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Personal Savings Accounts
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Account:
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Statement Savings
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Minor Savings
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Personal Money Market
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Description:
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Low-cost. Simple. Effective.
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If you are 17 or under, this account is for you!
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Enjoy tiered interest rates, so you make the most of your money!
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Minimum to Open:
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$100
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$10
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$1,000
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Minimum Balance to Avoid Monthly Fees:
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$200
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$10
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$1,000
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Interest:
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Yes, paid quarterly
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Yes, paid quarterly
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Yes, rates are tiered based on balance and paid monthly
Rate Tier
Less than $1,000
$1,000-$2,499
$2,500-$9,999
$10,000-$24,999
$25,000-$99,999
$100,000-$499,999
$500,000 +
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Additional Benefits:
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Free ATM/Visa Check Card!
3 Free Withdrawals per month, $1 for each additional
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3 Free Withdrawals per month, $1 for each additional
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Free URB Money Market Checks
Free ATM/Visa Check Card!
4 Transactions Per Month at any ATM - Free! (Surcharges by another bank may apply)
6 Withdrawals per month (up to 3 by check) - Free!
$5 for each additional transaction
Free Internet Banking (with URB checking account)
Free Monthly E-Statement (or paper statement)
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Monthly Service Charge:
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$3 if balance falls below minimum
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$3 if balance falls below minimum
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$10 if balance falls below minimum
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Check current rates
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Certificates of With terms ranging from 7 days to 5 years, you’ll enjoy flexibility and FDIC-insured safety. Our personal banking professionals can help you time your maturities to balance potential market rate changes so your cash is available when you need it. $1,000 minimum balance.
Check current rates
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Individual Retirement An Individual Retirement Account (IRA) is a great way to save and plan for your retirement. With an IRA you get the benefit of tax* savings and the ability to compound your money through contributions and interest earnings.
IRAs generally fall into one of two categories – the Traditional IRA or the Roth IRA (see below).
When you stop in, we’ll sit down with you to discuss your goals and needs in order to help you decide which IRA is best for you. Additionally, we encourage you to consult your tax advisor to discuss your tax deductibility status.
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Traditional IRAs
This IRA is designed for individuals who want tax-deferred* savings for retirement. You may also be able to deduct your contributions on your income tax return. Your deduction depends on your Adjusted Gross Income (AGI) and whether you are covered under an employer sponsored qualified retirement plan.
If you or your spouse (if you file jointly) are under 70½ and receive taxable earned compensation, you are eligible to establish a Traditional IRA.
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Roth IRAs
The major benefit of a Roth IRA is tax-free* earnings growth for your retirement. Although contributions to the Roth IRA are not tax-deductible, earnings grow tax-free. You also have the ability to take certain early withdrawals without paying the IRS early distribution penalty. If you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA since your contributions are nondeductible and taxed in the year they are earned.
If you or your spouse has compensation and your modified adjusted gross income does not exceed certain limits, you are eligible to open a Roth IRA.
Contact one of our IRA professionals for additional information or questions.
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*Consult your tax advisor.
Health Savings
What Are They?
A Health Savings Account (HSA) is a savings account that works much like an
IRA – except the money is intended for qualified health care costs. You can pay for current health expenses and save for future qualified medical expenses on a tax-free* basis.
Who Can Have One?
Anyone under the age of 65 who is covered by a High Deductible Health Plan (HDHP) is eligible to open a Health Savings Account.
Why should I own an HSA?
You can save money by:
- Deducting 100% of your HSA contributions from your taxable income
- Accruing interest on a tax-free* basis
- Paying no penalties or taxes when you use your HSA to pay for qualified medical expenses
- Having a high-deductible HSA-eligible health insurance plan, which typically has a lower premium than a plan with a lower deductible
Why choose United Republic Bank for your HSA?
- Premium interest rates
- Cost Effective
- No Set-up fee
- No annual fee
Stop in or call us to discuss how an HSA can benefit you!
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*Consult your tax advisor.
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