Savings

Certificates of Deposit

Terms range from seven days to five years, and pay special Certificate of Deposit rates with minimum deposits as low as $2,500 and a maturity length that suits your needs. Check with a Customer Service Representative for current specials.

Regular Savings

This account allows you to add money as often as you like, with no fixed maturity or term. You earn interest on your balance, and can withdraw money at any time. And as long as you meet the low minimum balance requirement, there's no monthly fee. The fee on this account is waived for minors and customers with other Freestar banking relationships.

Special Events Savings Account

Special events come along periodically, and they can be very disruptive to a family's budget. So life keeps getting better, Freestar has systematic savings programs that can be personalized to every client's unique needs. The most typical of these special events are the holidays, and vacations. You decide how much money you want at a specific point in the future, and how often (weekly, bi- weekly, semi-monthly, etc.) you'd like a systematic transfer to take place to your Special Events Savings Account from your checking. We do all the rest! And when that special event arrives, the money is there to make it happen. Ask your Customer Service Representative for more details.

Health Savings Account

Health Savings Accounts (HSAs) were created by the Medicare bill signed by President Bush on December 8, 2003 and are designed to help individuals save for future qualified medical and retiree health expenses on a tax-free basis. At Freestar Bank, we've created a very flexible tool for your HSA deposits. Our HSA is a high yielding checking account, on which we provide checks and a free debit card so you have optimum access and convenience. Plus, you will have the peace of mind of knowing you have appropriate records and documentation of your medical expenses.

For further information about HSAs, we suggest you visit the following web site: Internal Revenue Service - HSA.

Individual Retirement Account

Now more than ever, an IRA makes sense when planning for a secure retirement. Choose from the traditional IRA, which offers you the potential for making tax-deductible contributions each year, to the Roth IRA with its built-in flexibility for making withdrawals. Both allow your money to grow more rapidly while being sheltered from taxes.

A Rollover IRA is a secure choice for the money you get from a pension plan when you retire or change jobs, allowing you to avoid costly tax penalties.

College Savings Account

Paying for college is harder than ever! Everyone wants to help their children or grandchildren realize their dreams; whether its to become an astronaut, engineer, teacher or technician.

But there’s good news! Saving for college is easier than ever. With a 529 college savings plan, you gain significant tax advantages over traditional ways of saving for college. A 529 plan offers you several important benefits to help you save for college.

Did you know you can open a 529 plan for anyone, your child, grandchild, spouse or even yourself. You can design an individual college savings plan to fit your exact needs, and the earnings in the account can grow tax free.

Your college investment is serious money. Be sure to talk to one of our experienced financial advisers before investing.