Carter Bank Launches Free High-Interest Checking

Carter Bank Launches Free High-Interest Checking 4As part of its 50th anniversary celebration, Carter Bank (Nasdaq: CARE) has launched its newest account offering: Lifetime Plus Checking.

A free, no fee, no minimum balance checking account that pays 5.00% interest on balances up to $15,000 if the customer meets three simple criteria, Lifetime Plus Checking builds on the foundation of one of the Bank’s initial products, Lifetime Free Checking.

“As we celebrate our 50th year, we’re not just looking back at our accomplishments; we’re using the foundation set by Mr. Carter to continue our purpose of creating opportunities for more people and businesses to prosper,” Carter Bank CEO Litz Van Dyke said. “With Lifetime Plus Checking, not only do our customers benefit, but it also serves as an opportunity for us to continue to grow Carter Bank, ensuring we remain a cornerstone in the communities we serve.”

When customers make 15 debit card transactions per statement cycle, enroll in eStatements and have at least one ACH or Direct Deposit per statement cycle, they will receive an interest rate of 5.00% APY on the first $15,000. Additionally, ATM fees are refunded up to $15 per cycle, emphasizing the Bank’s commitment to providing value with no hidden fees.

For account balances exceeding $15,000, the interest rate continues at 5.00% on the first $15,000, with a subsequent rate of 0.50% applied to the remaining balance.

For customers who do not meet these criteria, the account pays 0.05% interest.

“Building on the success of our Lifetime Free Checking, the Lifetime Plus Checking account is a milestone in our ongoing efforts to innovate and be a leader in community banking,” Bank President and Chief Strategy Officer Brad Langs said. “This is a product that will certainly grow with the customer. Attractive to everyone, you can open this account when you’re young, even if you aren’t ready to reap all of the benefits, and as your stage in life changes, the account will change with you.”

For individuals interested in learning more about the Lifetime Plus Checking account or opening an account, visit carterbank.com.

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