| Savings Account | Student Savings | Choice Money Market | Christmas Club | Health Savings Account | |
|---|---|---|---|---|---|
Description | Economical, easy to get started, and adaptable to a wide range of goals! | A great way for our younger clients to save and learn about handling money | A great choice for larger balances with the advantages of limited check writing ability and debit card access* | Enables you to set aside money systematically all year long, then get a nice lump-sum payment for Christmas expenses | Tax-advantaged, personal investment account used for qualified medical expenses; contact a tax advisor for eligibility requirements |
| Minimum to Open | $25 | $0 | $25 | $0 | $0 |
| Minimum Balance: | $100 | None until age 19 | $2,500 | $0 | $0 |
| Monthly Service Charge: | None if $100 minimum daily balance is maintained; $6 per month if balance falls below $100 | None until age 19 | None if $2,500 minimum daily balance is maintained; $10 per month if balance falls below $2,500 | None | None |
| Interest Rate & Annual Percentage Yield (APY): | Variable | Variable | Variable | Variable | Variable |
| Compounding: | Quarterly | Quarterly | Monthly | Annually | Annually |
| Interest Payment Tiers: | No | No | Yes; higher balances earn higher rates | No | No |
| Deposits: | No limits | No limits | No limits | No limits. Automatic deposits are usually set up for the same amount and same period (weekly, monthly, or every payday) | Annual contribution limits apply pursuant to IRS regulations |
Withdrawals:* | 25 free per month, then $3 per excess withdrawal* | 25 free per month, then $2.50 per excess withdrawal* | 25 free per monthly statement cycle, then $3 each for any additional withdrawals* | Withdrawals not permitted except for annual pre-holiday disbursement | Withdrawals permitted for qualifying medical expenses |
| Statements:** | Quarterly | Quarterly | Monthly | Annually | Quarterly |
Additional Benefits: | Can be used for overdraft protection for a checking account | Can be used for overdraft protection for a checking account | Can be used for overdraft protection. Access by debit card and by check are available; limits apply | An easy, automatic, systematic way to save for the holidays | Potential tax savings; see your tax advisor for details |
*Transaction limitations may apply **Free eStatements available. Combined statement option (multiple accounts included on a single statement) available.