CD's and IRA's

Certificates of Deposit

  • You can purchase CD’s with maturities from three months to five years.
  • You have the choice of whether interest is compounded, direct deposited to your checking or savings account or sent to you by mail.
  • Penalties are assessed if you have to cash CD’s early, but your CD’s can be used as security for a loan in which the interest rate is usually substantially less than our normal rates. Many times it is beneficial to borrow against a CD instead of cashing one early.

Individual Retirement Accounts

We offer both traditional and Roth IRAs. You should check with your tax specialist to determine which IRA best suites your needs.

Health Savings Accounts

In addition to IRA's, First Iowa State Bank offers Health Savings Accounts. A Health Savings Account or HSA is a tax-exempt custodial account established for the purpose of paying or reimbursing qualified medical expenses of you, your spouse and your dependents. HSA's are opened in much the same way as an IRA. The account may be set up for automatic deposit and you may make eligible payments from the account either by check or debit card.

For more information or to set up your account please contact one of our customer service representatives.

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