Save for health care, a new car or simply to be prepared!
Saving money now to use later is a crucial life skill. Whether you want to save for a new car, a dream vacation or simply to be prepared for whatever life brings your way, we can help!
Take a look at the various savings options we offer below. Once you’ve found the right fit, stop by our office in Storm Lake to open your account today!
Statement Savings
Our standard savings account, Statement Savings is great for both first-time and experienced savers alike.
- Earn interest on your balances
- Up to six withdrawals per month
- $1 monthly fee is balances falls below $100
- No fee for children under age 18
- Put money away for emergencies or a specific future purchases!
Money Market Plus
This account is ideal for those who can commit more income to savings and want to be rewarded for it.
- Interest-bearing account with tiered interest levels (the higher your balance, the more interest you earn!)
- $2,500 minimum balance requirement
- Limited check writing abilities
Health Savings Accounts (HSAs)
While you may have health insurance, you still have to pay out-of-pocket up to your deductible. A health savings account, or HSA, helps you save money to bridge the gap to your insurance deductible or out-of-pocket maximum.
- Must be covered by a high-deductible health care plan
- Cannot be enrolled in Medicare
- Contributions are generally tax-free
- You can use the funds in your HSA to pay for qualifying medical expenses
- Funds rollover from year to year – no “use it or lose it” rules
There are certain tax benefits and implications involved with using an HSA, so be sure to consult your tax advisor before visiting us to open your account.
