Business Savings
Choose the right savings option for your business. Springs Valley offers Focus, WIN, and Money Market savings accounts.
|
Savings Account Comparison Table
Products | Focus Savings | WIN (Weekly Interest Now) | Money Market Savings |
Interest Earned |
Yes |
Yes on balances $1,000.00 and above |
Yes |
Minimum to Open Account |
$100.00 |
$100.00 |
$100.00 |
Service Charge *fees may reduce earnings |
$5.00 Quarterly |
$10.00 Monthly
|
$20.00 Monthly
|
Average Daily Balance to Avoid Service Charge |
$100.00 |
$1,000.00
|
$2,500.00 |
Additional Features |
6 Free withdrawals per quarter, unlimited ATM |
4 Free withdrawals per month |
4 Free withdrawals per month |
Penalty for Early Withdrawal |
No |
No |
No |
Online & Mobile Banking Access |
Yes |
Yes |
Yes |
Account Details for all Savings Accounts
Health Savings Accounts
Health Savings Accounts (HSAs) provide the means for saving on your health and medical costs and building for future retirement. Employers across the country are switching from low-deductible insurance plans to high-deductible plans. Part of what employers save on premium goes into HSAs, and workers spend from those accounts rather than tapping health insurance for every visit to the doctor.
For more information on the contribution limits for the current year visit www.irs.gov.
HSA Tutorial
Benefits to the Employer
- Tax savings – No payroll taxes on employee HSA contributions made through payroll deductions. Federal income tax deduction for contributions you make to your employee’s HSAs.
- Compatibility – Compatible with almost any qualified high-deductible health plans so you don’t have to change your HSA provider if you change your insurance.
- Attract and Retain Employees – An employer-sponsored HSA is part of a competitive benefits package that can help you attract and retain valued employees.
|
Focus Savings
Terms
Features | Details |
Interest Earned |
Yes |
Minimum to Open Account |
$100.00 |
Service Charge |
$5.00 quarterly |
Daily Balance to Avoid Service Charge |
$100.00 |
Additional Features |
6 Free withdrawals per quarter & unlimited ATM |
Penalty for Early Withdrawal |
No |
Benefits
- ATM Card
- Mobiliti™ with CardValet®
- Mobile Banking
- Mobile Deposit
- Online Banking
- eStatements
|
WIN (Weekly Interest Now)
Terms
Features | Details |
Interest Earned |
Yes, on balances $1,000.00 and above |
Minimum to Open Account |
$100.00 |
Service Charge |
$10.00 monthly (forfeit interest on days below minimum balance) |
Daily Balance to Avoid Service Charge |
$1,000.00 |
Additional Features |
4 Free withdrawals per month |
Penalty for Early Withdrawal |
No |
Benefits
- Mobile Banking
- Mobile Deposit
- Online Banking
- eStatements
|
Money Market Savings
Terms
Features | Details |
Interest Earned |
Yes |
Minimum to Open Account |
$100.00 |
Service Charge |
$20.00 monthly |
Daily Balance to Avoid Service Charge |
$2,500.00 |
Additional Features |
4 free withdrawals per month |
Penalty for Early Withdrawal |
No |
Benefits
- Mobile Banking
- Mobile Deposit
- Online Banking
- eStatements
|