| Minimum opening deposit | Variable rate | Term | Tax deduction | |
|---|---|---|---|---|
Christmas Club | Minimum opening deposit No minimum | Variable rate Yes | Term Yes | Tax deduction No |
Health Savings | Minimum opening deposit No minimum | Variable rate Yes | Term No | Tax deduction Yes |
Money Market Accounts | Minimum opening deposit Tiers start at $5,000 | Variable rate Yes | Term No | Tax deduction No |
Performance Saver | Minimum opening deposit $10 | Variable rate Yes | Term Yes | Tax deduction No |
iCore Bank's Christmas Club Is A New Year’s Resolution You Can Actually Keep!
Our Christmas Club puts you in a position to save for your holiday spending rather than relying on credit cards with high interest rates to cover holiday purchases. Holiday saving should not be limited to buying gifts, but also for traveling, hosting parties and other upcoming expenses that may end up costing you more if you have to make monthly payments to your credit card provider to payoff expenses.
Benefits of iCore Go Bank's Christmas Club Savings Account:
- Our Christmas Club gives you the unique flexibility to choose any amount you wish to save for the holidays up to $5,000.*
- Disbursements will be credited to an account of your choice (No checks will be issued)
- Minimum Opening Deposit - No minimum
- Variable Rate - Yes
- Term - Yes
- Tax Deduction - No
Healthcare is changing fast, and there are new ways for you to benefit. A iCore Go Health Savings Account (HSA) is like a 401(k) for healthcare. Combined with your company’s high-deductible health plan, an iCore Go HSA gives you an easy, safe way to lower your healthcare costs today while saving money for future healthcare expenses.
Smart, Simple Savings for a Healthy Future
Why enroll in a iCore Go HSA?
- Easily manage today’s healthcare costs and save money for future healthcare expenses
- Your high-deductible health plan out-of-pocket limits do not exceed $7,000 for individual coverage or $14,000 for family coverage in 2021.
- Build your healthcare nest egg with access to market-leading, low-cost investment options
- Earn money while saving money with no “use it or lose it” risk
- Minimum Opening Deposit - No minimum
- Variable Rate - Yes
- Term - No
- Tax Deduction - Yes
Earn higher interest rates on your investment dollars while keeping your money accessible. Money Market Accounts offer ready access to funds like a savings account, while paying higher rates like a CD. The greater your account balance, the more interest you will earn. Interest is computed daily and paid monthly. Interest earned is based on account balance.
Transfer Limits
Federal Regulation D (Reg D) places certain limits on the number of withdrawals members can make from their savings accounts. It affects all savings, Money Market and certificate accounts. Reg. D allows up to six (6) withdrawals, overdraft protection transfers, electronic funds transfers/automatic withdrawals (EFT/ACH), online banking or telephone transfers per month. Please keep this in mind if you utilize your Money Market Account as a source of transfers for checking account overdraft protection.
- Minimum Opening Deposit - Tiers start at $5,000
- Variable Rate - Yes
- Term - No
- Tax Deduction - No
Performance Saver Education Account*
Formerly the Education IRA, this account can be established for the purpose of paying qualified elementary, secondary or higher education expenses of a designated child. With a Performance Saver Account, you make nondeductible contributions that may provide for tax-free withdrawal (including earnings) in the future.
*Please consult your tax advisor.
Performance Saver Education Account - Frequently Asked Questions
Who is eligible?
Any child younger than age 18 can be named a beneficiary.
How much can I contribute?
The annual per-designated-beneficiary contribution limit is $2,000 per year, per child younger than age 18. If parents, grandparents and others have each set up an account for the same child, their combined contributions cannot exceed $2,000 per child per year.
What are the withdrawal requirements?
The funds must be used by the time the child reaches age 30 on qualified educational expenses such as tuition, fees, books, supplies, uniforms, etc. Assets of this account may also be transferred to the assets of a sibling's Performance Saver Education Account.
- Minimum Opening Deposit - $10
- Variable Rate - Yes
- Term - Yes
- Tax Deduction - No
Contributions are not tax-deductible. Please consult your tax advisor.
