FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Personal SavingsInvest in your future todayEnhance your earning power with a savings account. Take advantage of automatic deposits and you can increase your savings account balance effortlessly. |
| Account | Statement Savings | Christmas Club |
|---|---|---|
| Description | A smart and easy way to save while earning interest. Access funds in your account at any ATM with a personalized Limited Access Visa Debit Card. | Plan ahead for all those special needs such as taxes, holiday shopping, a vacation or anything else you want to save for. |
| Minimum Balance to Open | $10 | $1 |
| Monthly Service Charge |
$1 |
None |
| Features |
|
Early withdrawals from the account are not permitted. |
Please refer to our Fees for General Services brochure for additional fees that may apply.
Ready to Get Started? |
CDs & IRAsWhether you're growing wealth or planning for retirement, these solutions are ideal if you want a higher rate and don't need regular access to your money. |
Money MarketBuild your savings while keeping your funds accessible. Open a money market account today and enjoy the best of both worlds! |
Individuals (subject to income limitations**) and entities are eligible to contribute. $2,000 per taxable year is the total aggregate contribution that may be made on behalf of a child under the age of 18.
The IRS assesses a penalty for excess contributions.
There may be penalties for early withdrawal (both IRS and Bank).
*Qualified Education Expenses. The money must be used for the beneficiary's qualified education expense (such as tuition, fees, books, supplies, equipment, etc.) at an eligible education institution; distributions are made during the year in which the education expense occurred; and the beneficiary is between the ages of 18 and 30. Please contact your local Katahdin Trust branch for a complete list of qualified education expenses.
**Income Limitations. Single persons with modified adjusted gross income below $95,000 and married couples filing jointly with modified adjusted gross income less than $190,000 may make full contributions. A phase out contribution is allowed for singles with incomes between $95,000 and $110,000 and married couples with incomes from $190,000 to $220,000. There are no income limitations for entities.
Please refer to our Fees for General Services brochure for additional fees that may apply.
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