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West Salem, WI

Where Customers and Community Come First

Long-Term Savings – CD's, IRA's, CDARS

Long-Term Savings Plans all at Union State Bank

Certificates of Deposit (CD's)

Earn a guaranteed rate of interest for a specific time period without the fear of losing any principal.  Perfect for your longer term savings plan!

  • $500 minimum opening balance
  • Maturity dates range from six months to five years
  • Penalties may apply for early withdrawal
  • Interest may be compounded or paid periodically by check

Individual Retirement Accounts (IRA's)

The personal tax-sheltered retirement savings plan that allows you to build up a substantial fund for your retirement.  We offer you a choice:

  • Traditional IRA – may be immediately tax-deductible while the interest you earn on your investment is tax-deferred until you begin taking distributions
  • Roth IRA – provides no immediate tax advantage but provides withdrawals of both principal and interest that are completely tax-free, providing you follow certain requirements.
  • SEP IRA – the Simplified Employer Pension Plan is a retirement plan for small business owners and self-employed individuals.  SEP's allow a much larger contribution than Traditional or ROTH IRA.

After you have established your tax-sheltered retirement savings plan with us, you can choose our investment options:

  1. Variable IRA – You can open this account for only $25.00 under any retirement plan and make periodic automatic deposits from another Union State Bank account or add at your discretion.
  2. Fixed Rate IRA – with $500 minimum deposit to a retirement plan CD, you have a choice of several terms at a guaranteed rate of interest for the term you choose.

Certificate of Deposit Account Registry Services® (CDARS)

It's the easiest, most convenient way to receive full FDIC Insurance on deposit amounts larger than $250,000 using One bank, One rate, and One statement!  Eliminate the inconvenience and confusion of traveling from bank-to-bank to manage accounts with different rates, rules and maturity dates.

Everything is handled through Union State Bank.  Your large deposit is broken into smaller accounts and placed with other banks that are members of a special network.  Then, those member banks issue CD's in amounts under $250,000 so your entire investment is eligible for FDIC insurance.

Here's how it works:

  • You sign one simple Deposit Placement Agreement with us and negotiate one interest rate and maturity.  Your funds are deposited with Union State Bank.  Using CDARS, we submit your funds for placement at member banks.
  • Member banks issue CDs in denominations under $250,000 so your entire investment is eligible for full FDIC insurance coverage.
  • You receive one statement listing all your CDs.
  • You will receive only one 1099 tax form at the end of each year reporting total interest earned.


At Union State Bank, we strive to provide competitive rates along with excellent customer service.

For information on our rates and fees, please call us at (608) 786-0600 or 786-6200.

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