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STAR Electronic Savings Account*

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

 

STAR Personal Money Market*

  • Minimum of $10 to open
  • Tiered, variable rates of interest earned on daily balances; compounded and paid monthly
  • Limited check writing available
  • $6 monthly service charge fee if account balance falls below $1,000 


Health Savings Accounts

  • 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
  • Each contribution in excess of the current annual limit will result in a $10 fee


Christmas Club*

  • Minimum of $1 to open
  • $10 minimum balance to earn a variable rate of interest; compounded annually and paid at disbursement
  • Free automated transfer from Northstar Bank account
  • $10 fee assessed for each withdrawal
  • Disbursement of funds occurs annually the second Tuesday in October


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 of $1,000 to open
  • Fixed rate options
  • Interest compounded and paid monthly, quarterly, semi-annually or annually; minimum balance of $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 imposed for early withdrawal


IRAs

IRAs are one of the safest investments you can make - save for today and for your future. 


Traditional IRA

  • Earnings grow tax-deferred until you withdraw the funds after age 59 1/2. Then, the earnings are taxed at the then-current tax rate
  • Get started with as little as $1,000
  • Contributions may be tax deductible (Age and income govern eligibility. Consult your tax advisor to determine if you qualify for any tax deductions) 
  • Earnings are tax-deferred, so your investments can compound faster 
  • Pay no taxes on earnings until money is withdrawn 
  • Safe deposit account that can preserve and grow funds at a guaranteed rate of return 


Roth IRA

  • Contributions are made with after-tax dollars 
  • Earnings grow tax-free** 
  • Contributions (not earnings) can be withdrawn at any time 
  • Tax-free distribution at retirement** 
  • Income requirements govern eligibility 
  • Leave your money in as long as you want (no minimum distributions) 
  • Safe deposit account that can preserve and grow funds at a guaranteed rate of return 


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 preauthorized, 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.

**If withdrawn after age 59½ and the account has been open for 5 years or more (begins with tax year of the first contribution).

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