The City of Providence and BayCoast Bank Team Up to Support Smarter Savings!
SWANSEA, MA, PROVIDENCE, RI – Saving for the future should be rewarding. That’s why the City of Providence and BayCoast Bank have joined forces to launch the PVD CD+ Program, a unique initiative designed to help Providence residents grow their savings faster while gaining access to the financial knowledge they need to achieve their goals.
Whether you’re saving for a first home, preparing for retirement, or building an emergency fund, the PVD CD+ Program helps put your money to work for you. Eligible Providence residents can earn 4.50% APY* on qualifying Savings or Certificate of Deposit (CD) accounts, providing an opportunity to strengthen their financial picture while keeping their goals within reach.
The PVD CD+ Program offers:
- A preferred rate of 4.50% APY* on eligible Savings or CD accounts
- Exclusive availability for Providence, Rhode Island residents
- Eligibility on balances up to $10,000
Participants will also have access to free educational resources, helping them build confidence in budgeting, saving, borrowing, and long-term financial planning.
«This is a meaningful savings opportunity,» said Marie Pellegrino, President of BayCoast Bank. «Through the PVD CD+ Program, residents can grow their savings while gaining the tools and knowledge that support financial wellness and independence.»
The PVD CD+ Program reflects a shared commitment between the City of Providence and BayCoast Bank to invest in the people who make the community thrive.
“Together, BayCoast and the City are providing residents with resources that can help them save more, plan ahead, and create greater financial stability for themselves and their families,” said Councilwoman Shelley Peterson (Ward 14). “BayCoast can truly serve as a model for all of Providence’s community banks on how to be a good neighbor by investing in the future of the city and its residents.” “
“As the City Treasurer and a resident, I am excited to be leveraging our collective public resources in ways that deliver meaningful benefits to the city’s residents. Thank you, BayCoast Bank, for partnering with us to offer a product that will supports wealth generation within our city.” said Shomari Husband, Providence’s City Treasurer.”
BayCoast is a community bank dedicated to helping everyone build a strong financial foundation. We continue to empower customers by helping them manage their money with peace of mind. Learn more by scheduling a complimentary financial review by calling 508-678-7641.
Providence residents interested in finding out more about the PVD CD+ Program are encouraged to visit BayCoast Bank’s Providence branch at 78 Dorrance Street. Free parking is available at 93 Weybosset Street and 110 Dorrance Street.
*Member FDIC. Member DIF. Annual Percentage Yield (APY) is accurate as of 10/25/2026 and is subject to change at end of 12 month term. Offer available to eligible Providence residents only and may be modified or discontinued at any time. The promotional 4.50% APY consists of a 3.50% APY provided by BayCoast Bank and an additional 1.00% APY funded through the City of Providence program. This offer expires on 12/31/2026 or when program funds are no longer available (whichever occurs first). Promotional APY applies to balances up to $10,000 and is available for 12 months from date of account opening, subject to program funding and eligibility requirements, including proof of residency. Additional terms and conditions may apply. Certificates of Deposit (CDs): Minimum balance to open account is $500.00. Minimum balance to earn the stated APY is $10.00. Early withdrawal penalties may apply and could reduce earnings. Savings Account: Minimum balance to open account is $10.00. Minimum balance to earn the stated APY is $10.00. A monthly maintenance service charge of $1.00 will be imposed each statement cycle if the average daily balance for the statement cycle falls below $10.00. Fees may reduce earnings.
