Review our Rates and Fees page for details on all the following accounts …
Savings and Investments Accounts
People save money for many reasons. So whether you're savings for your next vacation, a major purchase, college education, or retirement, we offer a variety of ways to help you save and invest your money.
Fixed and variable rate accounts are available to meet your savings and investing needs What’s more, your funds on deposit in our savings and investment accounts (except those in Individual Retirement Accounts – IRAs or Christmas Club accounts) are always available as collateral for loans.
• Statement Savings
• Christmas Club Accounts
• Certificates of Deposit (CDs)
• Individual Retirement Accounts (IRAs)
Statement Savings
Traditional savings account offers you the convenience of unlimited deposits, competitive interest and instant availability. It’s a great way to accumulate short-term savings that you plan to spend or move into a higher yielding account later.
Minimum amount to open your statement savings account is only $50.00. Minimum daily balance must be $50.00 to obtain the disclosed annual percentage yield.
This account offers you tiered rates and interest that is compounded and credited every calendar quarter. Check out our Rates and Fees page.
Christmas Club
Saving for holiday gift-giving is easier with our Christmas Club Accounts. The "Club Year" traditionally begins in September and ends the following September – giving you time to do your holiday shopping.
Christmas Club savings programs are available for $5.00, $10.00, $20.00, $25.00 – or any weekly amount greater than $5.00 you choose.
Open your Christmas Club account through July and you’ll and you’ll receive a check at the end of the club year for the amount you have on deposit – PLUS INTEREST.
Certificates of Deposit (CDs)
Extraordinary earnings on an FDIC insured account. Select from terms designed to meet the needs of a variety of investment goals. Phone a Hometown National Bank representative for current interest rates and terms.
Individual Retirement Accounts (IRAs)
Both fixed-rate and variable-rate Traditional IRA and Roth IRA investments are available for long-term retirement needs. Whether you're starting a retirement savings program or ready to rollover another qualified plan, we can help put your funds in the right place.
Our IRA features include:
• Deposit any amount up to the maximum allowed
• Contributions for the prior tax year can be made at any time through April 15th
• Money can be deposited into a Certificate of Deposit or a Passbook account
• Roth IRA earnings can be tax free*
• Traditional IRA earnings can be tax deferred*
• Withdrawals may begin at age 59-1⁄2
• Withdrawals must begin at age 70-1⁄2 – Traditional IRA
• No contributions after age 70-1⁄2 – Traditional IRA
• Make contributions at any age if you have earned income – Roth IRA
• Withdrawals prior to age 59-1⁄2 (in most cases) are subject to a 10% penalty.*
* Consult your tax advisor for details regarding your specific situation.
Use our Retirement Calculator to help plan your future.
Simplified Retirement Plans (SEP) and Self-Directed IRA are also available. Please call a Hometown National Banker for additional information.
CDARS™
If your deposit needs are large, Hometown National Bank offers the CDARS™ program to our customers. The Certificate of Deposit Account Registry Service is the most convenient way to enjoy full FDIC insurance on deposits of up to $20 million.
CDARS™ is the perfect
solution for many depositors – from
non-profits and public funds to businesses,
advisors (including trustees, CPAs, financial planners and lawyers) and
individuals.
With CDARS™, you sign one agreement and receive one regular monthly statement. This saves you from entering into multiple rate negotiations, tracking maturing CDs from numerous banks, and monitoring changing collateral values.
For more information stop by or phone a Hometown National Bank Personal Banker for all the particulars.
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