Your checking account. It’s the foundation of your personal finances, and should match your cash flow and how you manage your money. At Hardin County Savings Bank, we offer a simple checking account with simple features.
Standard Checking Account Features
All of our checking accounts come with the same basic features to provide you with better access to your hard-earned money:
- Online Banking and Bill Pay
- Text Banking and Mobile Banking Apps (phone carrier charges may apply)
- Mobile Deposit
- Debit Card** (bank approval standards apply)
- E-Statements
Premium Checking- Earn 3.56% APY*, when you meet all four of these requirements:
- $2500 minimum balance
- eStatements
- One direct deposit or Remote Deposit Capture of $1000 aggregate per cycle.**
- 10 debit card transactions per cycle**
Premium Checking could be for you! Here are all the disclosures you need to help you make the decision: *Annual Percentage Yield (APY) effective as of October 28, 2024. Interest rate and APY may change after account opening. If you do not meet all criteria for Premium Checking rate, you will receive 0.45% interest/APY rate on balances $2,500 and greater. Amount of $25,000 or more will receive 0.45% interest/APY regardless of meeting criteria. $6 maintenance fee (plus tax) applies if average daily balance drops below $2500. Fees may reduce earnings. Consumer only. One account per SSN. **Per statement cycle. Must post and clear.
Simply Checking- It’s all in the name! Simply Checking has no minimum daily balance requirement, free unlimited check writing and no monthly service charge.
Simply Interest Checking- Start earning interest with Simply Interest Checking! If you keep a minimum daily balance of $1500 or more, this account may be for you.
Club Blue - Go blue by adding Club Blue to your checking account! It's designed exclusively for customers who want more. Club Blue comes with a plethora of added benefits like Club Wallet Checks, Travel and Leisure Discounts, Credit File Monitoring, ID Theft Resolution Services and so much more. Click the Learn More button for more information!
Learn MoreDownload our Deposit Account Application!
Fill out our application, print and bring it by any HCSB location today to start the account opening process.
Checking Account Comparison Chart
| Account | Simply Checking | Simply Interest Checking | Club Blue |
|---|---|---|---|
| Min. Opening Deposit | $100.00 | $1,500.00 | $100.00 |
| Min. Daily Balance | None | $1,500.00 | None |
| Interest Bearing | No | Yes* | |
| Check Images | Yes | Yes | Yes |
| Check Writing | Unlimited | Unlimited | Unlimited |
| Checks Provided | No | No | Yes |
| Monthly Fees | None | $6 monthly maintenance fee if average daily balance drops below the minimum. (plus tax) | $8 per month or $4 per month for LiNK Members (plus tax) |
*The interest rate and annual percentage yield may change after account opening.
HEALTH SAVINGS ACCOUNTS (HSAS)
When it comes to medical expenses, you can never be too prepared. Health Savings Accounts (HSAs) from Hardin County Savings Bank help you save for qualifying medical expenses through tax-exempt contributions while earning interest. Established as a checking account*, it helps bridge the gap to your deductible and maximum out-of-pocket expenses.
HSA QUALIFICATIONS
In order to qualify for an HSA, you must:
- Be covered under a high-deductible health plan (HDHP)
- Not be enrolled in Medicare, AND
- Not be claimed as a dependent on someone else’s tax return.
HSA BENEFITS AND FEATURES
There are several reasons a health savings account is a great financial tool:
- Interest is paid monthly on your account balances, and earnings are completely tax-deferred while they remain in the HSA.
- Your HSA comes with a free debit card, and your first 50 checks are free from us (they will say “Health Savings Account on them for simple record keeping”)
- It’s easy to contribute to your HSA. You can make contributions through automatic transfers, payroll deductions, by mail or in person. Other family members, your employer or any other person can make contributions regardless of your employment status.
- Balances roll over from year to year.
FREQUENTLY ASKED QUESTIONS ABOUT HSAS
HOW MUCH CAN I CONTRIBUTE IN 2024?
Self only - $4150 Catch up amount (age 55+) +$1000 = $5150
Family - $8300 Catch up amount (age 55+) +1000 = $9300
2023 Contribution Limits
Self only - $3850 Catch up amount (age 55+) +$1000 = $4850
Family - $7750 Catch up amount (age 55+) +$1000 = $8750
HOW DO I PAY WITH AN HSA?
By simply using your checks or debit card. Qualifying medical expenses can be paid “out of pocket” and reimbursed from your HSA (consult with your tax or legal professional for guidance).
HOW DO HSA DISTRIBUTIONS WORK?
Distributions from your health savings account are tax-free if they are qualified medical expenses. Tax-free distributions can be taken for the owner of an HSA, the spouse of the owner and dependents of the owner.
In the event the distribution is due to death and beneficiary of the HSA is the spouse of the HSA owner, the spouse becomes the owner of the HSA. If a distribution is for a non-qualifying medical expense, it will be taxed, included in gross income for tax purposes and assessed an additional 20 percent penalty. At age 65, distributions for non-qualifying medical expenses will be taxed as ordinary income without the 20 percent penalty.
Consult with your tax or legal professional for guidance.
DO I LOSE MY HSA WHEN I ENROLL IN MEDICARE?
You can no longer make contributions to your HSA once you enroll in Medicare . You will, however, keep any funds leftover in your HSA to help pay for out-of-pocket health costs, retiree health insurance premiums or Medicare premiums, deductibles and co-payments.
HOW CAN I BE SURE AN EXPENSE IS A “QUALIFIED MEDICAL EXPENSE?”
You must verify it using the IRS’s standards. We recommend you keep all receipts in case the IRS asks you to prove your expenses are qualified.
HOW DO I GET STARTED WITH AN HSA?
Start by talking with your health insurance provider to ensure you are eligible. Then, visit us at our Eldora or Union locations to speak with an HSA Specialist. They will help you find the best approach to how much you want to contribute, when you want to contribute and other ways to fund your account.
For more information on the HCSB Health Savings Plan contact Kathy Balvanz: kathy@hardincsb.com, 641-939-3407.
*All contributions made in any form of electronic payment will be credited for the calendar year in which they are made.