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| Value | E-Premier | Preferred | Senior | Student | |
|---|---|---|---|---|---|
Apply Now | Apply Now | Apply Now | Apply Now | Apply Now | |
Minimum Balance to Open | $50 | $50 | $500 | $100 | $50 |
Transaction Requirements | None | To qualify to earn the higher tier interest rate you must have a minimum of 10 debits per month & one recurring electronic debit or credit into account per month. | None | None | None |
Min Balance to Avoid Fee | $0 | $0 | $500 $10 fee if account balance falls below min balance in a statement cycle. | $100 $7 fee if account balance falls below min balance in a statement cycle. | $0 |
Other Fees | Excess debit fee $.25 for each debit over 25 per month. | $5 fee every statement cycle if not enrolled in online banking and mobile banking usage of at least 1x per month. | None | None | None |
Interest Bearing | No | Yes | Yes | No | No |
Min Balance to Receive APY | N/A | $.01 | $500 | N/A | N/A |
First Debit Card FREE | No | Yes | Yes | Yes | Yes |
FREE Online Banking, Mobile Banking and Bill Pay | Yes | Yes | Yes | Yes | Yes |
Online Statements Available | Yes | Yes Required to avoid fees. | Yes Required to avoid fees. | Yes | Yes |
24 Hour Phone Access | Yes | Yes | Yes | Yes | Yes |
| Basic | Supreme | Golden Bridge | Christmas Club | |
|---|---|---|---|---|
Apply Now | Apply Now | Apply Now | Apply Now | |
Minimum Balance to Open | $50 | $500 | $1,000 | $5 minimum $2,500 maximum |
Transaction Limits | 6 withdrawals per month 6 transfers per statement cycle. | 6 withdrawals per month 6 transfers per statement cycle. | 6 withdrawals per month 6 transfers per statement cycle. | $10,000 overall deposit limit Deposits accepted to the 2nd week in October. |
Min Balance to Avoid Fee | $50 $2 service fee if falls below any day of the statement cycle. | $500 $2 service fee if falls below any day of the statement cycle. | $1,000 $10 service fee if falls below any day of the statement cycle. | $0 |
Min Balance to Receive APY | $50 | $500 | $1,000 | $0.01 |
Other Fees | $1 withdrawal fee in excess of 6 per month. | $1 withdrawal fee in excess of 6 per month. | $1 withdrawal fee in excess of 6 per month. | 10% of the balance (minimum of $25) will apply to early withdrawals. |
FREE Online Banking, Mobile Banking and Bill Pay | Yes | Yes | Yes | Yes |
Online Statements | Yes | Yes | Yes | Yes |
24 Hour Phone Access | Yes | Yes | Yes | Yes |
A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of reimbursing qualified medical expenses for you, your spouse and your dependents.
A HDHP is a plan with an annual deductible of at least $1,300 in 2017 & $1,350 in 2018 for single (self only) coverage or $2,600 in 2017 & $2,700 in 2018 for family coverage. These amounts are subject to cost-of-living adjustments (COLAs).
Yes. For HSA purposes, the HDHP must limit out-of-pocket expenses. The maximum out-of-pocket expenses, which include money applied to your deductible and your co-insurance for covered charges, must be no more than $6,550 in 2017 & &6,650 in 2018 for single coverage and no more than $13,100 in 2017 & $13,300 in 2018 for family coverage. These amounts are subject to cost-of-living adjustments (COLAs).
You establish a HSA the same way you establish an IRA – with a qualified custodian.
If you meet the eligibility requirements for a HSA, you, your employer, your family members, and any other person (including non-individuals) may contribute to your HSA. This is true whether you are self-employed or unemployed.
A HSA is not a “use it or lose it” account. Your funds will not expire if you do not use them within the year. Funds in your HSA rollover into the next calendar year when there is a balance.
Beginning in 2017, HSA contributions are no longer limited by a health plan’s deductible amount, thus raising contribution amounts for most HSA holders. Please refer to the table below for 2017 and 2018 contribution limits.
A HSA owner may take a one time (once-in-a-lifetime) tax free distribution from his or her IRA, and transfer that amount to an HSA. The provision does not apply to SEPs or to SIMPLE retirement accounts.
| Self-Only Coverage | |
| 2017 | $3,400 |
| 2018 | $3,450 |
| Family Coverage | |
| 2017 | $6,750 |
| 2018 | $6,900 |
Additionally, a “catch-up” contribution is available for eligible individuals who are age 55 or older by the end of their taxable year and have not enrolled in Medicare. The chart that follows shows these additional amounts.
| Tax Year | |
| 2017 | $1,000 |
| 2018 | $1,000 |
Write a check or use your HSA debit card to pay for qualified medical expenses to your health services provider. You may also make a direct withdrawal of funds from HOMEBANK. It is very important to save your receipts and statements. You will need them to complete your annual tax return.
Contributions to a HSA are fully deductible. The earnings grow tax deferred, and distributions for qualified medical expenses are tax-free. Consult with your tax or legal professional for guidance.
Contributions made by you, your family members, and any other person on your behalf, which do not exceed the maximum annual contribution amount, are deductible by you when determining your adjusted gross income for your federal tax return. You cannot deduct employer contributions, and these contributions will not count as wages for federal income tax purposes.
Regular and catch-up HSA contributions can be made at any time for a taxable year up to and including your federal income tax return due date, excluding extensions, for that taxable year. The due date for most taxpayers is April 15.
Distributions from your HSA, used exclusively to pay for qualified medical expenses for you, your spouse, or your dependents, are excludable from your gross income. Any other distributions are includable in your gross income and are subject to an additional 10 percent tax on the amount includable, except in the case of distributions made after your death, your disability, or your attainment of age 65. HSA distributions that are not rolled over will be taxed as income in the year distributed, unless they are used for qualified medical expenses. Any qualified medical expenses must be incurred only after the HSA has been established.
| TERM | MINIMUM DEPOSIT TO OPEN ACCOUNT | MINIMUM BALANCE TO OBTAIN APY | INTEREST RATE | ANNUAL PERCENTAGE YIELD (APY) |
|---|---|---|---|---|
3 MONTHS | $2,500.00 | $2,500.00 | 0.15% | 0.15% |
6 MONTHS | $2,500.00 | $2,500.00 | 0.25% | 0.25% |
12 MONTHS | $2,500.00 | $2,500.00 | 0.45% | 0.45% |
18 MONTHS | $2,500.00 | $2,500.00 | 0.50% | 0.50% |
24 MONTHS | $2,500.00 | $2,500.00 | 0.70% | 0.70% |
30 MONTHS | $2,500.00 | $2,500.00 | 0.80% | 0.80% |
36 MONTHS | $2,500.00 | $2,500.00 | 1.10% | 1.10% |
48 MONTHS | $2,500.00 | $2,500.00 | 1.34% | 1.35% |
60 MONTHS | $2,500.00 | $2,500.00 | 1.59% | 1.60% |
| Term | MINIMUM DEPOSIT TO OPEN ACCOUNT | MINIMUM BALANCE TO OBTAIN APY | INTEREST RATE | ANNUAL PERCENTAGE YIELD (APY) |
|---|---|---|---|---|
TIME OPEN SAVINGS | $50.00 | $50.00 | 0.70% | 0.70% |
12 MONTHS | $2,500.00 | $2,500.00 | 0.45% | 0.45% |
24 MONTHS | $2,500.00 | $2,500.00 | 0.70% | 0.70% |
36 MONTHS | $2,500.00 | $2,500.00 | 1.10% | 1.10% |
48 MONTHS | $2,500.00 | $2,500.00 | 1.34% | 1.35% |
60 MONTHS | $2,500.00 | $2,500.00 | 1.59% | 1.60% |
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| Minimum Deposit to Open Account | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield (APY) | |
|---|---|---|---|---|
E-PREMIER CHECKING* | $50.00 | $0.01 - $25,000.00 | 1.49% | 1.50% |
$25,000.01 + | 0.10% | 0.10% | ||
If you do not meet account requirements | 0.05% | 0.05% | ||
PREFERRED NOW CHECKING | $500.00 | $500.00 - $2,499.99 | 0.01% | 0.01% |
$2,500.00 + | 0.05% | 0.05% | ||
E-MONEY MARKET | $2,500.00 | $2,500.00 - $9,999.99 | 0.10% | 0.10% |
$10,000.00 - $24,999.99 | 0.15% | 0.15% | ||
$25,000.00 - $49,999.99 | 0.20% | 0.20% | ||
$50,000-$99,999.99 | 0.25% | 0.25% | ||
$100,000 + | 0.30% | 0.30% | ||
MONEY MARKET | $2,500.00 | $2,500 - $9,999.99 | 0.02% | 0.02% |
$10,000.00 - $24,999.99 | 0.05% | 0.05% | ||
$25,000 - $49,999.99 | 0.10% | 0.10% | ||
$50,000-$99,999.99 | 0.15% | 0.15% | ||
$100,000 + | 0.20% | 0.20% | ||
BASIC SAVINGS | $50.00 | $50.00 | 0.10% | 0.10% |
SUPREME SAVINGS | $500.00 | $500.00 | 0.20% | 0.20% |
GOLDEN BRIDGE SAVINGS** | $1,000.00 | $1,000.00 | 0.50% | 0.50% |
CHRISTMAS CLUB | $5.00 | $5.00 | 0.25% | 0.25% |
HEALTH SAVINGS ACCOUNT | $50.00 | $50.00 - $9,999.99 | 0.20% | 0.20% |
$10,000.00 - $24,999.99 | 0.25% | 0.25% | ||
$25,000.00 + | 0.50% | 0.50% |
*For account balances greater than $25,000.00, a blended rate of 1.50% – 0.10% APY will be shown on the monthly account statement.
**Must be 50 years of age or older
Identity theft happens when someone steals your personal information and uses it without your permission to do things like open credit cards or other loans in your name, steal bank account information, file taxes or even file health insurance claims under your name. It is a serious crime that can wreak havoc with your finances, credit history, and reputation – and it can take time, money, and patience to resolve. As your community bank, we know that having the right tools available to help you protect your identity is important. We have many tips, resources and providers available to help you protect your identity and guide you if your identity is stolen.