Savings Accounts

Statement Savings

• Interest bearing account.
• No maintenance fee if the balance stays above $100.00.
• $1.00 per month fee if the balance falls below $100.00.
• Up to six withdrawals per month.
• No fee for children under the age of 18.

Money Market Plus

• Interest bearing account.
• $2,500.00 minimum balance.
• Limited check writing availability.

Certificates of Deposit (CD)

If you are looking for a sound investment with a guaranteed rate of return, choose a certificate of deposit from Security Trust & Savings Bank. We offer a variety of terms and competitive rates to meet your investment goals.

• $1,000 minimum for 12, 24 or 36 month CDs
• $2,500 minimum for 91 day and 182 day CDs
• FDIC Insured

Individual Retirement Accounts(IRA)

An IRA from Security Trust & Savings Bank combines the benefits of tax deferred earnings with competitive rates. If you are saving for retirement, to purchase a first home, or for a child's education, we may have an IRA plan for you.

Types of Individual Retirement Accounts

• Traditional IRA's
  A traditional IRA is a simple way to save money for retirement, a first home purchase, or a child's education. You may contribute up to $3,000 per year on a pre-tax basis if you are under age 50 or $3,500 per year if you are age 50 or older. In addition, earnings may grow on a tax deferred basis. Even if you do not qualify to contribute on a pre-tax basis, the earnings will grow tax deferred.
• Roth IRA's
  The Roth IRA will produce tax-free income if certain rules are met. You make contributions on an after tax basis and may be able to withdraw the funds penalty free after five years if you use the proceeds to purchase a first home.
• Coverdell Savings Accounts
  This account allows for after tax contributions up to $2000 per year per child under the age of 18 toward a college fund. The earnings grow tax-free, and withdrawals for education expenses (room and board, tuition, books, etc.) are tax-free. You can also transfer this IRA from one child to another child in the same family without penalty.