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Farmers State Bank

How do I become a member?

Come in with a parent or legal guardian at any one of our locations in Elkader, Monona, Postville, or Waukon. Contact FreedomBank for documentation requirements for opening an account. Accounts for children may be opened as a UTMA or a joint account with the parent or legal guardian.

What if I already have a savings account with FreedomBank?

If you are age 13 and under, and already have a savings account at FreedomBank see a Customer Service Representative today to convert your account to a FreedomSavers Kids Club Account.


Upon opening your account you will receive:

  • A piggy bank
  • Birthday recognition during the month of your birthday


  • Minimum opening balance is $10.00
  • You may make unlimited deposits into your account
  • Minimum deposit amounts are $1.00


Interest is compounded daily, and credited quarterly. Accrued interest will not be paid if account is closed before interest payment date. Please visit Deposit Rates for the current rates.


  • Minimum withdrawals from this account are $1.00.
  • You may make up to six debits per monthly statement cycle with no penalty.
  • There will be a charge of $5.00 for each withdrawal in excess of six per month.
  • The Kids Club account will be converted to a student savings account at age 14.


We are a full-service, FDIC insured community bank with a friendly and caring staff ready to help children learn about saving.

FreedomBank does not knowingly solicit individually identifiable personal information or market our products to children online. We support protecting the identities and privacy of children online. FreedomBank recognizes this responsibility is dependent on both the online industry and with parents.