Minor Savings Account 

 Children learn the value of saving for their future. For minors under age 18** 

  • $25 to open 
  •  No minimum balance required 
  •  Interest paid quarterly 
  •  Up to 6 debit transactions/month at no charge* 

*$5 fee per debit above 6 debit transactions per calendar month. 

 ** Upon turning 18, the account is converted to an account that has a minimum balance requirement unless otherwise requested. Children's Online Privacy Policy


Develop good savings.

  • $100 to open ($25 required to open minor account)
  • Interest paid quarterly
  • Free ATM card
  • $5 fee per debit transaction in excess of six per calendar month
  • $1.50 monthly fee, if balance falls below $100 (does not apply to minor savings accounts)

Money Market Savings

Earn higher interest rates on higher balances.

  • $1,000 to open
  • $10 monthly fee, if minimum balance falls below $1,000
  • Tiered interest paid monthly
  • Free debit card
  • $11 fee per debit transaction or check paid in excess of six per statement cycle
  • $2.95 paper statement fee if balance falls below $5,000 (waived with eStatements)

First-Time Homebuyer Savings Account

  • $100 to open
  • Interest paid quarterly
  • $1.50 monthly fee, if balance falls below $100

A First-Time Homebuyers1 Savings Account is a deposit account created for the purpose of saving for a down payment for a single-family, primary residence in the state of Iowa.

If you open an individual savings account, you may be eligible for a state tax deduction2 of $2,000. If you open a joint savings account and file your taxes jointly you may benefit from a $4,000 state tax deduction.2 Interest earned on the account is not taxable.

1Iowa Senate File 505 defines a first time homebuyer as an individual who is a resident of Iowa and who does not own, either individually or jointly, a single-family or multi-family residence for a period of three years prior to the date on which the individual is named as a designated beneficiary of a first-time homebuyer savings account and the date of the qualified home purchase for which the eligible home costs are paid or reimbursed from a first-time homebuyer savings account. 

2You may be eligible for an annual tax deduction up to 10 times a maximum of 10 years. These tax deductions are state only and cannot be claimed on a federal tax return. Please consult your tax advisor, prior to opening a First-Time Homebuyers Savings Account, as we do not provide tax or legal advice.

The First-Time Homebuyers Savings Account must be open a minimum of 90 days before funds can be used toward a qualified home purchase. The funds should be used by January 1 of the 10th year, following the year they opened the account.