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Power Savings

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Power Savings

Empower your savings with our Power Savings account. You’ll earn a higher rate of interest when linked to your Power Checking account and the Power Checking Qualifications are met each month.

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Standard Features

Features 
Minimum balance to open$100
Minimum daily balanceNone
Monthly Service charge$0
Earns interest1,2Yes - tiered
Withdrawal/transfer availability36 no fee, then $10 per statement cycle
Electronic statementsNo fee
Paper statementsNo fee
Online and mobile bankingNo fee, message and data rates may apply
ATM card availableYes, $5 initial set up fee, $1 monthly
Withdrawals from MidWestOne ATMsNo fee
Withdrawals from non-MidWestOne ATMs$1/withdrawal
Other FeaturesInterest from the linked Power Checking will transfer to Power Savings each month.

Power Checking ATM refunds will post directly to Power Savings after Power Checking Qualifications are met.

 

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1Daily Balance Method used to calculate interest on account. This method applies a daily periodic rate to the principal balance in the account each day.

2Interest rates are variable and subject to change at the bank’s discretion at any time. The annual percentage yield may vary due to the interest rate changes and fees. Please refer to our Deposit Rates for current interest rates.

3Transfers from these accounts to another account or to a third party by preauthorized, automatic, online or telephone transfer, by check or similar order are limited to six per calendar month. If these transaction limitations are exceeded three times in a 12-month period, the account will be closed or converted to another type of transaction account allowing unlimited third-party transfers. There is a $10 service charge for each monthly statement cycle for excess activity of more than six withdrawals/transfers  per statement cycle.