When you’re ready to start saving for the future First Community Bank offers a variety of savings options. Whether you are just getting started, are transferring funds or are a student we have a savings account to fit your needs. We also offer specialized options such as Health Savings Accounts (HSA) and Individual Retirement Accounts (IRA). Select the option that works for you or contact us for more information.
Passbook Savings
- No minimum to open
- $100 Minimum Daily Balance
- Tiered Interest
- $100.00 – $999.99
- $1,000.00 – $2,499.99
- $2,500.00+
- Service Fee Applies
- Interest Compounded Quarterly
Money Market
- Minimum of $2,500 to open
- $2,500 Minimum Daily Balance
- Tiered Interest
- $0 – $9,999.99
- $10,000.00 – $499,999.99
- $500,000.00+
- Service Fee Applies
- Interest Compounded Monthly
Student Savings
- No minimum to open
- No Minimum Daily Balance
- Tiered Interest
- $100.00 – $999.99
- $1,000.00 – $2,499.99
- $2,500.00+
- No Service Fees Apply
- Interest Compounded Quarterly
Specialty Savings Options
Health Savings Accounts
A Health Savings Account (HSA) is a medical savings account. Deposits in an HSA can be post or pre-tax, but either way these funds are not subject to federal income tax and withdrawals are used to pay health-related expenses. For customers to take advantage of an HSA, they must be enrolled in a high-deductible plan.
Health Savings Account Includes:
- Minimum of $100 to open
- No Minimum Daily Balance
- Tiered Interest
- $100.00 – $999.99
- $1,000.00 – $2,499.99
- $2,500.00+
- Monthly Maintenance Fee
- Interest Compounded Monthly
Retirement Accounts
Saving for your retirement can be exciting and overwhelming. Let our knowledgeable staff help you through the process. Various retirement savings accounts are available.
- Traditional IRA – Individual retirement savings plan. Contributions are pre-taxed/tax deductible. Distributions are taxed.
- Roth IRA – Individual retirement savings plan. Contributions are taxed. Distributions are not taxed.
- Simplified Employee Pension (SEP) Plans – Provides business owners a simplified method to contribute to their employee’s retirement as well as their own retirement savings.
- Coverdell Education Savings Account (ESA) – A trust or custodial account created only for paying the qualified education expenses of the designated beneficiary of the account. This option works well for parents saving for children’s education expenses and offers an increased interest rate compared to student savings accounts.
Certificate of Deposits
Certificate of Deposits (CDs) are available. Please contact us for more details.
Contact us and we can help you set up your savings options.
