Winter 2018 eNewsletter  
Save for Your First Home
Shelby County State Bank News & Events  

First-Time Homebuyer Savings Accounts Now Available in Iowa  

First-Time Home Buyer

Account owners can get a tax break on savings.

A 2018 Iowa law authorizes a new tax-preferred "First-Time Homebuyer Savings Accounts" (FTHSA). This new legislation allows Iowans to make tax-deductible contributions into a special account for first-time homebuyers, and they are now available at Shelby County State Bank.

What is an FTHSA?
An FTHSA tax-advantaged savings account is designed specifically for first-time homebuyers to make purchasing a first home easier.

Who is it for?
Account holders who establish an FTHSA must designate a sole beneficiary who qualifies as a first-time homebuyer, both when the account is opened and when the money in the account is used. Iowa residents qualify as first-time homebuyers if they have not owned, individually or jointly, a single-family or multifamily residence for the prior three years.

What are the advantages of opening an FTHSA?
The FTHSA is specifically designed for individuals who are preparing to purchase their first home, and it allows parents, grandparents or anyone to help save for the purchase or down payment of a new home. This special account offers benefits including a tax deduction for the account holder on their state income taxes up to $2,000 individually or $4,000 for married taxpayers filing a joint return. Plus, the interest grows tax-free!

What can the FTHSA savings be used for?
Funds in an FTHSA may be withdrawn at any time. However, to avoid penalties to the account holder, withdrawals must be used by the first-time homebuyer named as the beneficiary to purchase a single family residence in Iowa. Savings can be used for down payments, loan origination charges, appraisal fees, credit report fees, and other closing fees on the settlement statement.

When and where can I open one?
You can open an FTHBA at any Shelby County State Bank and start saving today. You can start taking a tax deduction beginning in the 2018 tax year.

Now is a great time to save for one of the most important purchases of a lifetime and turn the American dream of homeownership into a reality! For more details about the First-Time Homebuyer Savings Account, visit www.scsbnet.com. Contact your tax preparer for details on tax benefits and beneficiary designation.



On September 1, 2017 SCSB unveiled the Cyclone Fan Card, a free bank debit card that featured the Harlan Community Cyclones logo. For every card that was ordered during the two month introductory period, the bank made a $10 donation toward the Harlan Community School District's STEM program.

With the support of SCSB customers who ordered the fan cards, the bank was able to present a check toward the school's STEM program for $3,700. Shelby County State Bank is proud to have partnered with Harlan Community Schools, and extends appreciation to everyone who ordered Fan Cards in support of the Cyclones.

The Cyclone Fan Card debit cards are still available, exclusively at SCSB. Simply contact your nearest SCSB and we'll order one for you at no charge! Whether you're already an SCSB customer, or a new customer, getting a Cyclone Fan Card debit card is easy, and it is a fan-tastic way to show support for your favorite team!

SCSB staff presents $3700 towards STEM program
SCSB staff presented the Harlan Community School District with a check for $3700 toward the school's STEM program.
SCSB Check Presentation
SCSB Staff: Kevin Campbell, Janet Buman, Stefanie Kramer, Mathew Freund, Ann Schwieso, and HCSD Superintendent, Justin Wagner

Junior Savers' Club Members – Enter the "Piggy Bank Roundup" for a Chance to Win!
Little Girl holding piggy bank

Kids ages 0-12 can enter the "Piggy Bank Roundup" for a chance to win cash prizes. Simply share a picture of your child and their piggy bank with SCSB. All entrants will receive a $2 bill and three random winners will receive $50.

To be eligible to enter, photos of kids ages 0-12 with their piggy bank can be submitted through one of the following methods: 1) Post the photo in the comments of SCSB's Facebook page. 2) Post the photo on Twitter with the hashtag #PiggyBankRoundup 3) Email the photo to webmst@scsbnet.com 4) Text the photo to 712-236-3658 5) Mail the photo to SCSB, PO Box 29, Harlan, IA 51537. Your "Piggy Bank Roundup" photo may then be posted on SCSB's Twitter or Facebook page.

All entries must be submitted between February 1-28, 2018 and winners will be randomly selected on March 6, 2018.

One entry per person. No purchase or account required to enter or to win. See www.scsbnet.com for official rules.

SCSB staff wearing jeans

Pulling on a pair of jeans is one way that employees of Shelby County State Bank raise money for various charities and fundraisers. The idea called, "Casual for a Cause" allows employees to wear jeans to work on Fridays in exchange for a $5 donation toward various local causes. The recipients of those funds included 33 organizations and four families. In 2017, SCSB employees raised a total of $6,379 for various causes.


For the third year in a row, Shelby County State Bank has created unique, holiday trees for the Christmas season. Each SCSB location proudly displayed its own "can tree", Christmas trees made entirely out of non-perishable food. All food and paper items used in the construction of the can trees were donated to local food panties to benefit families in need.

By making "can trees", the bank continued its tradition of food donations, but is also adding a creative new element involving both the employees and customers. Last year, nearly 1200 pounds of food used in the construction of the trees was donated locally to the Elk Horn Food Pantry, the Shelby Community Club, and to West Central Community Action in Harlan.

Food Pantry Trees made out of cans
Kathy Fara and LeeAnn Leinen from the SCSB Irwin Office donated food to West Central Community Action
Food Pantry Trees made out of cans
Morgan Allen and Kayla Petersen with food donations given to the Elk Horn food pantry.
Food Pantry Trees made out of cans
SCSB's Elk Horn Office created a replica windmill out of canned food items.
  View all of the trees here!
SCSB Mortgage Center
Local Phone:
(712) 755-5112



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Local: (712) 755-7921
Toll-free: 1-888-755-5112


Postal Address
508 Court Street
PO Box 29
Harlan, Iowa 51537-0029

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PO Box 29 Harlan, Iowa 51537-0029
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