Savings, CDs & IRAs

Exp_Bank_Personal_Savings

Start saving for peace of mind or financial security.

 

All of our savings options offer you these free and convenient features:
  • Online banking
  • Mobile & text banking
  • Free online statements
  • FDIC insurance protection
  • 24-hour phone banking
    800.914.6027

Statement Savings

Get down to the basics with our easy to open, easy to save savings account.

More

The basics:
Opening Deposit $100
Minimum Balance $100
Monthly Fees $2 (unless minimum balance remains $100 or greater)
Interest Yes*
More Features Free for students 21 or under

*Variable rate

Apply Online

Onederful Savings

Onederful Savings is a great way to save for special goals. Qualify for a preferred rate* with this companion savings account to our convenient, cash-reward Onederful Checking.

More

The basics:
Opening Deposit $50
Minimum Balance $0
Monthly Fees None
Interest Yes*
More Features Build your savings and earn a preferred rate with an automatic $10 minimum transfer from Onederful Checking this savings account each qualification cycle.

*Variable rate.

Open both Onederful Checking and Onederful Savings accounts online!
Apply Online

Certificates of Deposit (CD)

Guaranteed growth and guaranteed safety make CDs a good fit for anyone with an interest in saving.

More

  • Choose a term that suits your timeline … from 3 to 60 months and lock in your rate.
  • Enjoy higher rates with a longer deposit timeframe.
  • Work with our experience team to manage your maturing funds so you have cash available when you need it.
  • Rest assured your CD investments are FDIC insured.
Apply Online

Individual Retirement Account CDs

Open an IRA CD for retirement funds that are virtually free of risk.  

More

Unlike brokerage IRA products, your IRA CD offers a preferred rate with varying terms.

To open an IRA CD or find a savings product that best meets your personal financial situation, please talk to us.

Individual Retirement Accounts (IRAs)

An IRA is an important tool to help you plan for a financially-secure retirement. It’s worth taking the time to understand the different options available and enjoy a personal consultation with one of our experienced staff

More

Compare and decide which IRA plan options are important to you using the chart below.  Then, come see us and we’ll help you select investment products that you’re most comfortable with.

Roth IRA

Traditional IRA

Taxes
Contributions
Contributions are not tax deductible.  Contributions can be withdrawn at any time without taxes or penalties.1 Contributions are fully tax-deductible if neither you nor your spouse participates in a 401(k) or other employer-sponsored retirement plan, or if your Modified Adjusted Gross Income falls below certain limits.
Earnings and Qualified Withdrawals
Earnings and Qualified withdrawals are tax-free.Earnings may be withdrawn without taxes or penalties if you are age 59 1/2 or older and your account has been open for the five-year holding period.Exceptions to penalties may be made if funds are used for certain purposes, including first-time home purchase ($10,000 lifetime limit), higher education, certain medical expenses, etc. All earnings and tax-deductible contributions grow tax deferred and are taxable upon withdrawal.Penalties will be assessed if you make withdrawals before age 59 1/2 or if withdrawals do not begin in the year you turn 70 1/2.Exceptions to penalties may be made if funds are used for certain purposes, including first-time home purchase ($10,000 lifetime limit), higher education, certain medical expenses, etc.
Contributions
Maximum Annual Contribution
 For tax year 2012:  up to $5,000; $6,000 for those age 50 and over.  For 2013:  up to $5,500; $6,500 for those age 50 and over.  For tax year 2012:  up to $5,000; $6,000 for those age 50 and over.  For 2013:  up to $5,500; $6,500 for those age 50 and over.
 Eligibility
 You must have earned income.  Ability to contribute is based on your income.  If you earn too much to make a full contribution, you may be able to make a partial contribution.  You must have earned income.  THere are no income limits.
Contribution Age Limit
 None  Up to age 70 1/2
Distribution Requirements None Required after age 70 1/2

1 For Traditional to Roth conversions, any converted amounts withdrawn within five years may be subject to taxes and penalties.

We’ll help find the right savings option for you. 

Health Savings Accounts (HSAs)

Flexible, affordable and easy-to-use, a Health Savings Account (HSA) is a smart way to save money to help pay for current or future qualified health costs.  It’s a tax-advantaged option* that gives you more control over your health care dollars.

More

An HSA is an alternative to buying high-priced health insurance coverage with low co-pays and a low deductible.  With an HSA, you buy a low-priced policy with a high deductible for large bills and save the difference to cover small expenses.

Features and benefits:

  • No minimum balance
  • Earns interest
  • Tax-deductible contributions
  • Convenient tax-free withdrawals by check or debit card for qualified medical expenses
  • No “use it or lose it” requirement like most flex benefit plans
  • Contributions are yours to keep if you change jobs or retire
  • HSA-qualified insurance costs less than traditional full-coverage health insurance because of a higher deductible

Eligibility

  • Anyone under the age of 65 enrolled in an HSA-qualified health plan is eligible to open a Health Savings Account.

*Consult your tax advisor to discuss your financial situation.

Savings Bond Resources