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STAR Electronic Savings Account*

Get convenient access to your money and earn interest while your money grows! This account is available to sole proprietorship or non-profit organizations.

  • Minimum of $10 to open
  • $10 minimum balance to earn a variable rate of interest; compounded and paid quarterly


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. Business owners may contribute to employee's individual account in conjunction with a qualified high deductible insurance plan.

  • Minimum of $10 to open
  • $1 minimum daily balance to earn a variable rate of interest; compounded and paid monthly
  • Checkbook/StarCheck 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 7 days 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®

Designed to safeguard your investments, CDARS® allows you to receive up to $50 million 

in FDIC protection. Northstar Bank is a member of a special network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network in increments of less than $250,000 - so that both your principal and interest are eligible for complete FDIC protection. These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of deposit available for community lending purposes.

  • Safety - Receive up to $50 million in FDIC insurance coverage
  • Convenience - Work directly with Northstar Bank. Earn one interest rate and receive one regular statement. Individual investors receive one year-end tax form.
  • Community Investment - The full value of your money can support lending opportunities in our local communities
  • Rates - Your money earns CD-level returns
  • Minimum to Open: $250,000

Funds may be submitted for placement only after a depositor enters into the CDARS® Deposit Placement Agreement with Northstar Bank. The agreement contains important information and conditions regarding the placement of funds by Northstar Bank. This benefit applies to some, but not all types of CDARS® transactions. CDARS® is a registered service mark of Promontory Interfinancial Network, LLC.






*Maximum of 6 transfers or withdrawals per month to another account of yours or to a third party by means of a pre-authorized, automatic computer or telephonic transfer or by check, debit card or similar order to a third party. $10 fee will be imposed for each withdrawal or transfer in excess.

**Subject to approval.

^If withdrawn after age 59 ½ and the account has been open for 5 years or more (begins with tax year of the first contribution).

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