Optimum Student Savings Account

Important Notice for Stoneham Branch

Our Stoneham Branch continues to be impacted by the ongoing culvert construction project on Montvale Ave. Access to the branch remains open during this construction period. To ensure you stay up to date on any changes or developments, we encourage you to check for the latest update here. We apologize for any inconvenience this construction project may cause and appreciate your understanding and patience. If you have any questions, please feel free to reach out to our Customer Contact Center at 888.402.2265.

Optimum Student Savings¹ Features

No monthly maintenance fee
No monthly minimum balance requirement
Receive a monthly statement
Interest paid at the end of each month
$10 minimum balance to open and earn Annual Percentage Yield (APY)
Link to an Optimum Student Checking account and receive $10². Optimum Student Checking and Savings accounts are a banking package that helps you earn more and grow your money!
Can be linked to your Visa® Debit Card (requires a checking account) with access to 55,000+ surcharge-free Allpoint network ATMs and SUM network ATMs
Access your money at any time³

¹ Primary account holder must be 22 years of age or younger but not younger than the age of 13. Upon the primary account holder reaching the age of 23, the account will convert to a statement only Optimum Savings Account with all terms and conditions in effect at the time.

²Limit of $10.00 credit per account. The $10.00 credit to the account will be processed to Optimum Student Savings account in good standing after 30 days of account opening and will be reported on 1099-INT.

³ Transaction Limitations: You will be permitted to make no more than 6 combined pre-authorized, automatic, check or telephone transfers per statement cycle from your Savings account to another account or third party. If you exceed these restrictions, we may assess an excess fee.

^* No purchase or payment of any kind is necessary to enter to win this contest. A purchase will not improve your chances of winning. Sweepstakes (the “enter to win”) is only open to legal residents of the U.S. and the District of Columbia and is void where prohibited by law. Entrants must be between 13 and 22 years of age. Employees of StonehamBank (the “Sponsor”) and their respective affiliates, subsidiaries, advertising and promotion agencies, suppliers and their immediate family members and/or those living in the same household of each are not eligible to participate in the Sweepstakes. The Sweepstakes is subject to all applicable federal, state and local laws and regulations. The sponsor’s address is 80 Montvale Avenue, Stoneham, MA 02180. All entries must be received by 11:59PM on October 20, 2023. Winner of the Sweepstakes will be selected in a random drawing under the supervision of StonehamBank. The winner will be selected on October 25, 2023. The winner will be notified via email to the email address on record within five (5) days following the winner selection. The odds of winning are determined by the number of entries. StonehamBank shall have no liability for a winner’s failure to receive notices due to winner’s spam, junk e-mail or other security settings or for winner’s provision of incorrect or otherwise non-functioning contact information. If the selected winner cannot be contacted, is ineligible, or fails to claim the prize within 15 days from the time the award notification was sent, the prize may be forfeited, and an alternate winner selected. The retail value of the Virtual Reality Headset is $349.00. The winner is solely responsible for any federal, state and local taxes. A form 1099 MISC will be issued to the winner. Brands mentioned are not sponsors or participants in this promotion.