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| Interest Earning Accounts |
Citizens Statement Savings Account will accumulate funds with no specific maturity. Deposits and withdrawals may be made at any time. Interest is compounded quarterly and paid quarterly. A minimum balance of $100 is required to earn interest on the account. However, this requirement is waived for minors/students and senior citizens.
Payments to this seasonal savings plan can be made at any time with a minimum $5 deposit. Choose the Seasonal Savings Club that best suits your budget needs….or open one of each. Earn interest on your investment until you’re ready to use it!
- Spring Account – Pays you in April - Your special vacation fund
- Summer Account – Pays you in July - Helps with education or tuition costs
- Fall Account – Pays you in October - Just in time for holiday shopping
- Winter Account – Pays you in January - Save for your taxes
Each of these interest earning accounts mature on specific dates in the month noted. Credits will be automatically issued to a Citizens checking or savings account. The seasonal savings account will remain open after maturity and begin accumulating new balances.
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Citizens First National Bank offers Certificates of Deposits ranging in term from 3 months to 5 years with varying minimum balance requirements. Rates on these certificates are subject to change each Wednesday; however, the rate effective on the purchase date remains constant for the term of the deposit.
Citizens offers several options for the payment of interest on Certificates of Deposit. You may have your interest deposited directly to a checking or savings account, by bank check to you, you may add the interest to the face value of your certificate. Interest payments are available monthly, quarterly and semi-annually.
There is a substantial penalty for early withdrawal. Withdrawals are permitted only for severe hardships or medical needs.
Call the Citizens office nearest you for current rates.
Check out our CD Specials!
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Citizens Money Market Account provides liquidity plus preferred interest rates and makes investing easy. This account gives you control, opportunity and security of your investment funds.
HIGH-YIELD - Citizens Money Market Account pays interest rates that are among the highest available. This high-yield investment opportunity puts you in charge right from the start. You control the amount you earn by the amount you deposit. You earn higher rates for maintaining higher balances.
LIQUIDITY - You have the opportunity to make deposits at any time and in any amount. You may make withdrawals at any time in person. This is not always true with some Money Markets. You also have the opportunity to write up to 3 checks per month on your account or transfer your investment funds to other accounts at Citizens quickly and conveniently.
SECURITY - You have security knowing your Citizens Money Market Account is secured to the allowed federal maximum by the FDIC. This is not always the case with Money Market Mutual Funds. At Citizens, your investments are safe while they earn interest.
If you have a Money Market Fund or are considering one, contact Citizens today for more information and current rates. Whether you're planning for your retirement or a child's college expenses, Citizens Money Market provides you a local investment option and the security of FDIC.
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- Increased deduction limits
- Relaxed eligibility requirements
- Penalty free distributions for first time home buyers or higher education expenses for yourself, children or grandchildren
Consult your tax advisor for specific tax benefits and information.
- Tax free earnings on higher education savings
- Save up to $2,000 per year, per child
- Tax free/Penalty free withdrawals for higher education expenses
Consult your tax advisor for specific tax benefits and information.
- Tax free earnings
- Penalty free withdrawals for first time home buyers and higher education expenses for yourself, children or grandchildren
- Tax free/Penalty free withdrawal of contributions
Consult your tax advisor for specific tax benefits and information.
This tiered account earns a higher interest rate based on your account balance. You also have the flexibility of making deposits of $50 or more at any time. For your convenience, deposits can be made automatically with transfers from another account. Your funds are safely insured by the FDIC providing you security and peace of mind.
Win your financial independence
with sound investment planning
Consult your tax advisor for specific tax benefits and information.
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Health Savings Accounts (HSA) were created to ease the cost burden of health insurance and provide retirement benefits. A HSA allows the owner of the account to pay for individual and family qualified medical expenses that meet Internal Revenue regulatory requirements. Eligible individuals make fully deductible contributions to the HSA, and when needed, may take tax-free funds from the account to meet qualified medical expenses.
A HSA account at Citizens earns interest based on the balance of the account. Eligibility for this tiered rate account include individuals who are:
- Covered under a High Deductible Health Plan (HDHP) on the first day of the month for which a contribution is made.
- Not covered by another health plan that is not an HDHP.
- Not enrolled in Medicare.
- Not eligible to be claimed as a dependent on another individual’s federal income tax return.
Contact us for more information on HSA options available to you.
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©2010 Citizens First National Bank. All rights reserved.
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