How many locations does Mascoma Bank have?

Mascoma Bank has 29 physical branch locations throughout Vermont, New Hampshire, and Maine.

What is the transfer limit for Mascoma Bank?

When making a peer-to-peer payment, the daily transfer limit is $2,500.

What types of accounts does Mascoma Bank offer?

Mascoma Bank offers checking accounts, savings accounts, money market accounts, certificates of deposit, and more.

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Mascoma Bank Review: Local Banking with Competitive Savings Options

January 2, 2025

8 min Read

Written by Sarah Sharkey

Edited by Emily Gadd

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

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Mascoma Bank Checking Account
Mascoma Bank Savings Accounts
Mascoma Bank CD Accounts
Mascoma Bank Money Market Accounts
Banking Experience
Comparable Bank Options
Final Take

Savers in Vermont, New Hampshire, or Maine seeking top-tier CD rates might find what they are looking for through Mascoma Bank.

Open a 5-month CD special with a $500 minimum deposit and enjoy a competitive fixed rate to grow your savings.

BMO CDs combine attractive interest rates with flexible terms, making them an excellent choice for savers looking to grow their money securely. With the added benefit of a robust network of branches and digital tools, BMO ensures convenient and reliable banking for its customers. Mascoma Bank is awarded as one of GOBankingRate’s best banks in New Hampshire.

Mascoma Bank Checking Account

Mascoma Bank offers three different checking accounts: More Checking, My Checking, and Relationship Gold Checking. Here’s what stands out about these accounts.

You’ll need to make a minimum deposit of $10 to open any of these accounts.
You can order physical checks for any of these accounts. But only the Relationship Gold Checking account offers free checks.
Each account has a monthly fee, ranging from $5 to $14.99, which can be waived.
The Relationship Gold Checking and More Checking accounts qualify for ATM fee refunds. But the My Checking account doesn’t.
The More Checking and Relationship Gold Checking are both interest-bearing, with APYs of 0.01% to 0.50%.

Mascoma Bank Checking Accounts

Start Banking

Best For

Banking in New Hampshire

Low Monthly Fees

Credit Cards

Investment Services

Low Minimum Deposit

Community-Focused and Convenient Checking

Mascoma Bank offers community-focused checking accounts with low fees and convenient features. With its regional presence, it provides personalized customer service and access to a range of banking tools designed to meet everyday financial needs.

Fees

$5 to $14.99

APY

Min Opening

$10

Pros

Interest-bearing checking account options.
Physical locations throughout New Hampshire, Vermont, and Maine

Cons

Higher APYs available elsewhere
Monthly fees, which can be waived

Quick Take

If you are looking to squeeze as much value as possible out of your funds, the interest-bearing checking accounts available through Mascoma Bank are enticing. But since the physical branch network is limited to New England, you opt to look elsewhere. Plus, the attached monthly fees can add up for savers who don’t qualify for a fee waiver.

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Mascoma Bank Savings Accounts

Mascoma Bank offers two savings account options. Here’s what stands out about these accounts.

Statement savings that require minimum balance to avoid fees; unlimited withdrawals
Minor savings designed for young savers with flexible withdrawals

Mascoma Bank Savings Accounts

Start Banking

Best For

Banking in New Hampshire

Low Monthly Fees

Credit Cards

Investment Services

Low Minimum Deposit

Flexible Options for Growing Your Money

Mascoma Bank offers savings accounts designed to meet various needs, with flexible options, low fees, and features to help you grow your savings efficiently.

Fees

APY

Min Opening

$100

Pros

Minor savings accounts can help children and teens learn to save
Interest-bearing accounts can grow your funds

Cons

Relatively low APYs
Must open a minor Savings account in person

Quick Take

Lackluster rates make Mascoma Bank’s Savings Accounts less than appealing for most savers. But parents of young savers might appreciate the ability to open a Minor Savings account to help teach their child how to save.

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Mascoma Bank CD Accounts

Mascoma Bank offers a slew of worthwhile CDs. Here’s what to know about these options.

CD specials offer competitive rates with short- and mid-term options
Standard CDs range from 7 days to 5 years
CDs can be opened with savings or through an IRA

Mascoma Bank CD Accounts

Start Banking

Best For

Banking in New Hampshire

Low Monthly Fees

Credit Cards

Investment Services

Low Minimum Deposit

Secure Savings with Competitive Rates

Mascoma Bank offers a variety of CDs with competitive rates and flexible terms. With options for both short- and long-term savings, Mascoma provides secure ways to grow your money while benefiting from a strong local banking presence.

Fees

No monthly fees

APY

Variable

Min Opening

$500

Pros

Some terms offer attractive CD rates
No monthly fees

Cons

Some terms offer below-average CD rates
Early withdrawal penalties not disclosed online

Quick Take

Savers seeking short-term options will appreciate Mascoma Bank’s CD specials, offering elevated rates that cater to a variety of financial goals.

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Mascoma Bank Money Market Accounts

Mascoma Bank offers two different money market account options: Money Market Plus and Elevate 1 MMA. Explore what stands out about these options below.

Both accounts offer tiered interest rates
Elevate 1 MMA requires a high balance for top rates
Elevate 1 MMA has no fees; Money Market Plus waives fees with a minimum balance

Mascoma Bank Money Market Accounts

Start Banking

Best For

Banking in New Hampshire

Low Monthly Fees

Credit Cards

Investment Services

Low Minimum Deposit

Flexible Savings with Tiered Interest

Mascoma Bank’s Money Market Accounts offer tiered interest rates and flexible access to your funds. With options to suit different savings goals, these accounts provide a secure and convenient way to grow your money while benefiting from personalized local banking.

Fees

Up to $5

APY

Up to

Min Opening

Up to $1,000

Pros

Interest compounds daily
Waivable monthly fee or no monthly fee

Cons

Top-tier APYs reserved for account holders with $500,000
APYs on most balances are lackluster

Quick Take

Mascoma Bank’s money market accounts do offer a way to grow your funds. But you’ll need to stash a lot of cash into this account to access top-tier interest rates.

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Banking Experience

Mascoma Bank offers a robust network of physical locations across New Hampshire, Vermont, and Maine. If you live nearby a physical location, the ability to handle banking needs in person could be enticing for some.

But it’s worth noting that the financial institution earned above-average ratings on Yelp. Some customers enjoy the banking experience, others have complaints about particular staff members.

Comparable Bank Options

Mascoma Bank isn’t the right option for every saver. If you want to look elsewhere, consider the options below.

Checking

Savings

CDs

Money Market

Fees

$5 to $14.99

$5 a month for inactivity

$3 external funds transfer

APY

Up to

Min Opening

$10

$100

$10

Fees

$5 a month for inactivity

$5 waivable monthly service fee

APY

Up to

Min Opening

$100

$250

Fees

No monthly fees

Early withdrawal penalties will apply

Early withdrawal penalties may apply

APY

Variable

Up to

Min Opening

$500

$1,000

Fees

Up to $5

Waivable $10 monthly service fee

$5 waivable monthly service fee

APY

Up to

Min Opening

Up to $1,000

$2,500

$25,000

Mascoma Bank vs. Capital One

Capital One’s online deposit accounts offer a streamlined way to grow your funds. You’ll find attractive APYs through both the Capital One 360 Checking Account and Capital One 360 Performance Savings Account.

Mascoma Bank vs. Marcus by Goldman Sachs

If you are looking for online CD options, Marcus by Goldman Sachs tends to offer stellar rates. In this case, Mascoma offers higher APYs for some special CD terms. But for some term lengths, Marcus by Goldman Sachs prevails with higher APYs.

Mascoma Bank vs. EverBank

EverBank offers a top-notch high-yield savings account. With high APYs, the account definitely puts your savings to work. When using this account, you won’t have to deal with any minimum balance requirements or monthly maintenance fees.

Final Take

Mascoma Bank is best for New Hampshire, Vermont, or Maine residents looking for a convenient in-person banking experience. In addition to the regional network of physical branches, you’ll find attractive APYs for select CD terms. But for savers who aren’t near a branch, the clunky online banking tools could push you to look elsewhere.

FAQ

How many locations does Mascoma Bank have?
- Mascoma Bank has 29 physical branch locations throughout Vermont, New Hampshire, and Maine.
What is the transfer limit for Mascoma Bank?
- When making a peer-to-peer payment, the daily transfer limit is $2,500.
What types of accounts does Mascoma Bank offer?
- Mascoma Bank offers checking accounts, savings accounts, money market accounts, certificates of deposit, and more.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.

This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine rankings for the Best CD Accounts of 2025, GOBankingRates considered the following factors (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY rate; (5) 60-month CD APY rate, and (6) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, factor (3) was weighed 2 times, and factors (4) and (5) were weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.

To determine the Best Money Market Accounts of 2025, GOBankingRates analyzed the following factors from all banks (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) APY on the money market account; (5) the minimum balance needed to earn the APY; (6) monthly money market fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factor (4) was weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 11, 2024.