Savings & Investments
Fahey Bank offers a variety of Savings & Investment Plans to meet your needs.
Select a Product From Below:
- Regular Savings
- SaveNOW Savings
- Money Market Savings
- Certificates of Deposit (CDs)
- Individual Retirement Accounts (IRAs)
- Christmas Club
Earn interest in our regular savings account from day one as long as the average daily balance requirement of $100 is maintained. Withdrawals, up to six times per quarter, are free. You'll also receive a quarterly statement of all savings account activities.
SaveNOW Savings - Temporarily Suspended
SaveNOW is a program offered by the State Treasurer's office through our linked deposit authority. SaveNOW offers a 3% bonus interest on savings accounts for Ohio citizens. Through this program, savers will receive financial education newsletters to empower them to make smart money choices, while building their financial safety net. Savers are required to complete a "then and now" financial education survey to receive their bonus interest at the end of the year.
SaveNOW encourages good savings habits by growing your savings. Imagine reaching into your savings account, instead of using your credit card on your next unexpected purchase.
Fahey's Money Market Savings Account combines the ability to earn our highest Money Market interest rates with easy access to your money by writing up to three third party checks, and a total of six transfers a month are free. No fees apply if an average balance of $1,000 is maintained each statement cycle. You'll also receive a monthly statement of all transactions, including your cancelled checks.
A Fahey Certificate of Deposit (CD) will usually earn you a higher fixed rate of interest. The CD's mature from as quickly as six months to five years and only require a minimum deposit of $500. The interest you earn may be put directly into your Fahey checking or savings account. Interest may also be applied to the CD's principal. Certain restrictions may apply. Substantial penalty for early withdrawal.
Fahey offers quality Individual Retirement Accounts (IRAs) to help you save for your retirement years. IRAs with a minimum opening balance of $100 to $250, with either a fixed or variable interest rate, are available. Your IRA contribution may be made in one lump sum or in regular installments during the year.
Health Savings Accounts (HSAs)
A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents.
You are eligible for a regular HSA contribution if, with respect to any month, you:
- Are covered under a high-deductible health plan (HDHP) on the first day of such month;
- Are not also covered by any other health plan that is not an HDHP (with certain exceptions for plans providing preventive care and limited types of permitted insurance and permitted coverage);
- Are not enrolled in Medicare; and
- Cannot be claimed as a dependent on another individual's tax return.
Save a little each week the whole year through with Fahey's Christmas Club and help take the crunch out of holiday spending. Deposits are made weekly with an auto-transfer from your checking or savings account beginning in October and the following November you'll receive your Christmas Club Funds directly deposited into your account - just in time for holiday spending.