Savings

Have security with a business savings account. We have multiple options to fit your needs.

Contact our retail bankers today!

Savings Accounts

 

Growth Savings

Progressive Savings

Annual Fee

None

None

Minimum Opening Deposit

$100.00 

$1,000.00 

Required Minimum Balance

$100.00 

$1,000.00 

Minimum Balance Service Charge

$10.00 monthly if daily balance falls below minimum balance

$10.00 monthly if daily balance falls below minimum balance

Interest

Compounded and credited quarterly

Compounded and credited monthly.  Tiered interest rates based on daily balance

Withdrawal Limitations

6 per month

6 per month

Shazam ATM Cash Card

Free

Free

CDs

 

Classic

Bump Up

Additions Permitted

Penalty Free Withdrawal

Required Minimum Balance

$500.00 

$5,000.00 

$5,000.00 

$5,000.00 

Available Terms

9 mo, 12 mo, 18 mo, 2 year, 3 year, 5 year

9 mo, 12 mo, 18 mo, 2 year, 3 year, 5 year

9 mo, 12 mo, 18 mo, 2 year, 3 year, 5 year

9 mo, 12 mo, 18 mo, 2 year, 3 year, 5 year

Automatically Renewable

Yes

Yes

Yes

Yes

Early Withdrawal Penalty

Yes

Yes

Yes

Withdraw one time during lifetime of CD with out penalty starting 6 days after opening.  Other withdrawals may be subject to penalty

Additions Allowed

No

No

Make unlimited additional deposits to the CD in $1,000.00 increments

No

Interest Rate

Fixed

Raise interest rate one time during original term of CD to match the current interest rate

Fixed

Fixed

* Please contact a Business Banker for Government, Public Unit and Institutional Certificate of Deposit Information

Simplified Employee Pension Plans

Ideal if seeking a low-cost, easy-to-maintain retirement plan for you and your employees

  • Tax Deductible contributions for you and your employees
  • Make contributions for yourself and your employees at any age
  • Change contribution amounts from year to year
  • Invest in a Plan Savings account and/or Certificates of Deposit
  • Tiered Interest Rates for Plan Savings based upon daily balance
  • Earnings are tax-deferred
  • 10% IRA early withdrawal penalty on distributions taken before age 59.5 (some exceptions apply)
  • Penalty Free Distributions once attain age 59.5
  • Distributions are considered part of yearly income and are taxable
  • Required Minimum Distributions once attain age 70.5
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