Basic Savings, Kids Savings and Health Savings Accounts
Saving money is a vital financial skill whether you are 5, 25, or 65 years old. Lena State Bank makes it easy to save by offering multiple savings accounts with their own benefits. They can help you save for whatever comes next in life, and our Health Savings Accounts can help you save specifically for future medical expenses.
For current rates, fees, and full account details and disclosures, contact Lena State Bank’s Customer Service Department at 815-369-4901 or toll free at 866-369-4901.
| Account | Opening Deposit | Fees | Interest | Benefits |
|---|---|---|---|---|
Basic Savings | $250 | $2.00 monthly service charge if balance falls below $250 | Yes | Funds are easily accessible Free 24/7 Online Banking, Mobile Banking and Online Bill Pay Option for children age 13-18: minimum balance of $25 and the service charge is waived Interest compounded and credited quarterly |
Cash Crew Savers Club- for kids up to age 13 | $25 | N/A | Yes; Compounded and paid semi-annually | For every $5 deposited, one Cash Crew Buck is awarded (limit 100 per calendar year) Cash Crew Bucks can be redeemed for items displayed at the bank The Centsables program®, a program aimed at helping children gain financial powers Upon turning 13 years old, the Cash Crew Savings Account is switched over to a Basic Savings Account |
Health Savings Account* | $100 | No Monthly Service Charge $3.00 monthly paper statement fee if not enrolled in E-Statements | Yes; Tiered (Minimum $2,500 balance required to obtain disclosed APY) Tier 1: $2,500-$9,999 Tier 2: $10,000 and higher | Allows you to put money away for future medical expenses Linked to a high-deductible health plan (HDHP) Tax-exempt account – for qualified withdrawals Can be used on qualified medical expenses for yourself (single HSA) or for your spouse and/or your dependents (family HSA) Free 24/7 Online Banking, Mobile Banking and Online Bill Pay Optional MasterCard Debit Card Checks available (charged separately) |
*Check for eligibility