More Savings Options

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Money Market

Money Market Savings Accounts are useful in maintaining liquidity while accumulating wealth. You can make six withdrawals per month without a charge and your account earns interest on all collected balances. A monthly fee of $10 is charged if the average daily balance falls below $2,500. Paper statements, if you wish to receive them, are included, although we recommend receiving e-statements.

Health Savings Accounts

This is an account where an individual can save money, potentially tax-deferred, for medical expenses. We recommend you consult with your tax advisor to see how this account may benefit you. More information is available at treasury.gov.

Certificates of Deposit

Certificates of Deposit (CDs) are similar to savings accounts in that they are FDIC insured and thus virtually risk-free. Unlike savings accounts, CDs have a specific, fixed term (often three months, six months, or one to five years), and, usually, a fixed interest rate. Also unlike savings accounts where a limited number of withdrawals are available, a CD must be held until maturity, at which time the CD can either be renewed or the money may be withdrawn together with the accrued interest.

Insured Cash Sweep

Insured Cash Sweeps (ICS) combine the convenience of working with one financial institution with the security of FDIC Insurance for amounts in excess of $250,000. Kirkpatrick Bank places customer funds into money market savings accounts with banks in our network in amounts within the standard FDIC insurance maximum. Customers can manage their accounts online.

  • Earn interest by putting excess cash balances in money market deposit accounts
  • Access to multi-million dollar FDIC insurance protection
  • Conveniently manage ICS funds online
  • Withdraw ICS funds up to 6 times per month
  • Save time by working directly with just one bank – the bank you know and trust

Certificate of Deposit Account Registry Service (CDARS)

  • Earn interest by putting excess cash balances in certificate of deposit accounts
  • Access to multi-million dollar FDIC insurance protection
  • Save time with one bank, one rate, and one statement
  • Terms from 4 weeks to 5 years

Individual Retirement Account

An Individual Retirement Account (IRA) provides individuals the opportunity to make tax-deductible contributions. We recommend you consult with your tax advisor to see how this account may benefit you. Kirkpatrick Bank offers FDIC insured CDs for your IRA.