a mother and daughter playing in a tent

Savings, CDs & Money Market

Save for your future

Select from a variety of savings options, all with the security of FDIC insurance.

Elite Money Market Account

Earn competitive interest with convenient access to your money.
 
  • FDIC insured safety up to $250,000 (for deposits of more than $250,000, check out our CDARS program)
  • FREE electronic banking – Includes online banking, mobile banking, mobile deposit, online bill payments, Apple Pay, Google Pay, Samsung Pay, MasterPass, eStatements2 and 24-hour telephone banking
  • FREE ATM use at any Hawthorn ATM and hundreds of ULTRA ATMs
  • Up to 6 withdrawals per statement cycle
  • Open your account with $1,500 or more
  • $20 monthly service charge is waived when you keep a balance of $10,000 or more



Money Market Account

Earn interest with FDIC insured safety and still have convenient access to your money.
 
  • FDIC insured safety up to $250,000 (for deposits of more than $250,000, check out our CDARS program)
  • FREE electronic banking – Includes online banking, mobile banking, mobile deposit, online bill payments, Apple Pay, Google Pay, Samsung Pay, MasterPass, eStatements2 and 24-hour telephone banking
  • FREE ATM use at any Hawthorn ATM and hundreds of ULTRA ATMs
  • Up to 6 withdrawals per statement cycle
  • Open your account with $1,500 or more
  • $10 monthly service charge is waived when you keep a balance of $1,500 or more



Savings Accounts


Our savings accounts offer the safety, performance and flexibility to help you reach your long-term goals.

 

Relationship Savings Account

Earn premium rates on your savings, while keeping funds within reach! This low-transaction companion account is available when you open a new Hawthorn Bank CD.

  • Now paying 1.90% APY on balances1
  • The initial deposit to open must match your new CD deposit. No additional deposits are allowed on this account. This account must be opened or funded the same day as the associated CD.
  • FREE online banking and mobile banking, eStatements2 and 24-hour telephone banking
  • FREE ATM use at any Hawthorn ATM and hundreds of ULTRA ATMs
  • No monthly service fee
  • Open your account with $1,000 or more
  • $1.00 excess debit fee for withdrawals above 3 per month
  • $3.00 monthly paper statement fee is eliminated when you opt in for electronic statements.2
 

Personal Savings Account

Earn interest on the money you set aside, while keeping it within easy reach.

  • FREE electronic banking – Includes online banking, mobile banking, free mobile deposit, online bill payments, Apple Pay, Google Pay, Samsung Pay, MasterPass, eStatements2 and 24-hour telephone banking
  • FREE ATM use at any Hawthorn ATM and hundreds of ULTRA ATMs
  • Open your account with $100 or more
  • $3.00 monthly service charge is waived when you keep a balance of $200 or more
  • $1.00 excess debit fee for withdrawals above 3 per month
  • $3.00 monthly paper statement fee is eliminated when you opt in for electronic statements


 

Holiday Savings Account

Save for a very special holiday, without adding credit card debt.



More Savings Account

To earn higher interest on your savings, ask a banker about setting up a More Savings Account, with automatic transfers from a Value Checking Account. Additional terms and conditions apply; ask your banker for details.



 

Youth Savings Account

This account provides an easy way for anyone under age 23 to save for the future.  For more information on Youth, Holiday or More Savings accounts, call or come in.

 

Health Savings Account (HSA)

This account can help you save for qualifying medical expenses if you have a qualified High Deductible Health Plan (HDHP).3 The HSA not only helps you pay for qualifying out-of-pocket medical expenses, it can also help with retirement planning.

A Hawthorn Bank HSA can be an important part of your overall financial plan and offers you these important benefits:

  • Similar to an IRA, in that the money you contribute grows tax-free over time.
  • Your HSA contributions may be tax deductible.3
  • Unused balances can be carried over from year-to-year.
  • Withdrawals used to pay for qualified medical expenses are tax-free.  
How much will your HSA be worth over time?


 

CDs

Our Certificate of Deposit (CD) terms range from three months to five years, all with competitive rates, guaranteed performance and FDIC insured safety up to $250,000. For deposits of more than $250,000, check out our CDARS program.


23-Month CD Special

  • Now paying 2.50% APY1 on $10,000 or more
  • FDIC insured safety up to $250,000 (for deposits of more than $250,000, check out our CDARS program)
  • $10,000 minimum opening deposit
  • Penalty will be imposed for early withdrawal

10-month CD Special

  • Now paying 2.35% APY1 on $10,000 or more
  • FDIC insured safety up to $250,000 (for deposits of more than $250,000, check out our CDARS program)
  • $10,000 minimum opening deposit
  • Penalty will be imposed for early withdrawal

Use these calculators to see how your savings will increase.

Certificate of Deposit Calculator
Determine how much interest you can earn on a CD.

CD Ladder Calculator
Could you benefit from investing in a series of CDs with different maturities?



CDARS

More safety for more than $250,000 in deposits

Through the CDARS program, enjoy the safety of FDIC insurance even on deposits of more than $250,000, while you earn competitive CD interest with a trusted local source. Contact us today about CDARS.


IRAs

Our Individual Retirement Accounts (IRAs) are a safe, secure, tax-advantaged way to save for retirement. Your savings will earn consistent returns without the risks of the stock market, and will be FDIC insured up to $250,000. 

At Hawthorn Bank, IRAs are placed in CDs with terms of one year or longer. Additional contributions may be made to the Hawthorn 18-month IRA CD. Early withdrawal penalty may be assessed.

Depending on your income, your contributions to a Traditional IRA may help reduce your current income taxes, and you’ll pay no income taxes on your account until money is withdrawn, for faster account growth.3

If you choose a Roth IRA, you won’t get a tax break on your contributions, but your money will grow tax-deferred, qualified withdrawals during your retirement years are tax-free, and there are no required minimum distributions after age 70-1/2, as with a Traditional IRA.3

Use these calculators to explore both Roth and Traditional IRAs, or call or visit our nearest branch and we’ll discuss the best approach for you.

Roth IRA Calculator
Which type of IRA is right for you?

Traditional IRA Calculator
How much can contributing to a regular IRA help you in retirement? 

Roth IRA Conversion Calculator
Does it make sense to convert your Traditional IRA to a Roth IRA?

1 Annual Percentage Yield (APY) accurate as of November 26, 2018. Rates may change at any time. Fees may reduce earnings.
2 In order to avoid a $3.00 paper statement fee, you must enroll in online banking, opt in for eStatements and maintain an active online banking enrollment. An active online banking enrollment is maintained by logging into your online or mobile banking account at least once every 120 days. If requirements are not met, you will automatically receive paper statements and your account will be charged $3.00 per month.
3 For more information concerning eligibility, tax deductibility and other important issues, please consult your tax advisor.