Savings Accounts

Passbook Savings

This traditional FDIC insured savings account gives you instant access to your savings while earning a competitive rate of interest. An initial deposit of $100 is required to open and maintain this account. Enjoy the convenience and security of Direct Deposit with this passbook Savings account. If you are interested in savings club accounts such as a Christmas Club, Kid's Club or Vacation Club, please contact a Personal Banker for account information

Statement Savings

This FDIC insured savings account gives you unlimited deposit and withdrawal privileges while earning a competitive interest rate. Interest is posted monthly and statements are issued monthly. An initial deposit of $100 is required to open this account. Direct Deposit, Preauthorized Debits and free ATM card are some of the features available with the Statement Savings Account.

Coverdell Education Savings Accounts (ESA)

Formerly known as the Education IRA, this savings vehicle is a smart way to invest for your child's education. Your investment can help pay for expenses including tuition, books and room and board for kindergarten through high school, college and graduate school. Education Savings accounts are FDIC insured separately up to $100,000. See a Customer Service Representative for assistance in establishing a Coverdell Savings Account for your beneficiaries.

$2,000 per year per beneficiary
Income eligibility for contributions
Tax-free earnings
Tax-free qualified withdrawals
Investment flexibility

Health Savings Account (HSA)

A Health Savings Account (HSA) is a tax-advantaged savings account that allows you to save for current and future medical expenses.

An Important Note About Eligibility
To be eligible for an HSA, you must first be enrolled in an HSA-qualified high deductible health plan (HDHP). The HSA/HDHP combination offers tax benefits with affordable health insurance. To qualify for 2007, the HDHP must have a minimum annual deductible of $1,100/individual or $2,200/family. Maximum out-of-pocket expenses cannot exceed $5,500/individual and $11,000/family for 2007.