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High Yield. Made Simple.

3.65% APY*

^{balances up to $100,000}
^{balances over $100,000 earn 3.65%-0.05% APY*}

Earn a rate over 3X higher than the national average¹and enjoy the convenience of banking locally.

Open a High Yield Savings (only $10)
Have a St. Mary's Bank checking account (only $10 to open)
Set up $1,500 in monthly direct deposits*

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High Yield Savings

APY*

3.65%

Get the best savings rate

Open Your Account

Rate information is current as of: September 4, 2026.

*Annual Percentage Yield (APY) accurate as of 9/4/26. Deposit rates are variable—rates and terms may change at any time after account opening.
Balances of $0.01 - $100,000.00 earn 3.65% APY
Balances of $100,000.01 and over earn 3.65%-0.05% APY. Qualification requirements to open account and earn stated APY: open a St. Mary’s Bank High Yield Savings account with a minimum of $10. Maintain an existing or open a St. Mary’s Bank checking account (minimum $10 to open) and add qualifying recurring direct deposit totaling at least $1,500 during each monthly statement cycle. After opening a High Yield Savings account, you will have up to two statement cycles to establish a St. Mary’s Bank checking account and establish recurring monthly direct deposits to continue earning the stated savings rate. Thereafter, if qualification requirements are not met in any statement cycle, your account balance will automatically earn the base savings rate of 0.05% APY until requirements are met. Limit one High Yield Savings Account per member. Qualifying Direct Deposit: A direct deposit is income that is automatically deposited into a member’s St. Mary’s Bank checking account by an employer, government agency, or other qualifying organization. This can include your paycheck, pension, Social Security, or other eligible benefits. Transfers between your St. Mary’s Bank accounts, and payments received through peer-to-peer or money app services are not considered direct deposits.

A High Yield Savings Account (HYSA) is a savings account that earns a higher interest rate than a traditional savings account, helping your money grow faster while keeping it safe and easy to access. It's a simple way to save more on the money you already have while keeping your funds available when you need them.

At St. Mary's Bank, deposits in your High Yield Savings Account are federally insured by the National Credit Union Administration (NCUA) up to applicable limits, giving you confidence that your savings are protected.

Wondering how much your savings could earn?

Consider This Example...
If you open a High Yield Savings Account with an initial deposit of $500 and add $50 each month for 12 consecutive months, your estimated balance could grow to approximately $1,130.54 based on a 3.65% APY.²

Use our Savings Calculator to estimate how much you can save over time. Enter your starting balance, monthly contributions, and savings timeline to project your growth and stay on track toward your financial goals.

Open A High Yield Savings

High Yield Savings helps you save more on the money you already have while keeping your banking simple. By keeping your checking and savings together at St. Mary's Bank, you'll enjoy the convenience of managing your money in one place while earning a premium savings rate when qualification requirements are met.

Save More

Earn a competitive savings rate designed to help your money grow faster than a traditional savings account.

Keep Banking Simple

Managing money shouldn't mean juggling multiple banks, apps, passwords, and statements. With St. Mary's Bank, you'll enjoy:

One login and one app for everyday banking
Fast and easy transfers between your accounts
Convenient Digital Banking wherever life takes you
Local support when you need it
Get paid up to two days earlier with qualifying direct deposit³

One Premium Rate

No confusing balance tiers or complicated requirements.

Sometimes the simplest way to save more is keeping your money together.

I already have a St. Mary's Bank checking account. Do I need to open a new checking account to qualify for the High Yield Savings premium rate?

No. If you already have a St. Mary's Bank checking account, you do not need to open a new one to qualify for the premium High Yield Savings rate.

To earn the premium rate, simply receive at least $1,500 in qualifying recurring monthly direct deposits into your existing St. Mary's Bank checking account. New High Yield Savings account holders have up to two statement cycles to establish qualifying direct deposits. If qualification requirements are not met after two statement cycles, the account will earn the standard savings rate until requirements are satisfied.

Can you withdraw money from a High Yield Savings account anytime?

Yes. A High Yield Savings account keeps your money available when you need it, making it a good choice for an emergency fund or other short-term savings goals. Some financial institutions may limit certain types of withdrawals or transfers during a statement cycle, so it's always a good idea to review your account terms. Unlike a certificate of deposit (CD), your money isn't locked in for a set period.

How does St. Mary’s Bank High Yield Savings Account rate compare to the national average?

St. Mary’s Bank High Yield Savings Account offers a 3.65% Annual Percentage Rate (accurate as of 9/4/26), which is more than three times the national average savings account rate based on the FDIC’s “National Rate: Savings” series (which includes both banks and credit unions) shows a national average savings rate of 0.38% as of August 2026.

Rates are variable and subject to change.

How many High Yield Savings accounts can you have?

There is no legal limit to the number of High Yield Savings accounts you can open, and you can have accounts at more than one financial institution. Some people choose to open multiple accounts to organize savings for different goals or to spread balances across institutions to stay within the $250,000 federal insurance limit per institution. Individual financial institutions may also have their own limits on the number of accounts you can open.

What is a High Yield Savings account and how is it different from a regular savings account?

A High Yield Savings account works the same way as a regular savings account, but it typically pays a much higher APY. A regular savings account at a large national bank may pay close to the 0.38% national average, or as little as 0.01%, while a high-yield account may pay several times more. Both are federally insured, and both give you access to your money. The biggest difference is how much interest your savings have the potential to earn.

Does opening a High Yield Savings account affect your credit score?

No. Opening a savings account doesn't require a hard credit inquiry, so it won't affect your credit score. Financial institutions typically verify your identity and may review your banking history through a service such as ChexSystems, but this isn't a credit check and doesn't lower your credit score.

Is a High Yield Savings account worth it?

For many savers, the answer is yes. If your money is sitting in a low-rate savings account, moving it to an account earning several times the national average rate of 0.38% APY could help your savings grow faster. On a balance of just a few thousand dollars, that difference can add up to hundreds of dollars over time, without taking on additional risk at a federally insured financial institution. A High Yield Savings account can be especially valuable for money you want to keep accessible, such as an emergency fund or savings for a near-term goal.

Do you pay taxes on High Yield Savings account interest?

Yes. Interest earned on a High Yield Savings account is generally taxable as income in the year it's earned. If you earn $10 or more in interest, your financial institution will provide a Form 1099-INT to help you prepare your tax return. This applies to all interest-bearing savings accounts, not just High Yield Savings accounts.

Can you lose money in a High Yield Savings account?

No, not when your money is deposited at a federally insured financial institution and remains within insurance limits. Deposits at an NCUA-insured credit union or FDIC-insured bank are protected up to $250,000 per owner. Unlike investments, a savings account doesn't lose value when the stock market declines. While inflation can reduce your purchasing power if it rises faster than your APY, your account balance itself does not decrease.

How much interest can you earn on a High Yield Savings account?

The amount of interest you can earn depends on your account's APY and your balance. As of August 2026, with the national average savings rate at 0.38% APY per the FDIC and top high-yield accounts paying several times more, the difference can be meaningful. On a $10,000 balance, a 0.38% account earns about $38 a year, while a 4.00% account earns about $400 a year. Because High Yield Savings rates are variable, your actual earnings will change over time as rates change.

Can I have more than one High Yield Savings account?

No. Members may have one High Yield Savings account per membership.

How much does it cost to open a High Yield Savings account?

Opening a St. Mary's Bank High Yield Savings account is easy and only requires a minimum opening deposit of $10.

To earn the premium savings rate, you'll also need a St. Mary's Bank checking account (also only $10 to open), and at least $1,500 in qualifying recurring monthly direct deposits into your checking account.

I already have a St. Mary's Bank savings account. Can I convert it to a High Yield Savings account?

No. Existing St. Mary's Bank savings accounts cannot be converted to a High Yield Savings account. You'll need to open a new High Yield Savings account.

Can I open any personal St. Mary's Bank checking account to qualify for the High Yield Savings premium rate?

Most St. Mary's Bank personal checking accounts qualify—only exception is a Health Savings Account (HSA).

You'll also need to receive at least $1,500 in qualifying recurring monthly direct deposits into your St. Mary's Bank checking account to earn the premium savings rate.

How do I earn the 3.65% APY* rate on the High Yield Savings account?

In order to earn the 3.65% APY* on the St. Mary's Bank High Yield Savings account follow three simple steps.

Open your High Yield Savings Account for just $10
Already have or open a checking account (only $10 to open)
Set up $1,500 in recurring monthly direct deposits* into your St. Mary's Bank checking account

Qualification requirements to open account and earn stated APY: open a St. Mary’s Bank High Yield Savings account with a minimum of $10. Maintain an existing or open a St. Mary’s Bank checking account (minimum $10 to open) and add qualifying recurring direct deposit totaling at least $1,500 during each monthly statement cycle. After opening a High Yield Savings account, you will have up to two statement cycles to establish a St. Mary’s Bank checking account and establish recurring monthly direct deposits to continue earning the stated savings rate. Thereafter, if qualification requirements are not met in any statement cycle, your account balance will automatically earn the base savings rate of 0.05% APY until requirements are met.

Limit one High Yield Savings Account per member.

Qualifying Direct Deposit: A direct deposit is income that is automatically deposited into a member’s St. Mary’s Bank checking account by an employer, government agency, or other qualifying organization. This can include your paycheck, pension, Social Security, or other eligible benefits. Transfers between your St. Mary’s Bank accounts, and payments received through peer-to-peer or money app services are not considered direct deposits.

1. Comparison based the FDIC’s “National Rate: Savings” series (which includes both banks and credit unions) shows a national average savings rate of 0.38% as of July 2026. Rates are variable and subject to change.

2. Example is for illustrative purposes only and is not a guarantee of future earnings. Actual earnings may vary based on account activity, rate changes, and other factors. Annual Percentage Rate (APY) is variable and subject to change.

3. Early Pay. If we receive notice from an employer or government agency that your funds are ready, we may post your direct deposit earlier than your “official” scheduled payment day. Subject to originator payroll/funds process and timing. St. Mary’s Bank will not assume liability for not depositing funds to your account early.

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Savings

High Yield. Made Simple.

3.65% APY*

High Yield Savings Account

What is a High Yield Savings Account?

How Do I Earn 3.65% APY*?

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