Savings Accounts
SaveUp Savings
Earn a Higher Interest Rate when you open a Solutions SaveUp Savings account. All it takes is a $10 minimum recurring transfer from checking to savings each statement cycle. Contact a Universal Banker today to get started!
A simple way to start saving money for the future.
Minimum Balance to Open - $25.00
- Interest earned on your balance, paid monthly
- Electronic quarterly statements
- Fees may reduce earnings
- Variable interest rate
Save The Change
Round up each purchase to the nearest dollar and turn spare change into savings! Save the Change is an easy solution to make your purchases part of your savings plan!
How it works
- Make sure you have our spending and savings solutions.
First, you'll need a Solutions Bank checking account, savings account, and debit card that you use or will use for daily purchases.
- Enroll
Reach out to us and we'll get you the form to get enrolled or click here to enroll online today!
- Shop
Next, use your Solutions Bank debit card! Whether it's for everyday purchases such as groceries, prescriptions, the drive-thru, or for a little online retail therapy, you can save! In other words, spend as you always have.
- Watch the savings add up
We'll round up your purchase to the nearest dollar amount and transfer the change from your checking account to your savings account. It's that simple!
Health Savings Account
High deductible health plans and medical expenses require forethought to avoid a big hit to the budget should medical needs arise. Plan ahead and start saving now with a health savings account at Solutions Bank.
Set aside funds in an HSA and earn tax free interest on your balance. You can easily access funds to pay for your medical bills, prescription medication, and other eligible expenses. It's a smart investment in your health!
HSA Overview
No minimum balance to open
- Interest earned on your balance tax free, paid monthly
- Electronic monthly statement
- Contributions are tax deductible
- Withdrawals are tax free when used for qualified medical expenses
- Easy withdrawal access by check, debit card, bill pay, or in person
- Funds roll over year-to-year automatically
- HSA is owned by you, not your employer
- Fees may reduce earnings
- Variable interest rate
Eligibility Requirements
- No income requirements or limitations
- Must be covered under a qualified, high deductible health plan
- Must not be covered by another health plan that is not a high deductible health plan
- Must not be eligible to be claimed as a dependent on a federal income tax return
- Not enrolled in Medicare
Contribution Limits
The IRS determines contribution limits - which may vary from year to year. Contact us for the latest limits.
Money Market Account
A higher interest rate account with easy access to funds.
Minimum Balance to Open - $2,500.00
- Tiered interest earned based on your balance, paid monthly
- Ability to withdraw funds by check.
- Electronic Monthly Statement Available
- A $10.00 fee will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle
- Fees may reduce earnings
- Variable interest rate
IRA
IRA (Individual Retirement Account) is a tax-advantaged savings vehicle - putting you in charge of your retirement plan. The specific tax benefit depends on the type of IRA: Roth or Traditional. We’re happy to talk to you about the difference between the two, but advise you see a tax advisor to help you determine which is best for you.
- Can rollover from an employer plan
- Transfer from an existing IRA
- Start funding a new plan with as little as $100
- Lump Sum Deposit (Contribution Limits apply for lump sum deposits)
- Depending on your plan, you may qualify for tax credits, or funds may grow tax-free
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