 |
 |
 |
 |
 |
 |
 |
|
||||||||
| Home |
|
|
|
PERSONAL SAVINGS
We have several ways to help you grow your money. And with any of our savings account options you may access your accounts at www.localbankers.com or call the 24-Hour TeleBanc. PERSONAL SAVINGS COMPARISON CHART MAINSTREET SAVINGS
FLEX SAVINGS
HEALTH SAVINGS ACCOUNT (COMING SOON!)Health Savings Accounts (HSAs) are used for the purpose of health care expenses when linked with a high-deductible health plan. Eligible participants may contribute tax-deferred funds up to IRS annual limits. This account can be used to pay for medical prescriptions, co-payments, deductibles, eyeglasses, contact lenses or any other qualified health care expense. An HSA allows you to contribute to your account and use the monies toward your future eligible health care expenses — tax free! *Eligibility rules apply. Consult your tax advisor. KIDS CLUB SAVINGS
* You may make six transfers from your account each four week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Three of these transfers may be made by check, draft, debit card or similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited. All aforementioned transactions apply when determining any service charges. CERTIFICATES OF DEPOSIT (CDs)This investment is a classic, offering safety and stability. A certificate of deposit is a "time deposit," meaning you have agreed to deposit a sum of money for a specified time period, during which you are not permitted to make withdrawals without the deposit being subjected to an early withdrawal penalty. Choose any term that fits your situation, from 91 days to five years (60 months). You'll earn competitive, fixed rates of interest. You will also have several interest payment options. Early withdrawal penalties apply. PENALTY FREE CD (NEW!)You may withdraw part or all of your deposit one time without penalty. The Penalty Free CD carries no penalty for early withdrawal after the first 6 days of the account term and only one penalty free withdrawal is permitted during the term when you reinvest the amount withdrawn in any Mainstreet Bank deposit account. CD INVESTMENT SERVICEClick here to view the How CDARS Works Video (Quicktime version) Free yourself from the hassle of multiple accounts with multiple banks and keep life simple – the way CD investing was intended to be. With the new CD Investment Service, Mainstreet Bank allows you to:
How does the CD Investment Service work? Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Mainstreet Bank. The agreement contains important information and conditions regarding the placement of funds by us. Please read the agreement carefully before signing it. With customer consent, we may choose to receive fee income instead of matching deposits from other banks. CDARS is a registered service mark of Promontory Interfinancial Network, LLC. INDIVIDUAL RETIREMENT ACCOUNT (IRA)An IRA is a useful and effective investment tool to prepare for retirement, and we have a great selection of IRAs so you can choose the best one. Any of our CDs or regular savings accounts may host an IRA. The interest you earn on your IRA remains tax exempt until you retire. Your contributions may be tax deductible, depending on whether you or your spouse are covered by other retirement plans. When you have a savings account at Mainstreet Bank, you have access to |
| Mainstreet Bank Vision: We Build Trusting Relationships by Valuing, Respecting and Recognizing Customers and Communities. |
