Old Point Member Transition Guide
Personal Checking, Money Market, and Savings
We’ve thoughtfully chosen a TowneBank account that not only aligns with your transitioning Old Point account but also offers options to fit every stage of life.
Rewards Checking & Freedom Checking
If you currently have an Old Point Rewards Checking or Freedom Checking Account, it will transition to the TowneBank Towne Classic Checking account on February 9, 2026. Towne Classic is designed for members with busy lives who need regular access to their accounts. While this account has a $12 monthly maintenance fee if the minimum balance is not met, please know that all maintenance fees will be waived until February 2027. At all times, the maintenance fee is waived for primary account owners who are age 62 or better, and by the request for full-time students whose parents have an account at TowneBank.
Old Point Perks Program: Please note that the Old Point Perks program currently enjoyed by Rewards and Premium Checking customers will be discontinued as of February 6, 2026.
Premium Checking & Interest Checking
If you currently have an Old Point Premium Checking or Interest Checking Account, it will transition to the TowneBank Towne Gold account on February 9, 2026. Towne Gold is an interest-bearing account for members who maintain higher balances in their checking account. While this account has a $15 monthly maintenance fee if the minimum balance is not met, please know that all maintenance fees will be waived until February 2027.
Old Point Perks Program: Please note that the Old Point Perks program currently enjoyed by Rewards and Premium Checking customers, will be discontinued as of February 6, 2026.
Statement Savings, Combined Statement Savings, Holiday Club Savings*, and Navigator Savings**
As of February 9, 2026, these accounts will transition to a Towne Saver account, which allows for hassle-free savings. While this account has a $6 monthly maintenance fee if the minimum balance requirements aren't met, we will waive this fee for those transitioning from Old Point through February 2027. After February 27, maintain a $300 balance to avoid the $6 monthly maintenance fee. At all times, we waive the maintenance fee for primary account owners aged 62 or better, and by request for full-time students whose parents have accounts at TowneBank.
*A September 2025 mailing to Holiday Club Savings account holders confirmed that the final automated disbursement would be in October 2025. We will continue the automatic monthly deposit transfer into this account and will waive the monthly maintenance fee for the life of the account.
**Navigator Savings account holders will enjoy an account with no maintenance fee or minimum balance requirement for the life of the account. Please note that Navigator Savings prizes will not carry over to TowneBank.
Please note that transaction limitations apply to savings and money market accounts. The first six (6) monthly external transactions are included and a $10.00 fee applies for each additional external transaction. External transactions are transfers from a savings or money market account to third parties by check, through point-of sale purchase transactions or similar debit card transactions, by pre-authorized or automatic agreements through an automated clearing house (ACH), wires, telephone, online or similar order payable to a third person, or ATM withdrawals. Exceptions apply for bank-initiated transactions and transactions required for legal reason.
Money Market Accounts
| If you have one of these Old Point money market accounts... | This will be your money market account at TowneBank... |
|---|---|
| Money Market Savings^ Promotional Money Market Savings^ Preferred Investment Savings^ | Towne Market Master |
^Towne Market Master is an interest-bearing account with a range of tiers for all levels of investors. Interest compounds daily. While this account has a $20 monthly maintenance fee if the minimum balance requirements are not met, we are waiving the maintenance fee for Old Point accountholders through February 2027. After February 2027, you can avoid the maintenance fee by maintaining a minimum daily balance of $10,000. Please note that the first six (6) monthly external distributions are included and a $10.00 fee applies for each additional external transaction.
Please note that transaction limitations apply to savings and money market accounts. The first six (6) monthly external transactions are included and a $10.00 fee applies for each additional external transaction. External transactions are transfers from a savings or money market account to third parties by check, through point-of sale purchase transactions or similar debit card transactions, by pre-authorized or automatic agreements through an automated clearing house (ACH), wires, telephone, online or similar order payable to a third person, or ATM withdrawals. Exceptions apply for bank-initiated transactions and transactions required for legal reason.
Quick Links
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CDs & IRAs
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FDIC Insurance
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Loans
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Overdraft Protection
Frequently Asked Questions
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Your automatic drafts will continue without interruption. In the months following the conversion, we do ask that you review your account activity regularly to ensure that all payments occur as anticipated. We also encourage you to check with your service provider to ensure that the necessary changes have been made. If you are asked to confirm the TowneBank routing number, it is 051408949.
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Both Old Point and TowneBank provide you with the assurance of FDIC deposit insurance protection. Beginning September 1, 2025, the FDIC will view us as a single deposit institution. If you have combined deposit accounts at Old Point and TowneBank exceeding the standard insurance amount of $250,000, please talk to your banker for guidance. There is a six-month grace period following mergers where insurance coverage remains separate, and in some cases, accountholders may qualify for FDIC insurance coverage well above $250,000.
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Please refer to our informational page regarding changes you can expect with online and mobile banking.
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You may continue using your Old Point checks, deposit tickets, and money market documents through December 31, 2026. Please know that your existing Old Point checks will continue to be accepted any place you do business.
When you are ready to place your order for TowneBank checks, we recommend that you contact your banker first. If an outside vendor supplies your checks, please ask your banker for a 'Specification Document' that will provide all the details your check printer needs to know to process the order correctly. The printed Member Information Guide mailed to all Old Point members includes a form you can complete for your first, free order of NEW custom TowneBank personal checks. -
Great news! Most personal and business checking, money market, and savings account numbers will remain unchanged. For accounts with new numbers, your banker will contact you. For your convenience, we will be able to reference your former account number at any time.