Savings

• Open with as little as $50
• No monthly service charge
• Competitive interest rates (click here for current rates)
• Account earns no interest if balance falls below the $50.00 minimum requirement
• Quarterly compounding and crediting of interest
• Complimentary piggy bank for new Passbook Savings accounts opened for children 12 years or younger
• Accounts for minor children can be established as WUTMA (Wisconsin Uniform Transfer to Minor Account) or as joint accounts with parent(s) or guardian(s)
• $5 check cashing fee for savings accounts if it is the only account and the balance is less than $200 at the time of check cashing.
• Minimum balance to maintain Passbook Savings Account is $1.00, or the account may be closed.

• Open with a $10,000 deposit
• Competitive interest rates (check current rates here)
  
• Weekly interest rate reviews
• Monthly interest deposits
• Waive $10 monthly service charge with a $10,000 minimum daily balance
• Experience tiered interest rates that adjust based on your balance.
  
• Minimum withdrawal of $500
• Monthly statements with check and deposit images for easy tracking
  

• Open with a $2,500 deposit
• Competitive monthly interest rates (click here for current rates)
• Easier access to your money
• Waive $10 monthly service charge with a $1,000 minimum daily balance
  
• Experience tiered interest rates that adjust based on your balance.
• Monthly statements with check and deposit images for easy tracking
  
• Minimum withdrawal amount of $500

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.

To determine if you are eligible, read IRS.gov Publication 969

For a list of qualified medical expenses, read IRS.gov Publication 502

An HSA is an account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs. HSA funds generally may not be used to pay premiums.

Our HSA will maximize your health care purchasing power and savings potential.

• No monthly service charges
• Statement provided monthly
• Debit Cards and/or checks can be used to pay expenses
• Minimum balance to open an account is $1

Please request further information from an employee concerning the rates, fees and terms applicable to Health Savings Accounts.

• Open a Certificate of Deposit with a $1,000 deposit
• Establish a termed contract for a fixed rate of return until the maturity date
• Competitive rates and guaranteed returns on investments
• Inquire about automatic renewal for added convenience
• Choose to reinvest interest for a higher Annual Percentage Yield (APY) or receive a check/direct deposit into your deposit account with us
• Early withdrawal penalty may apply if the CD is closed before the maturity date, potentially reducing earnings
• CD terms range from 3 months to 5 years
• View current interest rates and term options by clicking here: (click here for current rates)

Plan 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).

TRADITIONAL IRA Plan - Where contributions are often tax-deductible, and earnings grow tax-deferred.  Withdrawals are taxed as income.  

ROTH IRA Plan - Where contributions are made with after-tax dollars, earnings grow tax-free, and qualified withdrawals are tax-free.

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.