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Personal Savings

 

Regular Savings Account

Using this account is a convenient way to set money aside for the future.

Features

  • Free Online Banking
  • E-Statements  
  • Interest earned on average daily balance
  • Interest is compounded and paid monthly***
  • Allowed three free debits per month
  • Additional debits are $1.00 each
  • Transaction Limitations****

Monthly Service Charge Schedule

Minimum Balance*

  • Over $100.00 - No Charge
  • Below $100.00 - $5.00 Charge

 

* The minimum balance fee will be waived for individuals under the age of 22 and over the age of 62.
** Service charges are subject to Iowa State and Local Sales Tax.
*** Interest rates on these accounts are subject to change without notice. All interest rates are available on request.
****No more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle, to another account (including a transaction account) of the depositor at the same institution or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties.

 

 

 

The applications are in Adobe Acrobat® (PDF) format and require Acrobat Reader. If you do not have Adobe installed, please click on the icon for a free download.

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Money Market Investment Account

This popular interest-bearing account offers high yields with interest on your average daily balance over $2,500.

Features

  • Free Online Banking
  • E-Statements  
  • Tiered Interest Rates
  • Interest is compounded and paid monthly***
  • Transaction Limitations**** 

Monthly Minimum Balance Service Charge Schedule**

Minimum Balance

  • Over $2,500 - No Charge
  • Below $2,500 - $5.00 and interest will be computed at the Now Account interest rate.

** Service charges are subject to Iowa State and Local Sales Tax.
*** Interest rates on these accounts are subject to change without notice. All interest rates are available on request.
****No more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle, to another account (including a transaction account) of the depositor at the same institution or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties. 

 

 

The applications are in Adobe Acrobat® (PDF) format and require Acrobat Reader. If you do not have Adobe installed, please click on the icon for a free download.

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Health Savings Account

Using this account is a great way to receive a tax advantage to offset health care expenses for qualified individuals.

Features

  • Free Online Banking
  • E-Statements
  • Tiered Interest Rates***
  • Interest is compounded and paid monthly***
  • $1.00 minimum balance
  • Unlimited check writing for qualified medical expenses
  • HSA Shazam®Chek Debit Card available
  • Free Statement Snapshots
  • Monthly Statements

Benefits of an HSA

  • Savings Growth - savings tool with investment growth
  • Flexible - pay current medical expenses or save for future needs
  • Tax savings - tax-deductible contributions, tax-deferred earnings, tax-free withdrawals (if used properly)
  • Ownership - HSA funds carry over from year to year
  • Portable - your HSA stays with you, regardless of change in coverage or employment

HSA Contribution Amounts

 

 

 

HDHP Minimum
Annual Deductible

HDHP Maximum
Out-of-Pocket Expense

HSA Annual
Contribution Limit

2013

$ 1,250 self
$ 2,500 family
Annual Deductible

$ 6,250 self
$ 12,500 family
Out-of-Pocket Expense

$ 3,250 self
$ 6,450 family
Contribution Limit

2014

$ 1,250 self
$ 2,500 family
 

$ 6,350 self
$ 12,700 family
 

$ 3,300 self
$ 6,550 family
 


 

Catch-Up Contribution

An eligible individual who is age 55 or older may make additional HSA contributions, called "catch-up contributions," up to $1,000 annually. This limit is the same for both self-only and family HDHP coverage.

If an individual is otherwise eligible, he can begin making catch-up contributions in the year he turns age 55 and may continue to make catch-up contributions until he is enrolled in Medicare.

 

***Interest rates on these accounts are subject to change without notice. All interest rates are available on request.

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