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Business Savings/IRA/CD/Money Market

Invest in your own future with these great choices for saving.

We offer a variety of Business Savings options that help you plan intelligently and carefully for the future.

Customary Business Savings1

Minimum Opening Deposit $100
Monthly Maintenance Fee2 $3
Minimum Daily Balance Required to Waive Monthly Maintenance Fee $500
Other Charges $1 per transaction, after third transaction, per month if balance is less than $500
Minimum Daily Balance Required to Earn Interest Daily balance earns interest
ATM Charges3
  • (with active checking account)
  • No charge at Columbia Bank ATMs
  • $2.00 at all other ATMs
  • No charge for POS (point-of-sale)
Statement Options Not applicable

1 The number of transfers & withdrawals is limited for savings and money market accounts.  A $5 charge per withdrawal will be assessed after the sixth withdrawal per statement cycle.  If you continue to exceed the number of transfers or withdrawals, your account may be closed or the account type may be changed.
2 If the balance required to avoid the monthly maintenance fee is based on a minimum, you must maintain the minimum balance each day to avoid the disclosed maintenance fee.
3 ATM cards are available to sole proprietors only.

Business Money Trend1

Minimum Opening Deposit $1,000
Monthly Maintenance Fee2 $10
Minimum Daily Balance Required to Waive Monthly Maintenance Fee $1,000
Other Charges $1 per debit if balance is less than $1,000
Minimum Daily Balance Required to Earn Interest Daily balance earns interest
ATM Charges3
  • No charge at Columbia Bank ATMs
  • $2.00 at all other ATMs
  • No charge for POS
Statement Options Safekeeping required

1  The number of transfers & withdrawals is limited for savings and money market accounts.  A $5 charge per withdrawal will be assessed after the sixth withdrawal per statement cycle.  If you continue to exceed the number of transfers or withdrawals, your account may be closed or the account type may be changed.
2  If the balance required to avoid the monthly maintenance fee is based on a minimum, you must maintain the minimum balance each day to avoid the disclosed maintenance fee.
3 ATM cards are available to sole proprietors only.

Premium Business Money Market1

Minimum Opening Deposit $25,000
Monthly Maintenance Fee2 $20
Minimum Daily Balance Required to Waive Monthly Maintenance Fee $25,000
Other Charges Not applicable
Minimum Daily Balance Required to Earn Interest Daily balance earns interest
ATM Charges3
  • No charge at Columbia Bank ATMs
  • $2.00 at all other ATMs
  • No charge for POS
Statement Options Safekeeping required

1  The number of transfers & withdrawals is limited for savings and money market accounts.  A $5 charge per withdrawal will be assessed after the sixth withdrawal per statement cycle.  If you continue to exceed the number of transfers or withdrawals, your account may be closed or the account type may be changed.
2  If the balance required to avoid the monthly maintenance fee is based on a minimum, you must maintain the minimum balance each day to avoid the disclosed maintenance fee.
3  ATM cards are available to sole proprietors only.

Compare Business Savings and Money Market Accounts1

 Customary Business Savings 1Customary Business Money Trend 1Premium Business Money Market 1
Minimum Opening Deposit $100 $1,000 $25,000
Monthly Maintenance Fee $3 $10 $20
Minimum Daily Balance Required to Waive Monthly Maintenance Fee2 $500 $1,000 $25,000
Other Charges $1 per transaction, after third transaction, per month if balance is less than $500 $1 per debit if balance is less than $1,000 Not applicable
Minimum Daily Balance Required to Earn Interest Daily balance earns interest Daily balance earns interest Daily balance earns interest
ATM Charges3
  • (with active checking account)
  • No charge at Columbia Bank ATMs
  • $2.00 at all other ATMs
  • No charge for POS
  • No charge at Columbia Bank ATMs
  • $2.00 at all other ATMs
  • No charge for POS
    • No charge at Columbia Bank ATMs
    • $2.00 at all other ATMs
    • No charge for POS
    Statement Options Not applicable Safekeeping required Safekeeping required

    1  The number of transfers or withdrawals is limited for savings and money market accounts. A $5.00 charge per withdrawal will be assessed after the sixth withdrawal per statement cycle. If you continue to exceed the number of transfers or withdrawals, your account may be closed or the account type may be changed.
    2  If the balance required to avoid the monthly maintenance fee is based on a minimum, you must maintain the minimum balance each day to avoid the disclosed maintenance fee.
    3  ATM cards are available to sole proprietors only.

    Business Health Savings Accounts

    If you offer a high-deductible health plan (HDHP), the employees who participate in that plan may be eligible to contribute to a Health Savings Account (HSA)—a flexible, tax-free way to save for their medical expenses. By establishing an HSA program at your company, you're opening the door to a host of benefits for you and your employees.

    Expanded Availability

    Unlike Archer Medical Savings Accounts, HSAs are available to everyone, not just the employees of small businesses and the self-employed.

    Tax-Free Benefits

    HSAs allow you and your employees to make contributions and earn interest tax free. Plus, the distributions (the assets withdrawn) are also tax free as long as they're used for qualified medical expenses.

    Flexibility in Spending

    The assets in an HSA can be used to pay for—or reimburse—qualified medical expenses, such as health insurance deductibles, co-payments, certain over-the-counter medications and out-of-pocket expenses.

    Year-to-Year Savings

    You've heard the phrase, "use it or lose it." Well, an HSA isn't like that at all. HSA balances carry forward year after year, allowing you and your employees to budget for health expenses and build up savings to cover qualified medical expenses when the need arises.

    Individual Ownership

    An HSA is owned by each individual. So, it's his or her responsibility to maintain.

    Contribution Options

    As an added benefit to your employees, you can choose to make contributions to their HSAs. The annual contribution limit is based on the type of HDHP coverage. For 2010, the limit increases to $3,050 for self-only coverage and $6,150 for family coverage. These limits are subject to annual cost-of-living adjustments (COLAs). Individuals who are age 55 or older by the end of the taxable year and not enrolled in Medicare may make additional contributions up to $1,000 per year.

    Find out more today

    As you can see, offering an HSA program (in conjunction with an HDHP) provides benefits to both you and your employees. Call us or stop in to find out more.

    Account Flexible Spending Account Health Reimbursement Arrangement Health Savings Account
    What type of plan is required? Any type of plan Any type of Plan HDHP required:IRS-defined parameters
    Who owns the account? Employee Employer Employee
    Who can fund the account? Employee Employer Employee, Employer
    Does the account accrue interest? No Yes (but not typical) Yes
    Do assets carry over/roll over to the next plan/next year? Limited Depends on how the plan is set up Yes
    Is the account portable? No No Yes
    Is there a catch-up provision? No No Yes

    You must maintain a minimum daily balance of $2,500.00 to waive the $2.50 monthly maintenance fee on the Business Health Savings account.

    This page is intended to provide general information on federal tax laws governing HSAs. It is not intended to provide legal advice or to be a detailed explanation of the rules or how such rules may apply to your individual circumstances or under your state tax laws.

    For specific information, you are encouraged to consult your tax or legal professional. IRS Publication 969, Health Savings Accounts and Other Tax- Favored Health Plans, the instructions to IRS Form 8889 and the IRS's web site, www.irs.gov, may also provide helpful information.

    Business CDs & IRAs

    Our CDs and IRAs range in maturity periods from 1-5 Months all the way up to a 5-Year (60 Month). With competitive rates and flexible maturity, you have the ability to augment your savings in a way that makes the most sense for you. And we're always happy to answer any questions you may have. Contact or visit any Columbia Bank Branch for assistance with CDs and IRAs.

    An IRA, or Individual Retirement Account, is a great way to save and plan for your retirement. IRAs offer tax savings and the ability to compound your money through contributions and interest earnings.

    Most IRAs fall into one of two categories - the Roth IRA or the Traditional IRA (see below). Within these main categories, there are many types of IRAs and Columbia Bank can offer you a wide variety of options within each category.

    The Roth and Traditional IRAs (as defined by Bankers Systems Inc.)

    The ROTH IRA: The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA. You are eligible to establish a ROTH IRA if you or your spouse have compensation and your modified adjusted gross income does not exceed certain limits.

    The Traditional IRA: The Traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also certain contributions are tax-deductible in the tax year for which you make them. You are eligible to establish a Traditional IRA if you are younger than 70 1/2 for the entire tax year and you or your spouse have compensation.

    What's the difference between a CD and an IRA?

    The short answer is that they are very similar - in fact an IRA is a CD, though there are many different types of IRAs. The rules that apply to IRA's are very different, because they are designated as retirement accounts.

    For instance, when an IRA matures (and if you are below the age of 59 1/2) the money needs to be rolled in to another retirement type account or you will have to pay taxes on the amount and earnings. If you continue to roll the money over into retirement type accounts until you reach the age of 59 and 1/2, you pay no taxes on these funds.

    When a CD matures, you can take the money and reinvest in another CD, roll it over into the same CD for a new term, or use it in any way you wish with no tax penalty. (You can even take the money out of your CD before the maturity date, but there are penalties for that.)

    How to get started: Contact your local branch and talk to your bankers. They will sit down with you and go over all the options, take your needs and goals into account and help you make an informed choice that is best for you.