Savings & Money Market Accounts

Money Market Deposit Account

Pays monthly compound interest at a variable rate based on the account balance. A $10 service charge is applied if the daily balance falls below $2,500 during the cycle. Limited transfers to another account or third party.

Savings Account

A variable interest rate savings account that pays monthly compound interest. A $2 service charge is applied if the account balance falls below $100 any day of the month. The service charge is waived for account holders younger than 18 years old.

IRAs

You don’t need a financial advisor to start planning your retirement; you can start at Alta bank with our individual retirement arrangements (IRAs). Our IRAs are held in Certificates of Deposit (CDs), not in the stock market, so you’re guaranteed a steady return and are covered by FDIC insurance. Unlike some banks, we don’t charge you holding fees or an annual fee.

Traditional IRA

Allows contributions of pre-tax income. Taxes are paid upon distribution.

Roth IRA

Allows contributions of after-tax income, if qualified. Qualified distributions of principal and interest are tax-free. After retirement, distributions are not required.

Cover dell Educational Savings Account

A Cover dell Educational Savings Account (ESA) allows money to grow tax-free in an investment account to cover future educational expenses.