 2040001 | Ryan | Tyler |
| 776896 | Schoonover | Joseph |