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Savings & Money Market

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If you want to save for future needs or goals, our savings and money market accounts are great options to earn interest or take tax advantages.

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Kid's Super Savers

This account is for youth under age 18. Get the benefits of a personal savings account plus prizes!

Interest compounded & paid quarterly
Quarterly statements
$25 minimum balance*
Unlimited in-person withdrawals
Free piggy bank, account register, & stamp book
Kids get a stamp for every $5 deposit made, up to 3 stamps per visit. Once they reach 24 stamps, they receive a free prize!

*If the balance falls below $25, a $6 monthly maintenance fee applies.

The minor can be any age under 18 to open a joint savings account, but the account must be opened together with an adult in a branch. Once the minor reaches age 18, they will be automatically transferred to a personal savings account.

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Personal Savings

Interest compounded & paid quarterly
Quarterly statements
Unlimited in-person withdrawals
$200 minimum balance*
$25 opening deposit & minimum balance for minors (under age 18)*
ATM access when paired with an RSB checking account

*If the balance falls below $200 or $25 for minors, a $6 monthly maintenance fee applies.

Open Savings Account

Must be 18 or older to apply online. Minors must stop in the branch with an adult to jointly open an account. Must be an Iowa resident to apply online. If you are a non-resident who is planning to move to Iowa, welcome! Complete this form, and we will help you get started.

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Money Market

Money market accounts are similar to traditional savings accounts, but they generally earn higher interest rates and have higher minimum balances. These accounts are a way to grow your money without many of the risks associated with unsecured stock market investments.

Interest compounded & paid monthly
Monthly statements
Unlimited cash withdrawals and in-bank transfers
$2,500 opening deposit & minimum balance*
ATM, Touch Tone Teller, online & mobile banking access

*If the balance falls below $2,500, a $10 monthly maintenance fee applies.

Open Money Market Account

First Time Home Owners

First-Time Homebuyer Savings Account

First-Time Homebuyer Savings Accounts (FTHSA) allow individuals to make tax-deductible contributions into an account to be used for certain expenses related to purchasing a home. To qualify for the tax deduction, the beneficiary (homebuyer) must be a first-time homeowner who has not previously owned – either individually or jointly – a single or multifamily residence in the previous three years.

For more details:

Visit the Iowa Department of Revenue's FTHSA page. Please consult with your attorney or tax advisor for additional tax-related questions. Contact us or stop in one of our branches to get started.

Story City Branch: 515-733-4396
Garner Branch: 641-923-2801

Student carrying supplies

Coverdell Education Savings Account

A Coverdell Education Savings Account (Coverdell ESA) is a tax-deferred trust or custodial account created by the U.S. government to assist families in paying qualified education expenses for the designated beneficiary of the account.

This benefit applies not only to qualified higher education expenses, but also to qualified elementary and secondary education expenses for young people (grades K-12) attending eligible schools.

Here's how it works:

When the account is opened, the designated beneficiary must be under 18 or be a special needs beneficiary. The account must be designated a Coverdell ESA when it is created.
Contributions must be made in cash, and they are not tax deductible.
Any individual whose modified adjusted gross income is beneath the limit set by the U.S. government may make contributions.
There is no limit to the number of accounts which can be created for a particular beneficiary; however, the total contributions to all accounts on their behalf may not exceed $2,000 a year.
In general, the designated beneficiary of a Coverdell ESA can receive tax-free distributions to pay qualified education expenses. The distributions are tax-free to the extent the amount of the distributions doesn't exceed the beneficiary's qualified education expenses. If a distribution exceeds the beneficiary's qualified education expenses, a portion of the earnings is taxable to the beneficiary.
Coverdell ESA funds must be used by the time the beneficiary is 30 (unless the beneficiary is a special needs beneficiary), or taxes, fees, and penalties will accompany withdrawals.

For more details, visit the Internal Revenue Service's Coverdell ESA page. Please consult with your attorney or tax advisor for additional tax-related questions. Contact us or stop in one of our branches to get started.