Savings/CDs/IRAs

BS_51843589_957X417

Security State Bank has a wide variety of Savings options available to meet your individual needs.  

If you would like information on any of our Savings accounts, Certificates of Deposit (CDs), or Individual Retirement Accounts (IRAs), please see a customer service representative at any of our branch locations or telephone us at 360-736-0763 or 800-242-2036.

For variable rate accounts, the rate may change after the account is opened. Fees could reduce the earnings on the account.


Savings Accounts

A savings account allows you to keep extra money in a secure bank account while earning interest on the balance.  Funds in a savings account are less accessible than those in a checking account, but more accessible than those in a CD.  Checks may not be written on the funds in a savings account.  The Federal Reserve Board’s Regulation D mandates that a depositor may make no more than six transfers/withdrawals out of a savings account per calendar month.

Security Saver

The Security Saver Account has a $100.00 minimum balance to open. A service charge of $6.00 will be imposed every quarter if the balance in the account falls below $300.00 any day of the quarter.  This is an interest bearing account.

Minor Savings Account

A Minor Savings Account is available for those under 21 years of age.  It offers a $10.00 minimum balance to open and there will be no service charge imposed on the account prior to the account holder’s twenty-first birthday. This is an interest bearing account.


Money Market Deposit Accounts (MMDA)

A Money Market Deposit Account is an interest bearing account, which earns a tiered rate of interest depending upon the balance in the account. Checks may be written on the balance of this account. A $100.00 minimum balance to open is required. A service charge of $10.00 will be imposed each monthly statement cycle if the average daily balance for the monthly statement cycle falls below $1,000.00.  Per the Federal Reserve Board’s Regulation D, a depositor is limited to six withdrawals/transfers per calendar month. 


Certificates of Deposit

Security State Bank offers Certificates of Deposit at fixed rates for a variety of terms ranging from 32 days to 99 months.  The main difference between a savings account and a CD is that early withdrawal from a CD in advance of a pre-specified term leads to penalty fees. 

Is a Certificate of Deposit Right For You? Take the one-minute Certificate of Deposit test by clicking here.


Secure Your Future With An Individual Retirement Account

Save for your future with an IRA at Security State Bank. There are different IRA options available, including the Traditional IRA, the Roth IRA, and the Coverdell Education Savings Account. The Traditional IRA is an account which allows you to defer taxes on your earnings until they are withdrawn. A Roth IRA is a nondeductible account that features tax-free withdrawals on contributions. There is a five year holding period for conversions and earnings. A Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose: a child’s higher education expenses, as well as elementary and secondary educational expenses including computer hardware and software (as long as educational in nature).

Security State Bank also offers Simplified Employee Pension (SEP) IRAs and Self-Directed IRAs.

A Simplified Employee Pension (SEP) plan is a retirement plan established by an employer, where the employer may contribute a certain percentage of each eligible employee’s compensation directly to the employee’s IRA.

Self-Directed IRAs are IRAs where the individual can direct the investments.  Self-Directed IRAs are handled through our Trust Department, 360-330-2784.

Is an IRA Right For You? Take the One-Minute IRA Test and find out.