Community Reinvestment Account (CD)
as an Individual Retirement Account (IRA)
 

At Mutual, we're committed to helping you save for retirement by providing the investment products and information you need...and by making the whole process as simple as possible. We take pride in the expertise we have to help you plan for retirement.

An IRA is a powerful wealth-building tool everyone can take advantage of. We have the expertise and tools to assist you with Traditional, ROTH or Educational IRAs.

• No annual IRA administrative fee
• Offers a competitive minimum opening of $1,000 to $3,000
• Competitive interest rates
• Fixed terms ranging from 91 days to 5 years
• Our Breakeven Analysis can assist in your decision making 
   

 Dramatic Benefits of an IRA  

Is the ROTH or Traditional IRA Best for You?  Click Here to use our NEW IRA Selector.

(HSA) Health Savings Accounts

HSA’s are special tax favored savings/investment vehicles to fund medical expenses not covered by insurance.  They were created by the Medicare Prescription Drug, Improvement, and Modernization Act passed in December of 2003.  It took the IRS most of 2004 to promulgate regulations, and for insurance companies to iron out details surrounding the companion health insurance policies with which HSA’s are paired. 
 

Health Savings Accounts are modeled after Individual Retirement Accounts (IRA’s).  Money for medical expenses can be deposited tax free, it can grow tax free, and it can be spent for medical expenses tax free.  And unlike older medical reimbursement accounts, there is no “use it or lose it” catch.  The money can stay in an account that you own until you need it.  This feature makes the HSA especially valuable for helping employees save for medical expenses in retirement.
 

HSA’s are established in conjunction with a High Deductible Health Plan.  HDHP premiums are much lower since the policy deductibles are higher. This is a WIN-WIN solution for employees and small businesses.  Employees pay for more routine costs in exchange for lower premiums and the right to establish a HSA with all its tax benefits.  Important catastrophic coverage remains.  The employer pays lower benefit costs, making drastic benefit cuts less likely.
 

If you’re a small business owner or an employee of one, talk to your Mutual Savings Personal Banker about HSA’s.  We have established a High Deductible Health Plan and Health Savings Accounts for our employee group.  Our bankers have received in-depth training on HSA’s.  We can help you and your employer determine if such a plan is right for your group.  If you would like, we can arrange to do a “lunch and learn” educational program for you and /or your employees. 

Health Savings Checking Account

• Interest bearing
• No minimum opening deposit requirement
• No minimum balance requirement
• Unlimited check writing privileges
• No per check charge
• No monthly charge for servicing the account
• Monthly statements and check safekeeping
• Interest is compounded daily and paid at the end of each statement cycle
• The interest rate and annual percentage yield may change at our discretion and without prior notice
• If the account is closed before interest is credited, you will receive accrued interest
• We use the daily balance method to calculate interest on your account.  This method applies a periodic rate to the principal in the account each day
• VISA Check and ATM/POS Cards not permitted