Savings Accounts

 

Personal
Savings

Student
Savings

Money
Market
Account

Health
Savings
Account
(HSA)

Christmas
Club

Enrollment Form

Account Overview  

A basic savings account is a great way to save for your future

A great starter account for those under 20*

High yielding, no-fee account for larger balances

Tax free savings account for individuals with a High Deductible Health Plan

 Put a little money aside each week for next Christmas

 Minimum Balance
to avoid service charge

$100  None  $2,500  $1,000  $10

 Extras

  • Nine free withdrawals are available each quarter
  • Nine free withdrawals are available each quarter

 

  • Check writing capabilities
  • Free debit card
  • Three free paper debit withdrawals each month

 

  • Check writing capabilities
  • Free debit card
  • Ten free paper debit withdrawals each month

 

  • Bank will make your last weekly deposit

 

 Monthly Service Charge

  • $3 quarterly if balance drops below $100
  • $2 each withdrawal over nine
  • $2 each withdrawal over nine
  • $10 monthly if balance drops below $2,500
  • $5 each paper debit over three
  • $3 monthly if balance drops below $1,000
  • $3 each paper debit over ten
  •  None

 

* Additonal joint owner may be required for minors
 Eligibility Requirements

 

Certificates of Deposit

Arbor Bank CDs offer you a safe and secure savings option.

  • Low minimum to open
  • Terms from 90 days to 60 months
  • Interest can be compounded to the CD,
    mailed quarterly by check, or deposited
    to your checking or savings account.

There may be a penalty for early withdrawal.

Individual Retirement Accounts

An IRA is a safe and secure method of saving for retirement. Planning for retirement is important, no matter your age. Both fixed and variable options are available.

Traditional IRA - Your contributions may be eligible as a tax deduction and the investment earnings are tax deferred until the time of withdrawal. Penalty-free withdrawals can be made for college expenses or the purchase of a first home. Withdrawals prior to investment maturity may be subject to bank penalty.

Roth IRA - Invest after-tax dollars now, receive the growth of tax-deferred earnings, and have the principal amount tax-free when you take distributions. Plus, your tax-dferred earnings can become tax-free.

Please contact a banker for more details.

 

 

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