Saving for your future is becoming increasingly important today as the traditional sources of retirement funding, including Social Security and company pensions, are becoming a smaller segment of our retirement benefits. We know we should save, but always think there will be an opportunity to save later. Are you preparing for the future? Are you saving for retirement? Premier Bank offers a variety of innovative savings accounts for new savers, families with goals, and people approaching or currently enjoying retirement.
Premier Savings is a standard savings account to help our customers build their finances and earn daily-compounded interest with little or no fees. A $100 minimum is required to avoid a $1 monthly maintenance fee. Six free withdrawals are permitted each month. Additional withdrawals are $1 each.
Premier Bank's Advantage Savings account is designed for our customers who are under age 21 or 50 and better. There is no minimum balance and the account may be opened with as little as $1.
An Installment Savings plan is a non-renewable term-savings account offering higher rates for longer terms. Our Installment Savings account is designed to help our customers reach a savings goal in a specific period of time by depositing pre-determined monthly deposits. Automatic transfers and direct deposit transactions (ACH) from your payroll or benefits are additional steps we offer as an aid to help you meet your savings goal.
Premier Bank's Flex Savings is a high-balance account offering a higher rate of return than our other savings accounts. A Flex Savings account helps your money grow like a short-term certificate, while allowing limited liquidity if you need to make a withdrawal. A minimum balance of $10,000 is required. One free withdrawal is allowed each month.
Premier Money Market
Our personal money market is a high-balance, interest-bearing account that also offers limited check writing. Higher balances earn daily-compounded interest through a tiered rate system. Three checks each month may be written to a third party. The minimum opening balance is $2,000. Accounts with balances that fall below $2,000 are subject to a $10 monthly service charge.
Personal Certificate of Deposit
Our Certificate of Deposit (CD) accounts are term deposits designed to help our customers invest for the future. We offer terms from one to sixty months with a $1,000 minimum. Premature withdrawals are subject to an interest penalty.
Individual Retirement Accounts
Premier Bank offers traditional and Roth Individual Retirement Accounts (IRAs). An IRA is an investment tool for retirement; an essential part of anyone's retirement portfolio. Contributing to a traditional IRA can help reduce your tax liability, while a Roth IRA offers tax free retirement benefits. Our IRAs are tied to a CD account of your choosing. Opening an IRA at any age can provide a tremendous opportunity for future security and retirement benefits. However, opening an IRA when you are young, with regular contributions, can help assure the retirement of your dreams.