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Contact our customer service department at (309) 526-8011, or stop by any one of our seven locations. Our friendly staff can help you choose!

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Personal Savings Accounts

Christmas Club

  • Open this account any time of year with $1.00
  • Automatic payments available on a weekly, bi-weekly or monthly schedule
  • Earns interest
  • Checks mailed in October
  • Click here for rates

Money Market Accounts

  • Minimum Opening Balance: $2,500
  • Unlimited Deposits: YES
  • VISA® Debit Cards: Not Available
  • Free Online Banking & E-Statements: YES
    •  Secure access to balances & transactions
    • Imaged deposits
    • 21 months of statement history
    • Transfer funds & make loan payments
  • Electronic Bill Pay: NO
  • Zero-to-Low Service Fees
    • An average daily balance of $100 avoids a $5 service fee.
    • During any statement cycle, if the average daily balance is at least $100 but less than $250, the account will be subject to a $4 service fee.
  • Withdrawals
    • Limit of six (6) withdrawals or transfers per monthly statement cycle.
    • During any monthly statement cycle, if the debits exceed six (6), the account will be charged $5 per debit.*

* Please refer to the account Truth in Savings for applicable debit details.

Statement Savings

  • Minimum Opening Balance: $1.00
  • Unlimited Deposits: YES
  • VISA® Debit Cards: Not Available
  • Free Online Banking & E-Statements: YES
    •  Secure access to balances & transactions
    • Imaged deposits
    • 21 months of statement history
    • Transfer funds & make loan payments
    Electronic Bill Pay: NO
  • Zero-to-Low Service Fees
    • An average daily balance of $100 avoids a $5 service fee.
    • Limit of six (6) withdrawals or transfers per calendar month
    • During any quarterly statement cycle, if the account falls below the average daily balance of $100 and also exceeds thirteen (13) debits, the account will be charged $1 per debit

Certificate of Deposit

  • Competitive rates and flexible terms
  • Bonus rates available with an investment of $25,000 or more
  • Click here for rates

New Year CD Special - 2018

  • 2.018% Interest Rate for 48 Months
  • 2.03% APY*, APY = Annual Percentage Yield. APY accurate as of 01-14-2018.
  • Effective beginning January 14, 2018.
  • Interest compounded semiannually. $1,000.00 minimum opening deposit unless Individual Retirement Account (IRA). IRA’s eligible with $500.00 minimum opening deposit. The maximum balance on this account is $50,000.00. Limited time offer. Limit one per household. Not available for institutional funds. A penalty may be assessed for early withdrawal. Fees could reduce earnings.

Sprout Savers Certificate of Deposit

  • Minimum $20 deposit to open*
  • Certificate available in 12, 24 or 36 month terms.
  • Automatically renewable
  • Gift receipt available
*Deposits in increments of $20.
Must have an adult joint owner. Two signatures required for withdrawal. Three Sprout Savers Certificates of Deposits per minor. Redeemable with no penalty within 10 days of each maturity or any time after the minor reaches 18. Maximum balance $10,000.

Health Savings Accounts

A health Savings Account is a tax exempt or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses for you, your spouse or your dependents. Qualified medical expenses can be paid directly from your health Savings account with a BankORION HSA VISA® Debit Card.

To find out if you are eligible for a Health Savings Account and HSA Debit VISA® Debit card contact customer service at (877) 526-8011.

What is an HSA?

HSAs were established to provide people covered by a high deductible health plan (HDHP) with a tax-free way to save for current and future healthcare expenses.

In addition to providing a tax-free way to save for medical expenses, HSAs give account holders more control over how their health care dollars are spent. HSAs can also provide security for those concerned about saving for healthcare expenses in retirement.

Eligibility Requirements

To be eligible for an HSA, regardless of your income...

  • You must be covered by a health plan with a minimum deductible of $1,300 for individuals or $2,600 for families*
  • Your annual out-of-pocket expenses (including deductible and co-pays) cannot exceed $6,450 for individuals or $12,900 for families.*
  • You cannot have any other health medical coverage that is not a HDHP.
  • You cannot be enrolled in Medicare.
  • You cannot be claimed as a dependent on someone else's tax return.

Determining Your Contribution

You may make a contribution to your HSA each year that you are eligible. You may contribute up to the amount of your deductible, but no more than $3,350 for individual coverage or $6,650 for family coverage.*

Individuals age 55 and older can also make additional catch-up contributions in the amount of $1,000.

HSA Contributions

You may generally contribute the full amount allowed for the year regardless of when you became eligible during the year. If you become ineligible within 12 months, you will be required to pay income tax on the portion of your contribution that would have been disallowed under the previous rule, as well as a penalty tax.

Also, if you have more than one HSA or have made contributions to an Archer Medical Savings Account, your total contributions to all the accounts cannot be more than the limits discussed previously. Similarly, if your employer contributes funds to your HSA, you must reduce your contributions by the amount your employer contributed.

Using Your HSA

You may use money in the account to pay for any qualified medical expenses permitted under federal tax law. This includes most medical care and services, dental and vision care, and over- the-counter medicines with a prescription.

You may use the money in the account to pay for medical expenses for yourself, your spouse, or your dependent children. You may pay for expenses of your spouse and dependent children even if they are not covered by your HDHP.

Any amounts used for purposes other than to pay for qualified medical expenses are taxable as income and subject to an additional 20% tax penalty.

After you turn 65, or if you become disabled, the 20% additional tax penalty no longer applies.

Funds remaining in your HSA, that are not withdrawn to pay for qualified medical expenses, will continue to grow over time.

How much is deductible from my taxes?

You are generally permitted to deduct the full amount of your contributions to your HSA. If your employer makes contributions to your account they will be excluded from your income and therefore may not be deducted.

If I die, what happens to my HSA?

You will be asked to designate a beneficiary when you set up your HSA. If your spouse is the designated beneficiary, then the HSA will be treated as your spouse's after your death. If you designated anyone other than your spouse as the beneficiary, then after your death the account will no longer be an HSA and the beneficiary will be taxed based on the account's fair market value in the year of your death. If your estate is the beneficiary, then the value of the account will be included on your final income tax return.

What is the deadline for opening an HSA?

You may open or fund your HSA any time during the tax year until your federal tax return is due. Normally this is April 15 of the following year, excluding extensions.

Why Choose a BankORION HSA?

There is no better place to have your HSA than with BankORION.

  • We are separate from your employer and insurance company, so you can change jobs or insurance plans without changing your HSA. This gives you greater flexibility for your future and keeps things simple for you.
  • Our HSA has all the features, convenience and control you expect. It is easy to open and easy to use.
  • You have several deposit options, including direct deposit from your paycheck, auto transfer from another account, lobby and drive-up tellers, or Internet/Mobile transfers.
  • Pay qualified medical expenses by cash, check or HSA Mastercard ATM/Debit Card.
  • Receive monthly account statements or check your account activity through Internet/Mobile Banking.
  • You will receive year-end tax information for completing your taxes and determining your tax deduction.
  • Our HSA is FDIC-insured.

HSA Features

  1. No setup fee
  2. No annual fee.
  3. Minimum balance to open: $1.00
  4. Minimum balance required to avoid service charge: $100
  5. FREE VISA® ATM/Debit Card.
  6. FREE monthly E-Statements.
  7. Internet/Mobile Banking access to review account activity.

BankORION is not responsible for the determination of your allowable HSA contributions or whether you have "qualified medical expenses." Determining your eligibility to establish an HSA and your allowable contributions and distributions may require the guidance of a tax or legal professional.

Get Started Today

If you want greater control over your money, health and future, consider a Health Savings Account. Call or stop by today to learn more about our HSA.

For More Information About HSA

Additional information about HSAs can be found on the U.S. Treasury website: www.treasury.gov (type "Health Savings Accounts" in the search box). Or visit the IRS website (www.irs.gov) and access Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans) and/or the Instructions for Form 8889 (Health Savings Accounts).

Individual Retirement Accounts

Vacation Club

Your Vacation Savings Plan

  • Save for your next great adventure and open a BankORION Vacation Club
  • Choose from one of two payout dates June and January.
  • Interest is credited at your account maturity.

Contact a BankORION representative for additional details.