Starting January 1, 2026, we will no longer service Passbook Savings. All Passbook Savings accounts will automatically convert to a Statement Savings on January 1, 2026.

We will continue to service existing Passbook Savings accounts, including Christmas Clubs and Kids Clubs, until December 31, 2025.

On January 1, 2026, existing accounts will automatically convert to a statement account. Your account number will remain the same as well as any direct deposits.

Passbooks were created prior to electronic banking methods. The printers used to update documents such as Passbooks are no longer being manufactured. While we do have these printers in the branches, the parts to repair and maintain them are no longer being manufactured.

In addition, our branches will slowly be going paperless over the next year, giving you the option for an electronic receipt versus a paper receipt. Removing the Passbook printers is a stepping stone to a paperless branch.

No, our Statement Savings account follows the same fee structure as Passbook accounts and our Schedule of Fees. The account has no maintenance fees or monthly minimum requirements.

• No longer need a book to make a deposit, withdrawal, or transfer
• Online Banking/Mobile Banking eligibility make this account easily accessible
• Eligible for eStatements which means you can view and save up to 13 months of statements, if needed
• Eligible for mobile check deposit
• Eligible for automatic deposits, withdrawals and scheduled transfers
• Can be accessed by debit card in case of emergencies

Yes! We encourage you to make the switch from a Passbook Savings to a Statement Savings prior to the transition date. Our retail team is happy to assist with this request. All account signers will need to sign updated signature cards reflecting this change.

If you are looking to convert your Passbook to a Statement Savings prior to the transition date, we simply require valid identification when you visit our branch. You will not need to bring in your Passbook.

With a Statement Savings account, you will receive a monthly statement in the mail or via email (eStatements) the same way you do for a checking account. Statement Savings accounts are also electronic banking compatible, meaning you can view your transactions, in real-time, via online banking.

If electronic banking is not for you, you can also call our 24/7 Telephone Access line or our Contact Center during normal business hours for information on recent transactions.

With a Statement Savings, you receive monthly statements via mail or email. You can log into online banking to view, download and print statements as needed at no cost.

You can securely destroy/shred your passbook after the transition. You are welcome to drop it off at our branch and we would be happy to securely shred it on your behalf.

We understand change is hard! We’re here to guide you on the best products and services that match up with where you are in your financial journey. One of our team members would be happy to go over our banking options with you. Feel free to stop by a branch or call our Contact Center during normal business hours.

We love financial literacy and appreciate that you do, too! Educating children about saving money is important. With that in mind, we do offer a Kid’s Club account that aims to help children save money through higher rates of interest, an educational coloring book and good saver’s rewards for deposits. Kid’s Clubs with Passbooks will also be converted to a monthly statement account.

Our security and fraud prevention tactics apply regardless of account type. You are no more at risk with one account type versus another. Visit one of our branches or call our Contact Center during normal business hours to learn about keeping your account safe.

We’re happy to help! You can call us at 617-547-3144, email us at hello@naveo.org or stop by a branch during normal business hours.