Lake Elmo Bank


Lake Elmo Bank was chartered on August 1, 1911 by a group of farmers and local business owners. Their purpose was to establish a community bank which would be locally owned and responsive to the community’s needs.

The State Bank of Lake Elmo, now Lake Elmo Bank, has been and remains the community bank envisioned by its founders. Over the years, as the community gradually changed, so has Lake Elmo Bank to accommodate the community’s needs. But through it all, the Bank continued to remain locally owned and committed to its tradition of service.

Our tradition of service has guided us through many changes over the past 100 years – the change from a farm community to a more diverse, metropolitan community. At the same time, we have seen changes within the financial industry – from hand written ledgers to Online Banking and Cash Management Services.

HSA Program Features

FDIC or NCUA Insured:
Min Balance to Open:
  • Debit Card
  • Checks
  • Online Banking

HSA Interest Rates

Interest rates for various balance tiers
$0.01 – $999.99 0.09% APY
$1,000.00 - $24,999.99 0.29% APY
$25,000.00 - $49,999.99 0.30% APY
$50,000.00 - $499,999.99 0.33% APY
$500,000.00 + 0.40% APY
Last checked on: 06-05-2023. Rates may not be current, please check the provider's website for the latest rates.


Monthly Maintenance Fee $3.00*
Account Opening Fee $25.00
Account Closing Fee Unknown

* Minimum balance and below balance monthly charge of $3.00 are waived for the first year.

HSA Investment Options

Mutual Fund Platform: close   Self-Directed Brokerage: close   CDs: close   Other: close

Contact Information

General Information

Address 11465 39th Street N
Lake Elmo MN 55042-0857

Customer Service

Mailing Address PO Box 857
Lake Elmo MN 55042-0857
Phone Number 1-800-769-2770
Email Address [email protected]