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1st Addition Money Market
Regular Money MarketThe Regular Money Market Account can be opened with $2,500.00, pays a competitive rate of interest, which is credited monthly (click here for current rates) and can provide easier access to your money than a passbook savings. Maintain a minimum daily balance of $1,000.00 or more and the monthly service charge of $10.00, will be waived. If the account falls below the minimum daily balance requirement, your interest rate will drop and the monthly service charge will be drawn from your account on the last business day of the month. We will provide a monthly statement including images of your checks and deposits for your convenience. Please review your statement and balance your account monthly. Maintain a $2,000.00 balance in any Headwaters State Bank deposit account and receive one box of complimentary money market checks when you order your checks directly from us at the Bank. Please remember the following Money Market Limitations: The minimum amount you may withdraw at any time is $500.00. passbook savings Passbook Savings is a great way to begin saving for a special purchase or a rainy day. The Passbook Savings can be opened with a $50.00 deposit, has no monthly service charge and pays a competitive rate of interest however anytime it is below the $50.00 minimum balance requirement the account will earn no interest. (click here for current interest rates). Interest will compound quarterly and will be credited to your account on a quarterly basis. As an added incentive for our young savers, Headwaters State Bank offers a complimentary piggy bank for any new Passbook Savings account opened for a child 12 years or younger. Accounts opened for minor children may be established as WUTMA (Wisconsin Uniform Transfer to Minor Account) or as joint accounts with their parent(s) or guardian(s). If a savings account is the only account you maintain at Headwaters State Bank you will be charged a $5 check cashing fee if the balance in the account is less than $200 at the time of check presentment. Minimum balance to maintain a Passbook Savings Account is $1.00 or the account may be closed. Health Savings Account (HSA)Given the high cost of health care, many people with a high-deductible health plan (HDHP) can establish a Health Savings Account (HSA) to pay for qualified medical expenses. Our HSA will maximize your health care purchasing power and savings potential.
Please request further information from an employee concerning the rates, fees and terms applicable to Health Savings Accounts. christmas club savingsMake Christmas shopping a pleasure each year by opening a Christmas Club Savings. Setting a goal and saving a set amount each week will put you ahead of the game when it comes time to start your Christmas season.
You can open your account with as little as $1.00 and make deposits of any amount up to $3,000.00. The current Interest rate for this account is 2.00% with an Annual Percentage Yield (APY) of 2.00%. Withdrawals are prohibited. If you close the account before interest is credited, you will not receive the accrued interest. certificates of depositTime Deposits, also known as, Certificates of Deposit or CDs, are a great way to help your money grow in a safe reliable way. The Certificate of Deposit can be opened with a $1,000.00 deposit and is a termed contract between Headwaters State Bank and the depositor. The CD establishes a fixed rate of return on the investment provided the contract is honored until the maturity date. We offer competitive rates and guaranteed returns on your investments. Ask about automatic renewal for your convenience. Interest earned on your CD can be reinvested to meet the Annual Percentage Yield (APY) or you can receive a check or direct deposit of your interest into your Headwaters State Bank deposit account. Early withdrawal penalty may apply for Certificates of Deposit closed prior to the maturity date on the CD contract and penalties may reduce earnings. CD terms range from 3 months to 5 years. (click here for current interest rates and term options.) iraPlan for education or retirement using Headwaters State Bank’s Individual Retirement (IRA) and Coverdell Education (CESA) options. Headwaters State Bank offers various IRA & CESA products with various terms to meet your needs. SEP-IRA Plan - A SEP is a Simplified Employee Pension plan. A SEP provides employers a simplified method to make contributions toward their employee’s retirement and their own retirement. SIMPLE IRA PLAN – A simple IRA plan is a Savings Incentive Match Plan for Employees. It gives small employers a simplified method to make contributions toward their employee’s retirement and their own retirement. Under a Simple IRA plan, employees may choose to make salary reduction contributions and the employer makes matching or non-elective contributions. All contributions are made directly to an IRA set up for each employee (A SIMPLE IRA). Please consult your Tax Advisor to determine your eligibility to contribute to an IRA prior to opening an account. Our customer service staff can assist you with Rollovers from 401K or other retirement plans. We can also help you transfer your existing IRA from another Financial Institution or re-characterize your IRA with just a few easy steps. Click here for rates and IRA account options. |
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