Waterman Savings
Christmas Club
Earn .25% APY* on your savings
Start with only $1
Waterman Savings
Earn .25% APY* on your savings
Start with only $1
Earn a competitive rate while you save for the holidays and special moments.
No maintenance or minimum balance fees. Your money stays with you.
With 24/7 online banking, you can monitor your account and add additional funds at your convienence.
Additional Features
Waterman Bank is a member of the Federal Insurance Corporation (FDIC). The FDIC protects your Waterman Bank deposits up to $250,000 per depositor for each qualifying account ownership category. This means your money is 100% protected up to the FDIC limits. Learn more about FDIC coverage here.
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Read our disclosures about our Money Market Savings accounts here.
The Holiday Season is for joy.
Plan your holiday spending with the Waterman Christmas Club account. With features like automatic transfers and online banking we make it easy to achieve your saving goals.
This dedicated Christmas Club account has no fees and a competitive rate, start your account with $1 today.
Learn more about our process to open a new account at Waterman.
A Full-service bank at your fingertips.
Learn more about our
Waterman Bank Mobile App here.
Use this free Savings Calculator to see what potential savings your could have today. For further analysis and details into your specific savings plan, contact us to discuss options.
This calculator easily answers the question "If I save "X" amount for "Y" months what will the value be at the end?"
The user enters the "Periodic Savings Amount" (amount saved or invested every month); the "Number of Months" and the "Annual Interest Rate" or the annual rate of return one expects to earn on their investments.
The calculator quickly creates a savings schedule and a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
The investment term is always expressed in months.
If you need a more advanced "Savings Calculator" - one that lets the user solve for the starting amount, the amount to invest, the interest rate, the term required to reach a goal or the future value; or if you would like to easily print the schedule; or if you need to pick a different investment frequency, then you may want to try the calculator located here: https:/financial-calculators.com/savings-calculator
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
A Waterman Christmas Club is a short-term savings account that earns interest and encourages you to save for the holiday season.
Yes, this Christmas Club account is FDIC-insured up to the allowable limits.
Christmas club account funds are held till mid-October each year right before the holiday season. After which a check is issued for full balance amount.
There are several ways to make a deposit:
Yes. You can assign individuals as Payable on Death beneficiaries, which means while you’re alive the beneficiaries won’t have access to anything in the account. There are certain situations where beneficiaries are handled differently, like when dealing with a Joint with Survivorship accounts or Trust accounts when the Trustee is controlling the funds for another party. Assigning beneficiaries can give you peace of mind and can result in increased FDIC coverage for your accounts up to the legal allowable limits. For additional questions or concerns, contact us at 815-264-3201 or info@watermanbank.com.
At Waterman we believe in serving all the people in our communities, understanding your needs and finding the right solutions to meet them. Whether your goals are big or small we are only a phone call or email away, we’re here to help.
© 2022 Waterman Bank. Routing Number: 071916482 | Privacy Policy | Website Disclaimer | State of Illinois Community Reinvestment Notice | SiteMap
© 2022 Waterman Bank. Routing Number: 071916482 | Privacy Policy | Website Disclaimer | State of Illinois Community Reinvestment Notice | SiteMap