Where Northern Minnesota Saves More
Security State Bank’s savings accounts are designed to provide maximum benefits to you by paying interest in tiers based on the daily balance maintained.
We’re always happy to walk you through your options, explaining the difference between traditional savings accounts and certificates of deposits (CDs). Here’s a quick glimpse at what we have to offer:
Security Savings Accounts
The Security Savings Account is designed to meet all of the savings needs of Hibbing and its surrounding communities in northern Minnesota. Interest is compounded and credited monthly.
Certificates of Deposit (CDs)
Christmas Club Savings Accounts
This savings account provides shopping money at just the right time of year. Interest is credited to the account annually, with a check printed on Oct. 25.
Vacation Club Savings Accounts
Prepare for your next summer vacation with this savings account. Interest is credited to the account annually, with a check printed on May 15.
Million Dollar Kids Club Savings Accounts
Savings Accounts Comparison
|Security Savings Account||Certificates of Deposits (CDs)||Christmas Club Savings Account||Vacation Club Savings Account|
|Amount to Open||$50.00||$1,000.00||$10.00||$10.00|
|Monthly Maintenance Fee||$2.00* (if average daily balance for entire month is less than minimum balance)||None||None||None|
|Activity Fees||$1.00 each ** (after six withdrawals per month)||None||None||None|
|Interest||Multiple tiers based on daily collected balance; compounded and credited monthly||Multiple tiers based on daily collected balance; compounded and credited quarterly (for terms greater than 6 months)||Multiple tiers based on daily collected balance; credited at maturity||Multiple tiers based on daily collected balance; credited at maturity|
* Monthly maintenance fees are waived for accounts in the name and tax ID of minors.
** Federal regulation limits transfers from these accounts to another account or third parties by preauthorized, automatic or telephone transfers to six per month.