Need a checking account? Want to set up a savings plan or sign up for online banking? You've come to the right place!
At Marion County Bank, we have a complete range of personal banking products that can help you achieve your goals.
From personal checking to home mortgage options, an in-house investment center to mobile banking, we've got it all, along with the strong commitment to our customers and our community.
E-Z Free Checking
When we say "FREE," we mean free. You're free to access your money with no monthly service fees, no minimum balances, and no minimum deposit required.
Sit back, and watch your money multiply. With an initial deposit and a maintained balance of at least $100, you'll earn interest each statement cycle.
Bank Club Checking
Our bank club checking account combines great features and fun club benefits available for any age.
Exclusively for those age 50 and over, Harvest Club checking earns interest each month with an initial deposit and a maintained balance of at least $100.
Golden Harvest Club
Exclusively for those age 50 and over, this account provides all the benefits we have to offer – interest-earning, club benefits and free checks!
|Account||E-Z FREE||NOW||BANK CLUB||HARVEST CLUB Exclusively for those 50 and over||GOLDEN HARVEST CLUB|
Exclusively for those 50 and over
|"I want to..."||Use my debit card and receive eStatements||Earn Interest||Have the account with everything||Write checks and earn interest||Have the account with all the bells and whistles|
|Benefits||Free Internet Banking, Internet Bill Pay, Mobile Banking, eStatements, TeleBank and unlimited check writing. Check images are included free with all eStatements and printed statements.|
|Monthly Statement||Free eStatement||Free printed or eStatement||Free printed or eStatement||Free printed or eStatement||Free printed or eStatement|
|Personalized Checks||Free 1st Order||Free 1st Order||Free||Free||Free|
|Debit/ATM Cards||Free||ATM Card - $6/year
Debit Card - $12/year
|Free||ATM Card - $6/year
Debit Card - $12/year
|How to avoid monthly
|Sign up for eStatements.
Printed Statements are available at $2.00 per statement cycle
|Keep a minimum balance of $100;
otherwise $8.00 per statement cycle
|There is a $6.00 monthly membership fee for the Bank Club Account||Keep a minimum balance of $100; otherwise $8.00 per statement cycle||There is a $4.00 monthly membership fee for the Golden Harvest Club Account|
*Please stop in the bank or contact a Customer Service Representative at 641-628-2191 to obtain a copy of the Travel Benefits discounts and coupons.
Marion County Bank offers a variety of ways to save. Below are details about our Statement Savings and Money Market Express accounts. We also offer a variety of term CD products.
Savings Account Options
|Statement Savings Account||Money Market Express|
|Minimum Daily Balance||$100||$2500|
|Monthly Service Fee||None; unless balance falls below $100, then $3.00||None; unless balance falls below $2500, then $15.00|
|Withdrawal Availability||6 free per month, then $1.00 per additional||6 free per month, then $5.00 per additional|
|Statements||Free Quarterly Printed or eStatements||Free Monthly Printed or eStatements|
The following withdrawals count toward the six transaction limit per month, as imposed by the Federal Reserve: Telephone transfers, Internet Banking transfers, bill payments, checks to third parties, pre-authorized transfers and overdraft transfers.
Individual Retirement Account (IRA)
It's never too late to start preparing for retirement! Let us help you save with a Traditional IRA or Roth IRA. An IRA is an excellent tool for retirement savings. Depending on the type of IRA you choose, contributions may be tax deductible and will grow either tax-deferred or tax-free. Both the Traditional and Roth IRAs consist of Marion County Bank CDs and are FDIC insured.
A Traditional IRA is designed for anyone under the age of 70 with earned income who wants to save for retirement. The Traditional IRA allows you to defer taxes on the earnings on your contribution until they are withdrawn. Certain contributions are tax deductible in the tax year for which you make them.
A Roth IRA is for anyone who earns income and wants to save for retirement, especially those who may exceed the Traditional IRA income limits. The Roth IRA allows only nondeductible contributions and features tax-free withdrawals.
Consult your tax or legal professional for guidance.
Health Savings Account (HSA)
An Health Savings Account, more commonly known as an HSA, is an account established exclusively for the purpose of paying or reimbursing qualified medical expenses. To pay your medical bills with an HSA, simply write a check or use your free Marion County Bank debit card.
An HSA provides a way to pay for medical expenses tax-free. It also provides a way for individuals to pay for expenses that may not be paid for by a medical plan (i.e. dental, vision, over the counter medications) on a tax-free basis.
An HSA is owned and controlled entirely by an individual. All funds invested in an HSA remain the property of the account owner. The account balances roll over from year to year and accumulate tax deferred. Distributions from your HSA for qualified medical expenses are tax-free. To be eligible for an HSA, an individual must:
- Be under the age of 65
- Be covered under a High Deductible Health Plan (HDHP)
- Not be covered by an other health plan that is not an HDHP (with certain exceptions for plans providing certain types of coverage)
- Not be enrolled in Medicare
- Not be claimed as a dependent on another person's tax return
Consult your tax or legal professional for guidance.
First-time Homebuyer Savings Account (FTHSA)
A First-Time Homebuyer Savings Account (FTHSA) is a new type of savings account passed by the Iowa legislature to make purchasing a first home easier. The law allows Iowans to make tax-deductible contributions into a First-Time Homebuyer Savings Account to be used for the purchase of a home. Those who already own a home can open and contribute to an account for a designated first-time homebuyer and receive a tax deduction on Iowa state taxes too.
The FTHSA is a brand new account that started January 2, 2018 at Marion County Bank. Consult your tax or legal professional for definitive legal guidelines and instructions.
Account Benefits at Marion County Bank:
Interest Earning -
- The FTHSA at Marion County Bank is interest earning. Contact Customer Service for current rate.
Iowa Tax Benefits -
- The account holder may claim a deduction for Iowa individual income tax made during the year by the account holder. The amount deducted may not exceed $2,050 for the 2019 tax year. Married taxpayers who file a joint return may deduct up to $4,100 for the 2019 tax year if the FTHSA is opened and maintained as a joint account.
- Interest earned on account balances is also exempt from Iowa income tax.
- The state of Iowa tax deduction for account contributions is available for up to ten years.
- The annual deduction limits are adjusted annually for inflation.
Home Purchasing Navigation -
- Purchasing a first home is an exciting and often daunting process. Our Home Loan experts at Marion County Bank are available to help you or your account beneficiary walk through the steps of account opening, loan pre-qualification, and mortgage product guidance. Contact Marion County Bank to start the home purchasing journey.
Certificates of Deposit (CDs)
Our CDs provide depositors a great way to manage savings and grow money without risk. Our CD options offer competitive rates of return on terms that range from 3 months to 60 months. Choose the term that works best for you. Check out our online rate sheet for current rates and featured CD options.
Our featured CD options are designed to suit all stages of life:
|Bump CD – If rates go up, yours can too. Our Bump CD allows you to take advantage of a rising rate environment. Bump rate up once during the term, any time after the first six months. Our Bump CD is a 24 month term and has the same rate as our traditional 24 month CD.|
|Build CD – Our Build CD allows you to add money, such as your Christmas bonus or tax refund to your CD’s balance. One deposit is allowed per calendar year and deposit minimum is $1,000. Our Build CDs have an 18 and 24 month term and follow the same rates as the traditional 18 and 24 month CDs.|
|Access CD – Have an unexpected need for cash? The Access CD gives you the option to withdraw without penalty! You may withdraw from your certificate once per calendar year and the amount withdrawn can be up to 10% of the current balance. Our Access CDs are for 48 and 60 months and have the same rate as the traditional 48 and 60 month CDs.|