Personal Savings

One of the simplest ways we’re helping you grow is by helping you save.

Saving money can be a challenge. Finding the right savings account to fit your lifestyle is a great way to start.

Not sure which one is right for you? Simply give us a call, start an online chat, or stop in. We’re happy to help guide you through your choices.

Savings Accounts
 

Personal Savings

Student Savings

Money Market Account

Health Savings Account (HSA)2

Christmas Club

Account Overview

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

A great starter account for those under 201

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
Enroll Now

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

1 Additional joint owner may be required for minors
2 Eligibility Requirements

Certificates of Deposit

Guarantee a return on your investment with a CD.

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 Arbor Bank IRA is a great way to help you grow your retirement savings.

Take control of your future. No matter what your age, it’s not too early or too late to have a plan for your retirement.

Traditional IRA

Your contributions may be tax deductible and the investment earnings can be tax deferred until the time of withdrawal. Penalty-free withdrawals can be made for college expenses or the purchase of a first home. Other withdrawals prior to investment maturity may be subject to penalties.

Roth IRA

Invest after-tax dollars now, receive the growth of tax-deferred earnings, and have the principal amount tax-free when you’re ready to take distributions. Plus, your tax-deferred earnings can become tax-free.

Health Savings Account (HSA)

One way you can help offset the rising costs of healthcare is with an HSA from Arbor Bank. This is not a “use it or lose it” plan. Your unused portion will rollover at the end of the year.

An HSA may allow you to make tax-deductible contributions to pay for qualified medical expenses.

If you currently have or are considering a high deductible health plan (HDHP) or simply want the benefits of saving pre-tax dollars for qualified medical expenses, an HSA may be the right plan for you.

Not sure which plan is right for you?

Simply give us a call, start an online chat, or stop in. We’re happy to help guide you through your choices.

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