We offer a variety of investment accounts to choose from. We would be happy to help you select the accounts best suited to your situation. Or, take a minute and review our great options.
Our Personal Investment Options
Money Market Accounts
We offer two investment accounts that feature tiered interest rates and limited check writing privileges.
Money Market Account
The Money Market account is perfect for those who are just starting to build a savings plan and want some added flexibility.
Benefits
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Limited check access on your investment funds. |
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Tiered interest so you earn more as your balance grows. |
Features
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Minimum to open: $100. |
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You may make six (6) transfers or withdrawals from your account each statement cycle. |
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ATM/VISA® Check Card |
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Manage your account with our Online Banking service |
Fees
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$5.00 monthly service fee (waived if $500 minimum daily balance is maintained). |
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A $1.00 excess withdrawal fee may apply. |
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Local sales tax may apply to any fees. |
Interest Information
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Interest rates are tiered based on the daily balance. |
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Interest is calculated using the daily balance method and is compounded monthly. |
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The interest rate and annual percentage yield (APY) are subject to change at any time without notice. |
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Fees could reduce the earnings on the account. |
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Money Market
Daily Balance |
Interest Rate * |
Annual Percentage Yield * |
| Below $499.99 |
.00% |
.00% |
| $500 to $2,499.99 |
.00% |
.00% |
| $2,500 to $9,999.99 |
.05% |
.05% |
| $10,000 to $24,999.99 |
.10% |
.10% |
| $25,000 or more |
.15% |
.15% |
|
Preference Money Market
The Preference Money Market account benefits investors with higher accumulated savings, and is generally recommended if you keep $25,000 or more in your account on a regular basis.
Benefits
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Limited check access on your investment funds. |
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Tiered interest so you earn more as your balance grows. |
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The opportunity to earn a higher annual percentage yield on balances of more than $25,000. |
Features
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Minimum deposit to open: $100. |
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You may make six (6) transfers or withdrawals from your account each statement cycle. |
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ATM/VISA® Check Card |
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Can access your account with Online Banking service. |
Fees
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$5.00 monthly service fee (waived if $500 minimum daily balance maintained). |
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A $1.00 excess withdrawal fee may apply. |
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Local sales tax may apply to any fees. |
Interest Information
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Interest rates are tiered based on the daily balance. |
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Interest is calculated using the daily balance method and is compounded monthly. |
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The interest rate and annual percentage yield (APY) are subject to change at any time without notice. |
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Fees could reduce the earnings on the account. |
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Preference Money Market
Daily Balance |
Interest Rate * |
Annual Percentage Yield * |
| Below $10,000.00 |
.00% |
.00% |
| $10,000 to $24,999.99 |
.05% |
.05% |
| $25,000 to $49,999.99 |
.10% |
.10% |
| $50,000 to $99,999.99 |
.15% |
.15% |
| $100,000 to $499,999 |
.20% |
.20% |
| $500,000 or more |
.25% |
.25% |
|
Fixed-rate Certificates of Deposit (CD)
If you are able to commit funds for a specified period of time, you can enjoy insured savings, up to FDIC limits, at attractive rates.
Regular Fixed-rate CD:
Benefits
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Earn a higher rate of interest than is available on savings accounts. |
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Pick your term to match your investment goals. |
Features
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Minimum deposit to open: $2,000. |
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Terms are available from seven days to five years. |
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Early withdrawal penalties may apply if funds are withdrawn prior to maturity; fees may reduce earnings on the account. |
Fees
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There are no account or set up fees; early withdrawal penalties may apply, which may be subject to local sales tax. |
Interest Information
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The daily balance method is used to calculate interest. |
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For terms over one year, interest is compounded and credited annually (on December 31st) and at maturity; for terms less than one year, interest is compounded and credited at maturity. |
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The interest rate/annual percentage yield (APY) in effect at the time the CD is opened is guaranteed through the maturity date. |
Regular Fixed-rate CD Terms
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Fixed-rate CD
Terms |
Interest Rate * |
Annual Percentage Yield * |
| 7 to 31 Days |
.05% |
.05% |
| 32 to 59 Days |
.05% |
.05% |
| 60 to 89 Days |
.05% |
.05% |
| 90 to 179 Days |
.10% |
.10% |
| 180 to 269 Days |
.15% |
.15% |
| 270 to 364 Days |
.20% |
.20% |
| 1 Year |
.30% |
.30% |
| 1.5 Years |
.35% |
.35% |
| 2 Years |
.55% |
.55% |
| 3 Years |
.55% |
.55% |
| 4 Years |
.60% |
.60% |
| 5 Years |
.70% |
.70% |
|
Gold Minor Educational CD
This CD is our most popular vehicle for investing Education Savings Account funds. It is a flexible, high-yielding, fixed-rate investment account, specially designed for education savings.
Benefits
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Gives you a way to easily save for your child’s education. |
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Ability to continue to make deposits, while earning CD rates. |
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Earn a higher rate of interest than is available on savings accounts. |
Features
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Child must be under 18 years of age at account opening; can continue to make deposits and withdrawals after age 18, but eligibility for this account ends at 23rd birthday. |
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Minimum to open: $500. |
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Unlimited additional deposits can be made at any time, and in any increment, up to age 23. |
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Early withdrawal penalties may apply if funds are withdrawn prior to maturity; penalty may be waived if funds used for educational purposes; fees could reduce the earnings on the account. |
Fees
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There are no account or set up fees, but there may be a penalty for early withdrawal penalty. |
Interest Information
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The interest rate/annual percentage yield (APY) in effect at the time the CD is opened is guaranteed through the maturity date. |
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Interest is calculated using the daily balance method. |
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Interest is compounded and credited semi-annually (on June 30 and December 31) and at maturity. |
Gold Minor CD Terms
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Gold Minor CD
Terms |
Interest Rate * |
Annual Percentage Yield * |
| One Year |
.55% |
.55% |
|
Special-rate CDs
From time to time, we offer Special-rate CDs. These CDs may have different opening deposit amounts and terms, and they are usually only available for a limited time. Check on our web site under “What’s New,” or ask our new accounts staff about current special offers.
Jumbo CDs
If you have more than $100,000 to invest, please contact us about a Jumbo CD. Depending on the amount of the CD and the term, we may be able to negotiate a special rate.
Certificate of Deposit Account Registry Service (CDARS)
CDARS® is the Certificate of Deposit Account Registry Service®, a service that allows individuals, businesses, government agencies and non-profits to access multi-million-dollar FDIC coverage on their CD investments.
Using CDARS, everything is handled through Alaska Pacific Bank, a bank you know and trust. We place your large deposit into CDs issued by other banks in the CDARS Network in amounts less than the standard FDIC insurance maximum, so that both principal and interest are eligible for full FDIC protection.
Enjoy these benefits with the CDARS service:
- FDIC Insurance - access multi-million-dollar FDIC insurance on CD deposits
- Convenience - Work directly with just one bank
- CD Interest Rates - you agree to an interest rate and CD term with us.
- Variety of Maturities - you may select terms ranging from four (4) weeks to five (5) years
- One Statement - You receive one regular statement detailing your CD investments.
- Security of working with your local bank - When you make a deposit through CDARS you deal directly with us, your local community bank.
Variable-rate Certificate of Deposit (CD)
Benefits
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Ability to make additional deposits and earn CD rates. |
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Earn a higher rate of interest than is available on savings accounts. |
Features
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Minimum deposit to open: $2,000. |
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Terms available: one year and 2 ½ years. |
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Unlimited additional deposits may be made at anytime, in any increment. |
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Early withdrawal penalties may apply if funds are withdrawn prior to maturity, which may reduce earnings on the account. |
Fees
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There are no account or set up fees; early withdrawal penalties may apply, which may be subject to local sales tax. |
Interest Information
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Interest is calculated using the daily balance method. |
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Interest is compounded and credited semi-annually (at June 30 and December 31) and at maturity. |
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The interest rate and annual percentage yield (APY) are subject to change at any time without notice. |
Variable-rate CD Terms
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Variable-rate CD
Terms |
Interest Rate * |
Annual Percentage Yield * |
| 1 Yr. Variable Rate |
.05% |
.05% |
| 2.5 Yr. Variable Rate |
.30% |
.30% |
|
Individual Retirement Accounts
Individual Retirement Accounts (IRAs)
It's never too late to start investing in your retirement, but the sooner you start, the better. An Alaska Pacific IRA is a great way to plan for a financially-secure retirement.
Overall IRA Information
• We offer both Traditional and Roth IRA plans.
• You can choose to fund either type of IRA plan with any of our Fixed- or Variable-rate Certificates of Deposit, or a Regular Savings account.
• Our IRAs offer the additional security of a federally-insured investment.
• Minimum opening deposit: $100 if you put funds in a Regular Savings and $2,000 if funds are invested in a CD.
• Catch-up contributions are allowable for many IRA holders who are over 50.
• You must have earned income (from employment) to contribute to an IRA.
• We never charge any setup fees or annual maintenance fees.
• If you invest your IRA in a CD, early withdrawal penalties may apply.
• Contributions and distributions are subject to IRS rules. IRS penalties may apply if you make distributions earlier than federal regulations allow.
• Consult your tax advisor to determine which IRA is best for you.
Maximum Contribution Limits
The maximum amount that can be contributed to an IRA is based upon the tax year.
| Tax Year |
Traditional & Roth IRAs |
Additional Catch-up Contributions
(Age 50+ Years) |
| 2013 |
$5,500/individual |
$1,000 |
Interest Information
Interest is based on the type of account you choose to invest your IRA in—a Fixed- or Variable-rate Certificates of Deposit, or a Regular Savings account. For more information, review our CD and savings account options.
Online Retirement Calculators
We offer a variety of calculators to help you better plan for your retirement. Check out our Retirement Calculators.
Questions?
We understand that you may have questions, and we would be happy to help. Please call or stop by and talk to a Customer Service Representative.
* Rates quoted are effective as of 05/21/13. Posted interest rates and Annual Percentage Yields are subject to change at any time without notice.
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