Wolverine Bank CDs and IRAs Offer High-Yields and Flexible Terms

Our Certificates of Deposits offer guaranteed yields, flexibility, and the safety of FDIC insurance. That's because you lock in a high yield that's guaranteed from the day you open the account until the day it matures. You know exactly what return you'll get and when you'll get it.

Your investment is safe because Wolverine Bank CDs are backed by the Federal Deposit Insurance Corporation, making them as safe as any investment in the world.

There's A CD That's Right For You.

We offer Certificates of Deposit in a broad range of maturities, each designed with a particular goal in mind. And, for as little as $500, you can open a CD. Request a CD rate quote from one of our customer service representatives today or call (800) 968-4280 or (989) 631-4280 for more information.

Higher Rates for Higher Balances.

We pay higher interest rates for higher balances. Our current tiers are at $20,000, $50,000, and $100,000.

Short-Term CDs.

Short term savings certificates, usually up to 6 months, offer you the fastest access to your money.

Medium-Term CDs.

Our 12 to 24 month medium-term CDs generally offer you higher yields than shorter term CDs.

Long-Term CDs.

If you have a long-term outlook, our CDs with maturities of 3 years up to 10 years generally reward you with the highest yields we have to offer.

Guaranteed Raise CD.

Our Guaranteed Raise CD provides an alternative to traditional CDs by offering you 3 guaranteed rate increases, over a 3 year period, and the flexibility to withdraw funds after each 12 month interval with no penalty. This investment offers the security of fixed interest rates with penalty free withdrawal options.

Is an IRA Right For You?

Call one of our customer service representatives today at (989) 631-4280 or (800) 968-4280.

You might also be able to save on your present taxes with an Individual Retirement Account, by deducting your qualified contributions from your taxable income. Many Americans can deduct all or part of their IRA contributions from current income taxes. The deductible amount depends on your income, marital status and whether you're an active participant in an employer sponsored plan as defined by the Internal Revenue Service.

With an Individual Retirement Account, you may also be able defer taxes until you retire when you will probably be in a lower tax bracket. The chart below shows you how much you may be able save each year. You may want to consult your tax advisor to review the tax deductible status of an IRA. Regardless of the amount you'll be able to save now on taxes, an IRA is a smart way for you to save for a secure retirement.

IRA Tax Savings Potential Chart

IRA Deductible Contribution Amount	15 % Tax Bracket Savings	28 % Tax Bracket Savings	31 % Tax Bracket Savings	36 % Tax Bracket Savings	39.6 % Tax Bracket Savings
$ 500	$ 75	$ 140	$ 155	$ 180	$ 198
$ 1,000	$ 150	$ 280	$ 310	$ 360	$ 396
$ 2,000	$ 300	$ 560	$ 620	$ 720	$ 792
$ 2,250	$ 337	$ 630	$ 697	$ 810	$ 891
$ 4,000	$ 600	$ 1,120	$ 1,240	$ 1,440	$ 1,584

Changing Employers?

An IRA Rollover makes sense. If you are retiring or changing jobs and anticipate withdrawing money from your employer's retirement plan, you can avoid withdrawal penalties by transferring your assets into an IRA or another qualified plan. You can ask your employer to arrange for a "direct rollover" of your money into a new IRA account with us, or you can do it yourself with an IRA-to-IRA rollover.

Saving for your child's education?

The Coverdell Education Savings Account (CESA) is a great way to invest in your child's future. By establishing a CESA account you are able to save for their elementary, secondary and college education costs, as well as things like tuition, fees, books, and supplies. Unique to elementary and secondary costs, other qualified expenses also include uniforms, transportation, and computer technology, equipment, or internet access.

What is a Coverdell Education Savings Account (CESA)?

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's education expenses.

These accounts were formerly known as Education individual retirement accounts (IRAs), and at first glance, a CESA may look similar to traditional or Roth IRAs. Higher education distributions are also permitted from these accounts, but while qualified higher education distributions from a traditional or Roth IRA are only penalty tax free, the same distrubtions from a CESA are penalty free and federal income tax free. Consult your tax or legal professional for further information regarding state or local income taxes.

Who can contribute to a CESA?

You are eligible to contribute if your modified adjusted gross income (MAGI) does not exceed certain limits (see tables below).

There are no compensation requirements or age restrictions for contributors. They do not even need to be related to the child they are contributing for. Contributors can be nonindividuals like corporations or tax-exempt organizations. Theses entities have no MAGI restrictions.

Single Filers

MAGI of $95,000 or Less	MAGI Between $95,000 and $110,000	MAGI of $110,000 or More
Full Contribution	Partial Contribution	No Contribution

Married, Joint Filers

MAGI of $190,000 or Less	MAGI Between $190,000 and $220,000	MAGI of $220,000 or More
Full Contribution	Partial Contribution	No Contribution

How do I open a CESA Account?

Contact any one of our Wolverine Bank customer service representatives at (989) 631-4280 or (800) 968-4280. We'll be happy to further explain the nature of these accounts and help you start saving for your child's future today!