Investments & Savings

Peak Money Market **

With a minimum opening balance of $10,000, this investment savings account takes advantage of changing interest rates.

  • Tiered balance structure with higher yields paid on larger account balances
  • Earnings paid on daily available balances
  • If average account balance falls below $10,000 during the statement cycle: $10 monthly service fee and the rate for the entire period reverts to the Premium Checking interest rate

Money Market Account **

With a minimum balance of $1000, this account is designed to help you earn interest on your savings while giving you the flexibility of writing checks.

  • Tiered balance structure with higher yields paid on larger account balances
  • If average account balance falls below $1000 during the statement cycle: $10 monthly service fee and the rate for the entire period reverts to the Premium Checking interest rate

Tiered Savings **

With a minimum balance as low as $25, this account is a good cash management tool.

  • Tiered balance structure with higher yields paid on larger account balances
  • $5 monthly service charge if your balance falls below the $25 minimum
  • 5 FREE withdrawals per month: If over 5 withdrawals, charge of $1 per withdrawal including the first five
  • FREE Telebank

Certificates of Deposit (CDs)

Mountain West Bank offers flexible terms and competitive rates on these popular investment tools. We can add earned interest to your CD at maturity or credit your Mountain West Bank checking or savings account. For your convenience, earnings from your CD can be directly deposited to your account.

Medical Savings Account

With a $25 minimum balance, this savings account is designed especially for health care costs.

  • $5 monthly service charge if balance falls below the $25 minimum balance
  • Eligible expenses include the deductible and premiums on your health care insurance and expenses incurred for long-term care
  • May provide a State income tax deduction *
  • No "use it or lose it" requirements

* Applies only to State of Montana personal income tax returns and is subject to compliance by the account holder. Account holder, please refer to tax professional for record keeping and eligibility requirements.

Health Savings Account (HSA)

With a $25 minimum balance, this account is designed to pay for or reimburse the qualified medical expenses of an HSA owner and his/her family members.

  • $4 monthly service charge if balance falls below the $25 minimum balance
  • Fully deductible contributions
  • Tax-free distributions for qualified medical expenses
  • No "use it or lose it" requirements
  • Not all customers are eligible for an HSA. See a customer service representative to determine whether or not an HSA is right for you

Coverdell Education Savings Accounts (CESAs)

Education accounts for your children and grandchildren help ensure that the money will be there when they are ready to pursue their goal of a higher education.

  • Contributions are not tax-deductible, but earnings are tax-deferred
  • Helps parents/students pay for qualified education expenses: tuition, fees, books, supplies and equipment
  • May be established for any child (beneficiary) under the age of 18
  • Qualified distributions are tax-free to the beneficiary

** All savings products are limited to six transfers per statement cycle if by pre-authorized or automatic transfer, or telephone agreement. With the Money Market account, three of these transfers can be made by check, draft, or debit card payable to third parties. Transfers made in-house (at the teller window), by mail or ATM are unlimited.
Withdrawals that exceed these limitations will cause these accounts to be closed and funds transferred to a checking account.

Individual Retirement Accounts (IRAs)

Mountain West Bank offers both Traditional and Roth IRAs. Traditional IRAs offer the potential for tax-deductible contributions and tax-deferred earnings. Roth IRA contributions are not tax-deductible but offer the potential for tax-free earnings. Both Traditional and Roth IRAs are eligible for up to $250,000 of FDIC insurance. All IRAs or self-directed retirement accounts are insured separately from any other accounts held at the same financial institution.

Traditional IRAs

  • Add to your retirement savings
  • May provide State and Federal income tax deductions
  • Accumulated IRA earnings are tax-deferred until withdrawn from account

Roth IRAs

  • Contribute regardless of your age, as long as you've earned income during the year
  • Qualified earnings/distributions are tax-free upon withdrawal