Personal Banking
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Personal Checking
Free Checking Account*
This account offers you unlimited check writing and earns interest on your daily collected balance. There is no minimum balance to maintain, no monthly service charges, and no per check charge.
Special Tiered Account*
This account offers you unlimited check writing and pays a tiered interest based on the daily collected balance in the account. The higher the balance maintained in this account, the higher the rate of interest paid. The minimum balance requirement of this premium checking account is $2,500.00 to avoid the $10.00 monthly service charge.
*Nominal charge for personalized checks.
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Personal Savings
Personal Savings Account
You must deposit $25.00 to open this account. This account earns interest on the daily collected balance, compounded and paid quarterly. There is no minimum balance to maintain.
Money Market Account
You must deposit $1,000.00 to open this account. This account is a savings account with check writing privileges. Interest is earned on the daily collected balance, compounded and paid monthly. A minimum balance of $1,000.00 is required to avoid a $5.00 monthly charge. A $10.00 per check fee will be charged for each debit transaction in excess of six (6) per month.
Christmas Club Account
With is savings account interest is earned on the daily collected balance and paid annually. There is no minimum balance is required for this account. Checks are printed and mailed to you in mid-October. Early withdrawals will result in some loss of interest. Christmas Club accounts are automatically renewable each year.
Certificates of Deposit
When you open one of our insured CD's, you lock in a rate of interest for the term of your investment.* You must deposit $500.00 to open a CD. There are various terms available to choose from as well as various interest payment options. Interest rates are reviewed weekly. Simply call or stop by for our latest interest rates.
Individual Retirement Accounts (IRAs)
We offer fixed or variable rate IRAs. The variable rate changes on the first Tuesday or each month. Variable IRAs have an 18 month maturity. You can choose the term (maturity) you desire on a fixed rate IRA from the various terms we have available.
- Traditional IRA* - this is a tax-deferred account. Your contribitions and earnings grow tax free; you pay taxes upon withdrawal.
- Roth IRA* - this is a tax-preferred account and will produce tax-free income under certain circumstances. You and your beneficiaries will not be require to include in income (for income tax purposes) distributions from your Roth IRA if certain rules are met.
You'll have peace of mid knowing your IRA money is safely invested with Upper Peninsula State Bank, and of course, your retirement funds are insured, separately from your other accounts, up to $250,000.00 by the FDIC.
*Penalty for early withdrawal.
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Personal Loans
Consumer Loans are available to qualified borrowers for various purposes, such as:
- Automobiles
- ATV's
- Snowmobiles
- Recreational Vehicles
- Boats
- Miscellaneous Retail Purchases
- Personal Use
The terms of these loans are based on the age and type of collateral offered, with great interest rates. Call one of our Loan Officers for details.
Check Credit
Upon pre-approval, a line of credit can be attached to your checking account. Reduce the worry if you inadvertently overdraw your account or write yourself a loan just by writing a check. The amount of the line of credit will be determined by your credit capacity and may or may not be secured by collateral.
Loans Secured by Certificates of Deposit
We can offer flexible loan terms to borrowers who use their Upper Peninsula State Bank Certificate of Deposit as collateral. The interest rate will be only 2% over the rate on the Certificate of Deposit with a common maturity date.
Are you interested in applying for a consumer loan? Download our application.
Complete and print the application and drop it off at any of our Upper Peninsula State Bank locations.
Questions about the application can be directed to any of our Upper Peninsula State Bank locations.
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Mortgage Loans
If you are looking to buy a new home or refinance your current home, we can help! We offer various types of mortgage loans to meet your needs.
Conventional/Fixed Rate Mortgages
Long term mortgage products are available at competitive fixed interest rates to qualified borrowers. Low downpayment options available with approved Private Mortgage Insurance.
MSHDA Mortgages
The Michigan State Housing Development Authority (MSHDA) mortgage product offers a below-market, fixed interest rate to low and moderate income households for the purchase of a single-family residence.
Rural Development Guaranteed Mortgages
No downpayment is required for qualified moderate income borrowers based on household size. This guarantee must be used with the MSHDA or Freddie Mac Fixed Rate Mortgage Programs.
In-House/Portfolio Mortgages
Balloon mortgages offer a fixed interest rate during the balloon term, with a longer amortization period for affordable payments. Upon maturity of the balloon term, the mortgage then needs to be renegotiated for the next balloon term.
VA Loans
We work with the VA to offer loans for service members, veterans, and eligible surviving spouses looking to purchase or build a home.
New Construction Loans
Have you always dreamed of building a home? Borrowers can construct a home, making interest only payments on the construction credit line. Once the home is completed, the credit line will be converted to the loan option that is best for you.
Home Equity Line of Credit
A home equity line of credit (HELOC), secured by a borrower’s real estate, offers the flexibility and convenience for financing all types of items. A predetermined credit limit can be used any time for any purpose just by writing a check. The amount available is based on the equity in the property, which is the difference between the value less any liens or mortgages against it.
Are you ready to take the next step towards buying a new home or refinancing your current home?
Contact one of our Mortgage Loan Officers for current interest rates and more information.
In addition to the deposit and loan products listed above, we offer other types of products and convenient services to our customers. Select one of the tabs below for more information!
ATM/Debit Card
Need cash and the bank is closed - use one of our conveniently located ATM machines 24-hours a day, 7-days a week with no fee attached. Our Debit Card can be used like the ATM Card and also anywhere a VISA Card is accepted. For more information please contact any customer service representative. Chip Card Information.
VISA® Account Updater
VISA's Account Updater is a service participating merchants can use to retrieve cardholder account changes, like new debit card numbers and expiration dates, to ensure as little disruption as possible for your card-on-file and automated payments. Frequently Asked Questions about VISA Account Updater.
Mobile Debit Alerts/Consumer Controls
Now the power to protect your Upper Peninsula State Bank debit card is in your hands! Download SecurLOCK Equip from your app store. It is fast and FREE! With SecurLOCK, you can:
- Turn your card off and on
- Control where your cards can be used
- Receive instant alerts
Virtual Payment Options
Enjoy all the benefits of our Debit Card using one of our virtual payment options listed below:
- Apple Pay™ - It's the easy, secure, and private way to pay with a simple touch. Apple Pay Information.
- Samsung Pay - It's simple, secure and works almost anywhere you can swipe your card. Samsung Pay Information.
- Android Pay™ - It's fast and easy, in stores or online. Android Pay Information.
Night Deposit
Use our night deposit service for those times that the bank is closed and you need to make a deposit or loan payment.
Mobile Deposit
Use our mobile deposit capture feature within our Mobile App when you are on the go and can't make it to the bank.
Direct Deposit
Social security, pension or payroll checks may be deposited directly into your Upper Peninsula State Bank account. Ask our Customer Service Representatives for more details.
Overdraft Protection
No one wants their account to be overdrawn. That is why at Upper Peninsula State Bank, we offer a little "peace of mind".
Overdraft Protection can be set up to cover those temporary shortfalls in funding needs. Automatically transfer funds from your savings account or use a personal line of credit to keep your checking balance above zero and avoid costly overdraft charges.
Stop in or call one of our Customer Service Representatives or any Bank Officer for more details.
Safe Deposit Boxes
Need a place to store and protect your personal valuables and important papers? We have Safe Deposit Boxes in several different sizes available to meet your needs. Boxes are available at our Escanaba and Iron Mountain Offices.
Money Orders / Cashiers Checks
You may purchase money orders for up to $500.00 and cashiers checks for any amount. A small fee is charged. We do not charge any fee to our Non-Profit Organization customers.
VISA Credit Cards
Choose from a variety of VISA cards, each designed to meet your individual financial needs. It's easy to apply. Speak to one of our Customer Service Representatives for more details.
Other Services
We also offer Foreign Currency Exchange, VISA Gift Cards, Wire transfers, Notary Services and Signature Guarantees.