Jump to a section:

Statement Savings

A savings account for everyone! 

  • Minimum to open: $10
  • When your average daily balance is at least $100, there is no monthly fee 
  • When your average daily balance falls below $100, there’s a monthly fee of $1*
  • Access it through Online and Mobile Banking app**
  • Free monthly eStatements

Everyone can start saving with the Statement Savings Account. The more you keep in the account, the more your money grows! If you’re just starting out, this may be your ideal account. It keeps things simple and allows you to start saving immediately. 

If you’re looking to maintain a balance of at least $10,000, you’ll want to check out our Money Market Accounts. 

As of 3/19/2024

BalanceAnnual Percentage Yield (APY)*Interest Rate
under $25,0000.05%0.05%
$25,000 to $49,9990.10%0.10%
$50,000 to $99,9990.15%0.15%
$100,000 or more0.25%0.25%

*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

*Other fees and restrictions may apply

**Message and data rates may apply

Select Money Market

Ready for more? Enjoy a higher interest rate with the Select Money Market savings account.

  • Minimum to open: $10,000
  • Free to set up*
  • When your average daily balance is at least $10,000, there is no monthly fee
  • When your average daily balance falls below $10,000, there’s a monthly fee of $10
  • Free Online Banking and Mobile Banking app**
  • Free monthly eStatements
  • Receive a debit card

Savings accounts can do more than store money for special purchases — they’re part of a wealth-building strategy. The Select Money Market account is a step in that direction. When you’re able to save at least $10,000, this may be your best choice.

Unlike a basic savings account, a money market account offers the best of both worlds: higher interest rates and easy access to your money. You earn a more competitive interest rate compared to a regular savings account, meaning your savings works harder for you.

Whether you’re saving for a dream vacation, a down payment on a home, or simply building a rainy-day fund, a Select Money Market account is a trusted tool in building a more financially secure future.

As of 3/19/2024

Annual Percentage Yield (APY)*Interest Rate

Balances under $25,000 – 0.05%; Balances $25,000 to $99,999 – 0.20%;

Balances of $100,000 or more – 0.40%

Balances under $25,000 – 0.05%; Balances $25,000 to $99,999 – 0.20%;

Balances of $100,000 or more – 0.40%

*Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

*Other fees and restrictions may apply

**Message and data rates may apply

Health Savings Account

Did you know you can choose Warsaw Federal for your Health Savings Account (HSA)? You can! 

  • Minimum to open: $50
  • Set up is $10
  • No monthly service charge
  • View it through Online and Mobile Banking 
  • Free monthly eStatements
  • Use to pay qualified medical expenses
  • Receive a debit/ATM card

Good News! If you have qualifying high-deductible health insurance coverage, you’re eligible for a HSA. You can open your account with us and enjoy both competitive rates and the mutual bank difference.

Opening a health saving account can be one of the wisest financial decisions you make. The money in the account bears interest, and you can withdraw funds at any time for qualified medical expenses. Plus, qualified contributions are generally tax-deductible. That means you can grow your savings tax-free.

As a mutual bank, we reinvest your funds to support our local communities. It’s banking with a purpose. 

Contact us today to learn more about our HSA option.

As of 3/19/2024

Annual Percentage Yield (APY)*Interest Rate

Balances under $25,000 – 0.25%; Balance $25,000 to $49,999- 0.35%;

Balances of $50,000 or more 0.50%

Balances under $25,000 – 0.25%; Balance $25,000 to $49,999- 0.35%;

Balances of $50,000 or more 0.50%;

Statement Savings

Select Money Market

Health Savings

Minimum Opening Balance$50$10,000$50
Monthly Service Charge$0 with average daily balance of $100; otherwise $1$0 with average daily balance of $10,000; otherwise $10None
Setup Fee$10
Interest BearingYesYesYes
Debit/ATM CardYesYesYes
Online BankingYesYesView Only
eStatementsYesYesYes
Online Bill PayYesYesView Only
Mobile BankingYesYes
APY*Balances under $25,000 – 0.05%; Balances $25,000 to $49,999- 0.10%; Balances of $50,000 to $99,999- 0.15%;Balances of $100,000 or more- 0.25%Balances under $25,000 – 0.05%; Balances $25,000 to $99,999 – 0.20%; Balances of $100,000 or more – 0.40%Balances under $25,000 – 0.25%; Balance $25,000 to $49,999- 0.35%; Balances of $50,000 or more 0.50%
Interest Rate*Balances under $25,000 – 0.05%; Balances $25,000 to $49,999- 0.10%; Balances of $50,000 to $99,999- 0.15%;Balances of $100,000 or more- 0.25%Balances under $25,000 – 0.05%; Balances $25,000 to $99,999 – 0.20%; Balances of $100,000 or more – 0.40%Balances under $25,000 – 0.25%; Balance $25,000 to $49,999- 0.35%; Balances of $50,000 or more 0.50%;

    *Interest rates and Annual Percentage Yield (APY) are subject to change. Fees could reduce earnings.

    Banking On the Go 

    Have you checked out our upgraded Online and Mobile Banking services? Banking on the go is more convenient and secure than ever.

    Meeting Your Financial Needs

    Now is the time to invest in a Certificate of Deposit.

    Pair an interest bearing account with a Certificate of Deposit and watch your balance take off. By investing in your future, you invest in your community. It’s the mutual bank difference.

    Automate Your Savings With a DirectSave CD

    Pair an interest-bearing account with our DirectSave CD and watch your balance take off. By investing in your future, you invest in your community. It’s the mutual bank difference.

    Save with Confidence

    Want to learn more? We have articles, videos and resources to help you save with confidence.

    What Your Credit Score Means

    Whether you are applying for a mortgage, car or personal loan, your lender will want to know one number: your three-digit credit score. This number has become perhaps the most…

    Balancing a Checking Account

    It’s tempting when you pay so many of your bills online to skip on balancing your paper checkbook. After all, balancing the checkbook is no one’s idea of a good…

    Understanding Your Credit Report

    Your credit reports are important documents. They list your open credit-card accounts, loan balances and financial missteps. Reviewing these reports on a regular basis is a smart financial decision. After…

    Use Direct Deposit to Build Savings

    Why doesn’t your savings account grow? It could be a simple matter of how you allocate your regular paycheck. What happens every time you receive your paycheck? If your employer…

    Why Budgets Fail

    You finally committed to making a household budget, listing your monthly expenses and revenue streams. However, at the end of each month you find that you’ve overspent on going to…

    Finding the Right Checking Account for You

    You have to make a lot of financial decisions in your life. How much money should you deposit in your 401(k) plan every two weeks? Should you apply for a…

    Understanding Your Debt Load

    Before applying for a mortgage, car or personal loan, you need to know if you earn enough income every month to pay back your new debt. Fortunately, there is an…