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INVESTMENT ACCOUNTS – Click here for rates.

UNITED INVESTMENT ACCOUNT
This is a high yield, no fee account for customers who carry a significant balance and need limited check writing privileges.

• Earn interest on a minimum balance of $20,000.00
• Interest paid monthly
• Allows six transfers per month, three of which can be as a check
• First 50 checks are compliments of United Bank of Iowa

 

CERTIFICATES OF DEPOSIT
Certificates of Deposit offer many options for short and long term saving with a range of terms and rates. Be sure to check out our CD Special.

Benefits:

• Minimum opening balance of $500.00
• Interest rates are tiered to offer higher rates for larger balance accounts
• Flexible terms of 32 days to 5 years
• Interest paid one of the following ways:
  • Compounded (interest added to the CD)
  • Deposited directly to a checking or savings account
• Automatically renewable feature provides the flexibility to renew at the current annual percentage yield while saving you a trip to the bank.
• You will receive a pre-notice approximately 10 days prior to the maturity date of the certificate allowing you sufficient time to think about any changes you might wish to make to your investment.
• You have a 10 day grace period following the maturity date to make any desired changes. Interest will be paid for the first seven days of the 10 day grace period.
• Penalty for early withdrawal

 

INDIVIDUAL RETIREMENT ACCOUNTS
United Bank of Iowa believes that saving for retirement is one the most important financial tasks you will ever undertake. The right savings plan provides a secure financial future. We offer IRA, SEP, SIMPLE, ROTH, Coverdell Education Savings Account and the Health Savings Account.

Only for 2010: If you make a conversion in 2010, you can elect to include 50% of the conversion amount in income for income tax purposes in 2011, and the other 50% in 2012.  No taxes will be owing in 2010 for conversions made in 2010.  You do not have to use this option.  If you desire, you may include all of a 2010 conversion amount in your income for 2010.  You may want to discuss this with your tax preparer.

Traditional IRA: Individual Retirement Account

• No fees
• Earned income required to be eligible to deposit (income limitations)
• Tax deferred interest until withdrawn
• Contributions may be tax deductible
• Contributions cannot be made for the year you attain 70 1/2 years of age
• Variable and Fixed investment options available
• Mandatory distributions upon attaining 70 1/2 years of age are penalty free
• FDIC insurance coverage applies

SEP-IRA: Self Employed Pension Plan

• No fees
• Earned income required to be eligible to deposit (income limitations)
• Tax deferred interest until withdrawn
• Contributions are tax deductible
• Contributions can be made after attaining age 70 1/2 if still have earned income
• Variable and Fixed investment options available
• Mandatory distributions upon attaining 70 1/2 years of age are penalty free
• FDIC insurance coverage applies

ROTH IRA: Individual Retirement Account

• No fees
• Earned income required to be eligible to deposit (income limitations)
• Tax free interest after a five year holding requirement and
  1. After you have attained 59 1/2, or
  2. After you have become disabled, or
  3. First-time home purchase (limitation), or
  4. To your beneficiary after your death
• Contributions are not tax deductible
• Contributions can be made after attaining age 70 1/2 if still have earned income
• Variable and Fixed investment options available
• FDIC insurance coverage applies

SIMPLE IRA: Savings Incentive Match Plan for Employees of Small Employers

• No fees
• Must have earned income to be eligible to deposit (income limitations)
• Tax deferred interest until withdrawn
• Contributions can be made after attaining age 70 1/2 if still have earned income
• Employer sponsored pension plan with 100 or fewer employees
• Employees deduct a percentage from each paycheck to be put into a SIMPLE IRA for themselves
• Variable and Fixed investment options available
• Mandatory distributions upon attaining 70 1/2 years of age
• FDIC insurance coverage applies

Coverdell Education Savings Account

• No fees
• Earned income is not required, however, income limitations will apply to the depositor
• Contributions are not tax deductible
• Contributions must stop at students' 18th birthday (except for special needs students)
• Withdrawals are tax free when used for qualified education expenses
• Withdrawals must be made by students' 30th birthday (except for special needs students)
• Variable and Fixed investment options available
• FDIC insurance coverage applies

Health Savings Account (HSA)

An HSA is a tax-exempt trust or custodial account established for the purpose of paying medical expenses in conjunction with a high-deductible health care plan.  The HSA was created to give people a tax incentive to save for future health and retirement needs.  It is primarily used to accumulate funds to pay health expenses on a tax-preferred basis, however, it can also be used to accumulate wealth on a tax-preferred basis, if funds are not needed to pay for health care.

• No set up fees
• No income limits
• No compensation requirement
• No minimum balance requirement
• Check writing privileges
• First 50 checks free
• Debit card - optional
• View HSA statements on Internet Banking
• Variable interest rate options are available
• For balances in excess of your policies' deductible, an HSA Investment Account with higher tiered rates and $1,000 minimum balance is also available
• Contact Your local UBI office for additional information