Bradford National Bank

Personal Banking Services

Bradford National Bank offers a variety of checking and savings programs designed to meet individual needs. From Checking Accounts to IRAs, Bradford National Bank is here to help you meet your goals. What can we help you with today?

Click here for information on Overdraft Coverage Options

Personal Checking

Bradford National Bank offers a variety of checking account options, based on your individual needs.

Real Community Bank Club Checking

Club Checking with many benefits. The best checking program in the area.  Stop by and ask our Customer Service Representatives for details on this unique program.

Regular Checking

No monthly service or item fees when a $150 minimum balance is maintained.  Check images returned with your monthly statement.  No minimum balance required for seniors 60+

Free Checking

This account requires no minimum balance, no per check charge and no monthly fee. Cancelled checks are held for six month in-house.  $100 minimum to open.

NOW Account

This is a variable rate, interest bearing checking account with a $1,000 minimum balance required to open and a $500 minimum balance to earn interest.

Rate: .05%
Annual Percentage Yield (APY):  .05%

Plus, with any Bradford National Bank checking account, you can also sign up for:

Free Internet Banking
Free Bill Pay
Mobile Banking including Mobile Deposit
PopMoney
Debit/Check Card or
ATM Card

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

Savings Accounts

Bradford National Bank offers a variety of savings account options, based on your individual needs.

Savings Account

  •  A savings account with interest compounded daily and paid quarterly
  • Minimum balance of $100 required to avoid a $1 monthly fee. (Under 18 exempt)
  • Up to eight withdrawals per month are permitted without a fee (Telebank, Internet Banking, auto-debit loan payments and safe deposit box payments are excluded from the transaction count).
  • You may apply for an ATM card for savings only accounts

Rate: .25%
Annual Percentage Yield (APY): .25%

There is NO MINIMUM balance required. Interest is paid quarterly and there must be a balance in the account on the date interest is paid. Variable rate. Rates subject to change after account is opened.

Money Market Savings Account

A variable rate savings plan based on deposit size…

  • This is a modified version of a savings account – the more you save, the more interest you earn.
  • A statement showing interest earned from the previous month will be mailed or held at the customer’s request on the first of the month.
  • A notice of current interest rate will be included in the statement.
  • No interest will be paid if you fall below the required minimum balance of $2,500.
  • $5 fee assessed if balance below $1,000.

Rate: .20%
Annual Percentage Yield (APY): .20%
Balance $2,500 – $9,999

Rate: .25%
Annual Percentage Yield (APY): .25%
Balance $10,000 – $24,999

Rate: .30%
Annual Percentage Yield (APY): .30%
Balance $25,000 – $49,999

Rate: .35%
Annual Percentage Yield (APY): .35%
Balance $50,000 and over

No passbook is required for deposits and withdrawals. Variable rate. Rates subject to change after account is opened.

Premier Money Market Savings Account

A variable rate savings plan for higher balances based on deposit size…

  • This is a modified version of a savings account for higher balances – the more you save, the more interest you earn.
  • This account requires a $10,000 minimum balance to earn the stated APY.
  • Minimum balance of $10,000 required to avoid $10 monthly fee.
  • Premier MM Checks are available

Rate: .25%
Annual Percentage Yield (APY): .25%
Balance $10,000-$49,999.99

Rate: .60%
Annual Percentage Yield (APY): .60%
Balance $50,000-$99,999.99

Rate: .95%
Annual Percentage Yield (APY): .95%
Balance $100,000-$249,999.99

Rate: 1.35%
Annual Percentage Yield (APY): 1.36%
Balance $250,000-$499,999.99

Rate: 1.55%
Annual Percentage Yield (APY): 1.56%
Balance $500,000.00 and up

You must maintain a minimum average daily balance of $10,000 in your account to earn the disclosed interest rate. If your balance falls below $10,000, your account will be subject to a $10 service charge. Limit of six withdrawals per month (three of which may be by check). Excess withdrawals are $10 each. Variable rate. Rates subject to change after account is opened.

Christmas Club Account

A fun way to save for the holidays…

  • You make regular deposits into your Christmas Club account and Bradford National Bank will pay you interest.
  • All Christmas Club customers receive a special passbook.
  • You receive your Christmas Club Savings check in November.
  • Christmas Clubs come in a variety of denominations starting at $1 and can be opened at any Bradford National Bank location.

Savings Bonds

A great way to save for the future…

Savings Bonds can no longer be purchased at the bank. However, they can be purchased on-line by clicking here.

Fees assessed may reduce the earnings of the account.

FOR INFORMATIONAL PURPOSES ONLY. | Rates subject to change without notice. | For more information, Contact Bradford National Bank.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

Individual Retirement Accounts (IRA)

Traditional IRAs

A traditional Individual Retirement Account (IRA) is a personal savings plan that gives you tax advantages for setting aside money for retirement.

Contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances.

Generally, amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.

Rate: 2.00%
Annual Percentage Yield (APY): 2.01%

An IRA is a RETIREMENT ACCOUNT on which the TAX-DEFERRED INTEREST is paid semiannually. A MINIMUM DEPOSIT of $500.00 is required to open the IRA and each subsequent deposit must be at least $100.00. Withdrawals are not permitted before the age of 59 1/2 without penalties being assessed as required by law. Variable rate. Rates subject to change January 1 and July 1 after account is opened.

Roth IRA

A Roth IRA is an individual retirement arrangement that, except as explained below, is subject to the rules that apply to a traditional IRA. It can be either an account or an annuity. Individual retirement accounts.

Rate: 2.00%
Annual Percentage Yield (APY): 2.01%

  • To be a Roth IRA, the account or annuity must be designated as a Roth IRA when it is set up. A deemed IRA can be a Roth IRA, but neither a SEP-IRA nor SIMPLE IRA can be designated as a Roth IRA. Unlike a traditional IRA, you cannot deduct contributions to a Roth IRA. But, if you satisfy the requirements, qualified distributions are tax free. Contributions can be made to your Roth IRA after you reach age 70 1/2 and you can leave amounts in your Roth IRA as long as you live.

Education IRA

A Coverdell Education Savings Account is an account created as an incentive to help parents and students save for education expenses.

The total contributions for the beneficiary of this account cannot be more than $2,000 in any year, no matter how many accounts have been established. A beneficiary is someone who is under age 18 or is a special needs beneficiary.

The beneficiary will not owe tax on the distributions if they are less than a beneficiary’s qualified education expenses at an eligible institution. This benefit applies to higher education expenses as well as to elementary and secondary education expenses.

Rate: 2.00%
Annual Percentage Yield (APY): 2.01%

Here are some things to remember about Distributions from Coverdell Accounts:

  • Distributions are tax-free as long as they are used for qualified education expenses, such as tuition, books and fees
  • There is no tax on distributions if they are for an eligible educational institution. This includes any public, private or religious school that provides elementary or secondary education as determined under state law
  • The Hope and lifetime learning credits can be claimed in the same year the beneficiary takes a tax-free distribution from a Coverdell ESA, as long as the same expenses are not used for both benefits
  • If the distribution exceeds education expenses, a portion will be taxable to the beneficiary and will be subject to an additional 10% tax. Exceptions to the additional 10% tax include the death or disability of the beneficiary or if the beneficiary receives a qualified scholarship

There are contribution limits for taxpayers based on the taxpayer’s Modified Adjusted Gross Income. Contributions to a Coverdell ESA may be made until the due date of the contributor’s return, without extensions.

If there is a balance in the Coverdell ESA at the time the beneficiary reaches age 30, it must be distributed within 30 days. A portion representing earnings on the account will be taxable and subject to the additional 10% tax. The beneficiary may avoid these taxes by rolling over the full balance to another Coverdell ESA for another family member.

Fees assessed may reduce the earnings of the account.

FOR INFORMATIONAL PURPOSES ONLY. | Rates subject to change without notice. | For more information, Contact Bradford National Bank.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

Certificate of Deposit

Certificate of Deposit  –  CDs

You can invest in Certificates of Deposit(CDs) at Bradford National Bank. You can select the term you want based on the interest rate it pays. A minimum deposit of $1,000 is required and certain restrictions may apply.

Click Here For Current CD Rates

FOR INFORMATIONAL PURPOSES ONLY. | Rates subject to change without notice. | For more information, Contact Bradford National Bank.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

Health Savings Account (HSA)

Health Savings Accounts

Contributions to your HSA can be made by you, your employer, or both.  However, the total contribution is limited annually.  Contributions are tax deductible even if deductions are not itemized when completing your federal income tax return.

Contributions to the account must stop once you are enrolled in Medicare.  However, you may keep the money in your account and use it to pay for medical expenses tax-free.

Any adult can contribute to an HSA if they:

  • Have coverage under HSA-qualified “high deductible health plan” (HDHP)
  • Have no other first-dollar medical coverage (other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long-term insurance are permitted).
  • Are not enrolled in Medicare.
  • Cannot be claimed as a dependent on someone else’s tax return.

High Deductible Health Plans (HDHPs)

You must have coverage under a HSA-qualified “high deductible health plan (HDHP) to open and contribute to an HSA. Generally, this is health insurance that does not cover first dollar medical expenses. Federal law requires that the health insurance deductible be at least:

  • $3,500—Self –only coverage
  • $7,000—Family coverage

In addition, annual out-of-pocket expenses under the plan (including deductibles, co-pays, and co-insurance) cannot exceed:

  • $6,250—Self only coverage
  • $12,500—Family Coverage

In general, the deductible must apply to all medical expenses (including prescriptions) covered by the plan. However, plans can pay for “preventive care” services on a first-dollar basis (with or without a co-pay). “Preventive care” can include routine pre-natal and well-child care, child and adult immunizations, annual physicals, mammograms, pap spears, etc.

Finding HDHP Coverage

Any company that sells health insurance coverage in your state may offer HDHP policies. Although we cannot recommend any specific names of companies selling these policies, you should be able to find a qualified policy by contacting your current insurance company, an agent or broker licensed to sell health insurance in your state or your state insurance department.

HSA Contributions

You can make a contribution to your HSA each year that you are eligible. For 2019 you can contribute up to $3,500 if you have self-only coverage and $7,000 if you have family coverage.

Individuals older than 55 can also make additional “catch-up” contributions. The maximum annual catch-up contribution for 2019 and after is $1,000.

Using Your HSA

You can use the money in the account to pay for any “qualified medical expense” permitted under federal tax law. This includes most medical care, services, dental and vision care.

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

You can generally not use the money for medical insurance premiums, except under specific circumstances, including:

  • Any health plan coverage while receiving federal or state unemployment benefits.
    COBRA continuation coverage after leaving employment with a company that offers health insurance coverage.
  • Qualified long-term care insurance.
  • Medicare premiums and out-of-pocket expenses, including deductibles, co-pays, and co-insurance for:
    • Part A (hospital and inpatient services)
    • Part B (physician and outpatient services)
    • Part C (Medicare HMO and PPO Plans)
    • Part D (prescription drugs)

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

  • Medical expenses that are not considered “qualified medical expenses” under federal tax law (e.g. cosmetic surgery)
  • The purchase of other types of health insurance unless specifically described on the last page.
  • Medicare supplement insurance premiums.
  • Expenses that are not medical or health related.

Exceptions to the Additional 20% Tax Penalty

The additional 20% tax does not apply to distributions made after the account beneficiary

  • Dies
  • Becomes disabled, or
  • Turns age 65

What Happens to My HSA When I Die?

If your spouse is the beneficiary they can use the account as if it were their own HSA. If you are not married, the account will no longer be treated as an HSA upon your death. The account will pass to your beneficiary or become part of your estate (and be subject to any applicable taxes).

Need More Information About HSAs?

The U.S. Treasury’s website has additional information about Health Savings Accounts, including answers to frequently asked questions, related IRS forms and publications, technical guidance, and links to other helpful websites. The U.S. Treasury HSA website can be found through www.treas.gov.

Advantages of HSAs

Affordability
You should be able to lower your health insurance premiums by switching to health insurance coverage with a higher deductible.

Security
Your high deductible insurance and HSA protect you against high or unexpected medical bills.

Control
You make all the decisions about:

  • How much money to put into the account
  • Whether to save the account for future expenses or pay current medical expenses
  • Which medical expenses to pay from the account.

Flexibility
Since you control the account, you determine whether to pay for current medical expenses or to save for future needs including:

  • Health insurance or medical expenses if unemployed or after retirement (before Medicare)
  • Out-of-Pocket expenses when covered by Medicare
  • Long-term care expenses and insurance

Savings
Your account will grow through your deposits and interest earned.

Portability
Accounts are completely portable, meaning you can keep your HSA even if you:

  • Change jobs
  • Change your medical coverage
  • Become unemployed
  • Move to another state
  • Change your marital status

Ownership
Funds remain in the account from year to year, just like an IRA. There is no “use it or lose it” rule for HSAs.

Tax Savings
An HSA provides you triple tax savings:

  • Tax deductions when you contribute to your account
  • Tax-free earnings through investment; and
  • Tax-free withdrawals for qualified medical expenses.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

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Personal Banking

Bradford National Bank offers a variety of checking and savings programs designed to meet individual needs. From Checking Accounts to IRAs, Bradford National Bank is here to help you meet your goals.

Commercial Services

Bradford National Bank offers businesses a multitude of products to meet their unique financial requirements.

Lending

Bradford National Bank has resources available to make the decision to borrow money more convenient for customers. Bradford can help with home, auto, personal, commercial and agriculture loans of any scope or scale.

Agriculture

Find information on all of the great ag products and services available at the bank in one convenient location.

Locations & ATMS

Greenville - Main Branch

Greenville - Idler Branch

Highland Branch

Marine Branch

ATM Locations

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