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Personal Banking
We have many
accounts
to meet
all of your personal
banking needs.
Some of the accounts that we offer are listed below:
Free Checking *
- No
Monthly Service
Charge
- No
Minimum Balance
- Free
Cash Card
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* A non-interest bearing account for consumers. Checks must be purchased.
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Superior Gold Checking
- Age
55 and over
- No
Monthly Service Charge
- No
Minimum Balance
- Many
services provided
at No Charge.
- First
order of safety
checks at no charge
- Occasional
day outings (ask
for details)
Interest Bearing Checking Accounts
- Variable
rate
- Personal
NOW Checking
- Superior
Gold NOW Checking
- Service
charge applies
if Average
Daily Balance
is below $1,500.00.
Disclosure available
upon request.
Consumer
Credit Card
Products
- At
Grand Marais
State Bank, our industry leading consumer credit card
products offer competitive pricing combined with a full
range of reward options - making it easy to select and
apply for the card that meets your needs. Learn
More or Apply
Now.
Statement Savings
- No
minimum balance
- Interest
Compounds
quarterly
- A
$2.00 per month maintenance fee applies if average daily
balance is below $200.00
Mighty
Moose Savers
Club
- Children
ages 12 and
under
- Initial
deposit of
$25.00 to open account
- Each
additional
deposit of $5.00 earns a point
- Save
points and win prizes
- Club
parties held seasonally
- Interest
compounds quarterly
Money
Market Savings
Account
- $2,500.00
deposit required
to open account
- $5.00
per month if average
daily balance falls below $2,500.00
- Interest
compounded
monthly
Certificates
of Deposit
- 90
Day
Investor
CD (3
Months)
Rate
changes
weekly.
- Minimum
balance of $10,000
- 182
DAYS (6 MONTHS)
- Minimum
Balances of
$1,000.00,
$5,000.00 or $10,000.00.
- Rates
vary with
balance.
- 1
YEAR -
Minimum
Balance
of $1,000.00
- 2
YEAR
- Minimum Balance of $1,000.00
- 3
YEAR
- Minimum Balance of $2,500.00
- 5
YEAR - Minimum Balance
of $2,500.00
IRA Accounts
Traditional IRA Accounts
This
account
allows
you
to
defer
taxes
on
your
earnings.
Also,
contributions
may
be
tax
deductible
for
the
tax
year
in
which
they
are
made.
The
IRA
deposit
limits
have
increased
to
$5,000.00
per
individual/year
and
$6,000.00
per
year
for
individuals
50
years
old
and
over.
Contribution
amounts
can
vary
depending
on
your
income
level.
Roth IRA Accounts
This
account
features
tax-free
withdrawals
after
reaching
age
59
1/2
and
maintaining
your
ROTH
for
5
years.
When
you
take
a
distribution
at
that
time,
you
pay
no
taxes
on
any
of
the
earnings
that
your
money
has
accumulated.
Contributions
to
a
Roth
IRA
are
not
tax
deductible.
Contact
your
tax
advisor
to
find
out
how
an
IRA
could
help
you
meet
your
financial
goals.
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Member FDIC |
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts or money-market deposit accounts. Interest on Lawyers Trust Accounts (“IOLTAs”) are the exception. These accounts have unlimited deposit insurance until December 31, 2012.
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An Equal Housing Lender
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