Excessive Items fees may apply – See TIS Disclosure
Health Savings Account (HSA)
No Monthly Service Charge
Free Online Banking and Bill Pay
Tax advantage to offset health care expense
Designed exclusively for covering medical expenses incurred by the HSA account beneficiary & dependents
Christmas/Vacation Club Account
No Monthly Fees
$10 Minimum to Open
No Minimum Balance
Interest Bearing
No Withdrawals
Can set up automatic transfer from existing account
Checks cut on May 15 for Vacation Club and October 15 for Christmas Club or deposited into an account
Maximum deposit of $100 per week, $5,200 per year
Report Card Savings
Children Kindergarten- 12th Grade
$10.00 minimum to earn interest.
Earn $1.00 for every “A” on your school report card from SCB, up to $6.00 if your parent/guardian matches it!
Deposits made by SCB will have a one year hold from date of deposit.
Certificate of Deposit (CD)
Minimum deposit required
Interest can be compounded, check mailed, or direct deposited into an account
Penalty for early withdrawal
Various terms available
Individual Retirement Account (IRA)
Traditional IRA – IRA plan that takes either deductible or nondeductible contributions. Contributions earn tax-deferred income. The principal and income is taxed as ordinary income when withdrawn.
Roth IRA – IRA plan that takes only nondeductible contributions. Contributions earn tax-free income if qualified when withdrawn.
