Business Money Market
- Earns a tiered variable rate of interest on a daily balance of $2,500 or more
- $15 monthly minimum balance fee if daily balance falls below $1,000
- 30 free debit or credit items per month
- .20¢ per debit or credit item in excess
Health Savings Account
The constant changes in health insurance plans and their costs can be overwhelming. A Health Savings Account (HSA) in conjunction with a qualified high deductible health plan (HDHP) may be just what you need. A HSA is a tax-exempt account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse and your dependents.
You can use funds in your Northstar Bank HSA to pay for qualified medical expenses until your deductible is met. You are encouraged to consult your tax advisor before opening an HSA. Business owners may contribute to employee's individual account in conjunction with a qualified high deductible insurance plan.
- $1 minimum daily balance to earn a variable rate of interest
- Checkbook/Debit card*
- Each HSA contribution in excess of the current annual limit will result in a $10 fee
CDs
A certificate of deposit at Northstar Bank offers you competitive rates of interest and a guaranteed safe investment.
- Flexible terms from 3 months to 5 years available; minimum $1,000 to open
- Fixed rate options
- Interest compounded and paid monthly, quarterly, semi-annually or annually; minimum balance $1,000 to obtain annual percentage yield
- Automatically renewed at maturity with rate in effect at maturity; notice sent 10 days prior to maturity; terms of 30 days or less renew with a 5 day grace period or terms of 31 days or more renew with a 10 day grace period
- Penalty for early withdrawal
CDARS®/ICS®
Designed to safeguard your investments, CDARS®/ICS® allows you to receive easy access to multimillion in FDIC protection. Northstar Bank is a member of a special network. Funds are diversified with other banks within the IntraFi Network in increments of less than $250,000 – providing complete FDIC protection.
- Enjoy peace of mind - Keep deposits safe with additional FDIC insurance.
- Convenience - Work directly with Northstar Bank. Earn one interest rate and receive one monthly
statement. Individual investors receive one year-end tax form. - Support your community Investment - The full value of your money can support lending opportunities in our local communities.
- Rates - Enjoy local competitive rates.
Funds may be submitted for placement once a depositor enters into a Deposit Placement Agreement with Northstar Bank. The agreement contains important information and conditions regarding the placement of funds by Northstar Bank. CDARS®/ICS® is a registered service mark of IntraFi NetworkSM.
Transaction & Reporting Portal
*Subject to approval.
