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Safekeeping Accounts

Value Free Checking: This account is free of all services charges, no minimum balance requirement and offers unlimited checking writing.  First 50 checks are free with your initial $100 opening deposit.

Value Plus Checking*: $500 minimum balance or $1,000 in a savings account tied to this account. If your balance falls below $500, your account will be subject to a $5 service charge and no interest will be paid for that statement cycle. $500 initial deposit required to open account.

Value Plus Senior Checking (Age 55 and older)*: No minimum balance requirement. You must maintain a minimum average daily balance of $500 in the account to obtain the disclosed annual percentage yield. No interest is paid if balance falls below $500 on any day of the statement cycle. You will also receive the following free services with this account:

• SHAZAM Cash/Debit Card
• Travelers Checks (Quantity restrictions may apply)
• Money Orders (Quantity restrictions may apply)
• Notary
• Fax and Photocopy Services
• Online Banking

Regular Checking Accounts

Regular Checking: $300 minimum balance or $1,500 in a savings account tied to this account. If your balance falls below $300, your account will be subject to a $6.50 service charge for that statement cycle. $100 initial deposit required to receive checks.

NOW Checking*: $900 minimum balance, $1,800 average daily balance, or $3,000 in a savings account tied to this account. If your balance falls below $900, or your average daily balance falls below $1,800, your account will be subject to a $8.50 service charge for that statement cycle. The minimum balance required to open this account is $900. No interest paid if the balance falls below $500 any time during the month. You must maintain a minimum average daily balance of $500 to obtain the disclosed annual percentage yield.

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Savings Accounts

Regular Savings: $50 average daily balance requirement to avoid a service charge. If average balance falls below $50, your account will be subject to a $2 service charge. Allowed six (6) withdrawals per month at no charge, $1 per withdrawal therafter.  You may make six (6) preauthorized transfers from your account each four (4) week or similar period. No monthly service charge if age 55 or older.

Money Market Savings*: Minimum balance required to open this account is $2,500. $50 average daily balance requirement to avoid a service charge. If average balance falls below $50, your account will be subject to a $2 service charge. Allowed six withdrawals per month at no charge, $1 per withdrawal thereafter.  You may make six (6) preauthorized transfers from your account each four (4) week period of which three (3) may be by check, draft, POS made payable to third parties.

Investor’s Plus*: Tiered interest rates offered so you earn higher interest on higher balances. See our Customer Service department for current interest rate information.  Initial balance requirement is $5,000. The account is limited to six withdrawals per statement cycle. If the minimum balance falls below $5,000, your account will be subject to a $10 service charge for the month and no interest is paid. You must maintain a minimum average daily balance of $5,000 to obtain the disclosed annual percentage yield.  Additional services include:  Free checking for your regular checking account, free debit/ATM card, free Online Banking Bill Pay service, and 1/4% interest rate discount on all consumer loans with auto payments from account (excluding real estate loans).

Save For America: This is a savings program for school age children where they can actually make deposits at the school on designated "banking days." Children are eligible for various prizes throughout the year. This program is currently available at the Wadena-Deer Creek Schools and St. Ann’s School.

*Contact our Customer Service department for current interest rate information on applicable checking and savings accounts. The interest rate and annual percentage yield may change at any time. Interest will be compounded monthly and credited into account monthly. Interest is calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. If account is closed before interest is paid, you will not receive the accrued interest.  

Wadena State Bank Cash and Check Card
Wadena State Bank offers four convenient SHAZAM cash machine locations:

• Bluffton Branch
• Deer Creek Branch
• Wadena Express Bank Facility
• Orton's BP- Junction of Highway 10 & 71, Wadena

Your cash/debit card can be used 24 hours a day and is accepted at any machine that displays the SHAZAM, VISA,CIRRUS, or PLUS logo. All are trademarked logos. Your photo may also be put on the card to further protect you from fraud in case your card is lost or stolen.

Other Services

• Notary Service (free of charge)
• Bank-by-mail
• Cashier checks
• US Savings Bonds
• Personal Money Orders
• Wadena State Bank VISA/MASTERCARD credit cards

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Personal Loans

Installment Loans
Wadena State Bank offers the most competitive interest rates in the area for all your personal financing needs. Vehicles, boats & motors, ATV’s, and debt consolidation are just a few of the loans we can make for you. Get an additional interest rate cut for automatic loan payments to either your checking or savings account. Creating financial possibilities...it’s what we do best.

Residential Real Estate Loans
Competitive Fixed Rate Mortgages - Wadena State Bank offers fixed rate mortgages.  Rates are competitive to secondary market rates with lower closing costs and quicker turnaround time on closings. Avoid the hassles of a secondary market loan, enjoy quick application approvals and timely closings. You’ll work directly with our loan officers, so if you ever have any questions or unforeseen problems, you’ll talk face-to-face with a loan officer, not an automated voice answering machine that has no authority or decision making capability.

Adjustable Rate Mortgages - Wadena State Bank offers Adjustable Rate Mortgages (ARM’s).  These financing programs also offer interest rate caps for your protection.

One-time Closing Construction Loans - Considering building a home? Don’t pay two sets of closing costs, one for the construction loan and one for permanent financing, see WSB for both the construction AND permanent loan financing all wrapped into one loan transaction. WSB offers rates that are competitive to secondary market and you’ll save considerably on closing costs. Plus, if you ever need to speak to someone about your loan, you’ll work directly, face-to-face, with an employee of our bank...not an computerized voice messaging system that has no authority.

Investment Property Financing - Looking for investment property such as hunting land, lake shore property or a family getaway? Wadena State Bank offers a variety of financing options that can fit your situation. We offer competitive financing, easy terms and quick transaction turnaround for property closings.

Home Equity Line of Credit - WSB offers both variable and fixed-rate Home Equity Line of Credit programs. Borrow against the equity you have in your home and use the money for home improvements, purchasing a new vehicle, buying a boat, motor and trailer, or to consolidate high interest credit card debt. The Home Equity Line of Credit offers flexible payments and may be tax deductible. Consult your tax advisor for further information on tax deductibility.

Secondary Market Financing - VA, FHA, Rural Development and 1st Time Home Buyer programs are all available through Wadena State Bank. Down payment requirement as low as 0-5% down plus closing costs.
 

 Are You Shopping For a Home Loan?

   Buying a home might be the biggest purchase you'll ever make!  The loan professionals at Wadena State Bank, your Equal Housing Lender, make financing your home simple. 

Equal Housing Lender

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