Primary Savings Account
- Minimum of $1 to open
- $.01 minimum balance to earn a variable rate of interest
Personal Money Market
- Minimum of $1 to open
- Tiered, variable rates of interest earned on daily balances
- $10 monthly minimum balance fee if account balance falls below $1,000
Health Savings Accounts
The constant changes in health insurance plans and their costs can be overwhelming. A Health Savings Account (HSA) in conjunction with a qualified high deductible health plan (HDHP) may be just what you need. A HSA is a tax-exempt account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse and your dependents. You are encouraged to consult your tax advisor before opening an HSA.
You can use funds in your Northstar Bank HSA to pay for qualified medical expenses until your deductible is met.
- Minimum of $1 to open
- $1 minimum daily balance to earn a variable rate of interest
- Checkbook/Debit card*
- Each HSA contribution in excess of the current annual limit will result in a $10 fee
Goal Savings
- Minimum of $1 to open
- $1 minimum balance to earn a variable rate of interest
- Free automated transfer from Northstar Bank account
- $10 fee assessed for each withdrawal
- Disbursement of funds occurs annually the second Tuesday in October
CDs
- A certificate of deposit at Northstar Bank offers you competitive rates of interest and a guaranteed safe investment
- Flexible terms from 3 months to 5 years available; minimum of $1,000 to open
- Fixed rate options
- Interest compounded and paid monthly, quarterly, semi-annually or annually; minimum balance of $1,000 to obtain annual percentage yield
- Automatically renewed at maturity with rate in effect at maturity; notice sent 10 days prior to maturity; terms of 30 days or less renew with a 5 day grace period or terms of 31 days or more renew with a 10 day grace period
- Penalty imposed for early withdrawal
IRAs
IRAs are one of the safest investments you can make - save for today and for your future.
Traditional IRA
- Earnings grow tax-deferred until you withdraw the funds after age 59 1/2. Then, the earnings are taxed at the then-current tax rate
- Get started with as little as $1,000
- Contributions may be tax deductible (Age and income govern eligibility. Consult your tax advisor to determine if you qualify for any tax deductions)
- Earnings are tax-deferred, so your investments can compound faster
- Pay no taxes on earnings until money is withdrawn
- Safe deposit account that can preserve and grow funds at a guaranteed rate of return
Roth IRA
- Contributions are made with after-tax dollars
- Earnings grow tax-free**
- Contributions (not earnings) can be withdrawn at any time
- Tax-free distribution at retirement**
- Income requirements govern eligibility
- Leave your money in as long as you want (no minimum distributions)
- Safe deposit account that can preserve and grow funds at a guaranteed rate of return
CDARS®/ICS®
Designed to safeguard your investments, CDARS®/ICS® allows you to receive easy access to multimillion in FDIC protection. Northstar Bank is a member of a special network. Funds are diversified with other banks within the IntraFi Network in increments of less than $250,000 – providing complete FDIC protection.
- Enjoy peace of mind - Keep deposits safe with additional FDIC insurance.
- Convenience - Work directly with Northstar Bank. Earn one interest rate and receive one monthly
statement. Individual investors receive one year-end tax form. - Support your community Investment - The full value of your money can support lending opportunities in our local communities.
- Rates - Enjoy local competitive rates.
Funds may be submitted for placement once a depositor enters into a Deposit Placement Agreement
with Northstar Bank. The agreement contains important information and conditions regarding the
placement of funds by Northstar Bank. CDARS®/ICS® is a registered service mark of IntraFi NetworkSM.
Transaction & Reporting Portal
*Subject to approval.**If withdrawn after age 59½ and the account has been open for 5 years or more (begins with tax year of the first contribution).
