| What you will need to open a new account:
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- A U.S. address and Social Security Number
- A driver's license or state ID
- A second form of ID
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| Switch Kit
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Switching to Generations Bank is easy. No matter how many automatic withdrawals or payments you have at your current bank by using our Switch Kit, we can do the heavy lifting of switching banks. Click the link, print the form and make the switch today.
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| Regular Checking
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- Free checking if you maintain an average current balance of $500.00 or more. If your balance falls below this level a $4.00 charge per statement cycle will be imposed.
- $0.15 fee for each debit item in excess of 15 during each statement cycle (items exclude ATM and debit card transactions).
- Free Online Banking & Bill Pay
- Free notary service
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| Now Account
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- Interest paid on account
- $1,000.00 deposit required to open account
- No service charge if you maintain an average current balance of $1,000.00 or more. If your balance falls below this level a $8.00 charge per statement cycle will be imposed
- $0.15 fee for each debit item in excess of 15 during each statement cycle unless your balance is at least $2,500.00(items exclude ATM and debit card transactions).
- Free Online Banking & Bill Pay
- Free notary service
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| Super Now Account
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- Interest paid on account on a tiered basis
- $2,500 deposit required to open account
- No service charge if you maintain an average current balance of $2,500.00 or more. If your balance falls below this level a $8.00 charge per statement cycle will be imposed
- A per debit fee of $.15 will be charged for each debit transaction in excess of 15 during a statement cycle. This fee will not apply if the average current balance is at least $2,500.00. ATM withdrawals and electronic debits are not included in the per debit fee.
- Free online banking & bill pay
- Free notary service
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| First Rate Premium Money Market Account
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- Tiered interest paid on account based on average daily balance
- $2,500 deposit required to open account
- A charge of $10.00 will be imposed each monthly statement cycle if the average balance for the monthly statement cycle falls below $2,500.00
- Federal Regulations limit transactions to 6 "convenient" transactions per month includes: checks, automatic or preauthorized transfers, sweeps, telephone or internet banking
- A fee of $10.00 will be charged for each item over the transaction limit
- Free notary service
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| Student Checking
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This account is the same as our Regular Checking account except all fees are waived for full time students.
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| Sixties Club Checking
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Members must be 60 years or older
Benefits
- Free personalized checks
- No charge for checks written
- Free copies of medical claim use
- On regular checking accounts there will be no monthly service charges on accounts and no per debit transaction fees.
- On NOW checking accounts there will be no per debit transaction fees, but the $8.00 charge will still apply if the average current balance for the monthly statement cycle falls below $1,000.00.
- On Super NOW checking accounts there will be no per debit transaction fees, but the $8.00 charge will still apply if the average current balance for the monthly statement cycle falls below $2,500.00.
- On Money Market checking accounts, there will be no change. All rules still apply.
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| Individual Retirement Accounts (IRA)
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No matter how near or far off your retirement is, the tax advantages of an Individual Retirement Account can be too great to pass up. Using both an IRA and an employer-sponsored plan (such as a 401(k) if you have access to one) provides the opportunity to invest more for your retirement.
Generations Bank offers Traditional IRA’s and Roth IRA’s
Traditional IRA
If you’ve earned income and are younger than age 70½, a Traditional IRA may be right for you.
- Immediate tax advantages; contributions may be tax-deductible and earnings remain invested tax-deferred
- Taxes are due at the time of distribution/withdrawal
- No maximum income limits for eligibility
Roth IRA
If you’ve earned income below a certain threshold set by the IRS, a Roth IRA may be right for you.
- Though contributions are made after-tax, earnings remain invested tax-free
- Withdrawals are tax-free in retirement; there is no tax on qualified distributions after age 59½
- May be more appropriate for those with growing income potential (who may be taxed at a lower rate now versus in retirement)
When Leaving an Employer
If you're changing jobs or retiring, be sure to consider the assets you've accumulated in your employer-sponsored plan, such as a 401(k) plan.
There are four different actions you can take with assets invested via a previous employer’s retirement plan. These include leaving the assets where they are, moving the assets to a new employer’s plan, cashing out, and rolling the assets over to a Traditional or Roth Individual Retirement Account (IRA). Contact Generations Bank at 402-266-5931 and we can help guide you through this process.
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| Health Savings Account
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A Generations Bank Health Savings Account (HSA) will help you save for qualified medical expenses on a tax free basis.
HSA's work like an Individual Retirement Account for healthcare. Contributions and interest are tax free. An HSA works like a checking account that earns interest and can only be used for health care expenses.
- Interest paid on account
- $100.00 required to open account
- Two (2) Free debit cards
- Monthly bank statements
- Proper reporting to the IRS
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| Savings Account
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- Interest paid on account
- $20.00 deposit required to open account
- A debit fee of $.50 will be charged for each debit in excess of 15 per statement cycle
- Federal Regulations limit transactions to 6 "convenient" transactions per month. These transactions include: checks, automatic or preauthorized transfers, sweeps, telephone or internet banking.
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| Mobile Banking
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Our Mobile Banking application allows you to access your account information and make payments or transfers from the convenience of your mobile device. There is no need to wait until you are at your computer. Mobile Banking is a secure and convenient way to access your accounts, and saves you time to do the things that are more important to you.
- View your most recent transactions
- Transfer funds between accounts
- Transfer funds to make a loan payment
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| Consumer Loans
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Generations Bank offers auto loans, home equity loans, and personal loans, all with very competitive rates. We also provide credit life* and disability insurance** for those who want extra protection. Generations Bank's experienced loan staff would be glad to visit with you about your consumer needs. We take pride in providing a quick response on all loan requests.
*Insurance products are:
- Not a deposit
- Not FDIC Insured
- Not insured by any Federal Government Agency
- Not guaranteed by the bank
- May go down in value
Real Estate Loans
Generations Bank offers a full range of real estate loans including home purchase, home refinance, home construction, lot purchases, land development and home equity loans. We have several lending options for your consideration.
Secondary Market Housing
Generations Bank offers fixed rate long-term home loans. Current rates are at their lowest in 40 years so now is a good time to take advantage of these super low rates. We also have access to first time home-buyer down payment assistance to those who qualify.
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