Coming to Iowa January 1st
Have You Heard This News?

A little publicized Iowa law signed May 9 creates a tax-advantaged First-Time Homebuyer Savings Account (FTHSA) for qualified residents of Iowa saving for their first homes. Despite the account name, the law makes this specialized savings account available to all Iowans, not just first-time homebuyers.  These accounts become available January 1, 2018.

Even if you own your own home, you can open a FTHSA and deduct your contributions from your Iowa income taxes as long as you name an eligible "designated beneficiary", a person who qualifies as a "first-time homebuyer" as the recipient of the funds for the purchase of a single-family residence in Iowa.

Account holders can deduct contributions up to $2,000 annually on their Iowa income tax returns for a period of up to ten years, or up to $4,000 annually if the account is opened jointly by married persons filing jointly.

As with any law, there are rules that govern what is and is not allowed. You can read more details and FAQs here.  We will offer this account and are waiting for the final rules from the state of Iowa. We encourage you to speak with your tax or legal professional to see if the tax benefits could benefit you in the coming year or fit into your estate planning strategy.

If you, or someone you know, is interested in learning more about this, please use this link to send us an e-mail:

What Else is New?

More Equifax Data Breach Info
  • Last month we covered in detail the Equifax Data Breach and mentioned a number of things you can do to protect yourself. Since then, Equifax has announced that starting in January 2018, they will offer a free app that allows consumers to instantly "lock" and "unlock" their Equifax credit files at will for life. You can read more about this here
Top 10 E-Mail Phishing Subject Lines 
  • We just came across a list of the most attractive phishing lures and they are on the topics of security, package delivery, password expiration/change and company-related notifications. We've shared this "top 10" list of phishing e-mail subject lines with our employees; you may want to share it with yours.
  1. Official Data Breach Notification
  2. UPS Label Delivery
  3. IT Reminder: Your Password Expires in Less Than 24 Hours
  4. Change of Password Required Immediately
  5. Please Read Important from Human Resources
  6. All Employees: Update your Healthcare Info
  7. Revised Vacation & Sick Time Policy
  8. Quick company survey
  9. A Delivery Attempt was made
  10. Email Account Updates

Worth Mentioning Again

October is National Cybersecurity Month
  • CyberSecure My Business™  is a website that includes tools, resources and links to help small businesses adopt sound cybersecurity practices. Take a look!
It's Health Care Benefit Enrollment Season
  • If you offer your employees High Deductible Healthcare Plans or you have one yourself, we offer Health Savings Accounts. Find more information here.
As the Holidays Approach...
  • Here are 5 ways to protect yourself from identity theft this holiday season:
  1. Pass on the new store card applications. Typically they require you to write down personal information in a public setting on paper that could be lost, stolen or misused.
  2. Watch for credit card skimmers. When you use an ATM or gas pump, be on the lookout for loose parts or anything unusual.
  3. Check your account statements frequently. The quicker you detect fraud, the quicker the activity can be stopped.
  4. Don't click on suspicious e-mail links. The holidays are busy, don't let down your guard.
  5. Be cautious shopping online. Make sure you shop trusted retailers, only shop on secure websites (https) and never make purchases on a public Wi-Fi connection.

Share the News

If you know a business that could benefit from this newsletter, forward it on and let us know by sending an e-mail to with their contact information and we'll add them to our distribution list.

Copyright © 2017 State Savings Bank, All rights reserved.

Baxter: 641-227-3161      West Des Moines: 515-457-9533

Our mailing address is:
State Savings Bank
4800 Mills Civic Parkway
Suite 100
West Des Moines, IA 50265

Add us to your address book

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list

This email was sent to <<Email Address>>
why did I get this?    unsubscribe from this list    update subscription preferences
State Savings Bank · 4800 Mills Civic Parkway · Suite 100 · West Des Moines, IA 50265 · USA

Email Marketing Powered by Mailchimp