Our statement savings account allows you to access your account 24-hours a day using your ATM card; transfer money between accounts; and combine your checking and statement savings activities into one, easy-to-read statement. Plus, there is no monthly maintenance fee. There is a maximum of six electronic transactions per statement cycle (ATM, Online Banking or Telephone Banking). If you exceed this limit, you will be charged $10 per excess transaction.
There is nothing better than the satisfaction of watching your money grow in a traditional passbook account. The account does not have any monthly maintenance fees and earns interest on as little as $20, so your money is sure to build! It’s also a perfect way to start a young saver on the road to proper money management!
Certificates of Deposit
Investing doesn’t have to be risky business. Placing your money into a Certificate of Deposit (CD) from The Village Bank is a sure thing. Earn guaranteed rates of interest on a variety of set terms.
Individual Retirement Accounts
Save for retirement with one of The Village Bank’s Individual Retirement Accounts. Anyone under the age of 70 ½ with earned income may make a contribution to a traditional IRA. A person with earned income who is not covered by an employer-sponsored retirement plan may deduct IRA contributions regardless of his or her income. Withdrawals prior to the age of 59 ½ can be made without an IRS penalty for certain reasons such as a first-time home purchase or higher education expenses. Please consult your tax advisor for more information.
Although contributions to a Roth IRA are not tax deductible, there are definite tax-related advantages. Funds can be withdrawn after the age 59 ½ tax- and penalty-free provided the account has been open for at least five years. Withdrawals prior to the age of 59 ½ can be made without an IRS penalty for certain reasons such as a first-time home purchase or higher education expenses. Please consult your tax advisor for more information.