Passbook Account - Christmas Club Account - Statement Account
Certificate of Deposit (CD) - Individual Retirement Account (IRA)
| Minimum Balance (opening) |
$200.00 |
| Minimum Balance to avoid service charge |
$200.00 |
| Interest Rate |
Please call New Accounts for current rates |
| Annual Percentage Yield (APY) |
Please call New Accounts for current rates |
| Minimum Balance required to obtain APY as listed |
$200.00 |
| Interest Computation Method |
*Daily Balance |
| Interest Compounded |
Quarterly |
| Interest Credited |
Quarterly |
| Interest won't be paid if balance is below |
$200.00 |
| Statement Period |
Passbook is posted Quarterly |
| Dormant Accounting Charge |
$3.00 per month if no customer activity for three years |
| Withdrawals |
Two per month no charge, each additional $5.00 |
| Closing Account |
Within first 6 months of opening date, a service charge of $10.00 will be charged. |
On non-cash items interest will begin to accrue on the next business day.
If you close your account before interest is credited, you will not receive the accrued interest.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time.
Excessive withdrawals: Each account will be required to maintain a minimum balance to $200.00. You must maintain a minimum balance of $200.00 in the account each day to obtain the APY disclosed. Should the balance fall below $200.00, there will be a service charge of $2.00 per month.
Closing of an Account: If an account is closed within 6 months of the opening date, a service charge of $10.00 will be charged.
*The Daily Balance is determined by the application of a daily periodic rate to the full amount in the account each day.
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Christmas Savings
| Minimum Balance (opening) |
$5.00 |
| Interest Rate |
See Rate Sheet |
| Annual Percentage Yield (APY) |
See Rate Sheet |
| Minimum Balance required to obtain APY as listed |
A completed Account |
| Statment Period |
Annually |
| Interest Computation Method |
*Daily Balance |
| Interest Compounded |
At maturity |
| Interest Credited |
At maturity |
On non-cash items interest will begin to accrue on the next business day.
A withdrawal fee of $10.00 will be charged for each withdrawal made from the account.
An account closing fee of $5.00 will be charged if this account is closed prior to maturity.
If you close your account before interest is credited, you will not receive the accrued interest.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time.
No statement for Christmas Club accounts.
A check for the balance plus interest is issued and mailed to the customer by Thanksgiving of each year.
*The Daily Balance is determined by the application of a daily periodic rate to the full amount in the account each day.
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Statement Savings Account
| Minimum Balance (opening) |
$200.00 |
| Minimum Balance to avoid service charges |
$200.00 |
| Interest Rate |
See Rate Sheet |
| Annual Percentage Yield (APY) |
See Rate Sheet |
| Minimum Balance required to obtain APY as listed |
$200.00 |
| Interest Computation Method |
*Daily Balance |
| Interest Compounded |
Quarterly |
| Interest Credited |
Quarterly |
| Interest will not be paid if balance is below |
$200.00 |
| Statement Period |
Quaterly |
| Dormant Account Charge |
$5.00 per month if no customer activity for three years |
| Withdrawals |
Six per month no charge, each additional $5.00 |
| Closing Account |
Within first 6 months of opening date, a service charge of $10.00 will be charged. |
On non-cash items interest will begin to accrue on the next business day.
If you close your account before interest is credited, you will not receive the accrued interest.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time.
Excessive withdrawals: Each account will be allowed two withdrawals per month. For each additional withdrawal, there will be a service charge of $5.00 each.
Dormant Account Charge $5.00 per month if the balance is below $500.00 and there is no customer activity for three years.
Closing of an Account: If an account is closed within 6 months of the opening date, a service charge of $10.00 will be charged.
Minimum Balances: Each account will be required to maintain a minimum balance of $200.00. You must maintain a minimum balance of $200.00 in the account each day to obtain the APY disclosed. Should the balance fall below $200.00, there will be a service charge of $5.00 per month.
*The Daily Balance is determined by the application of a daily periodic rate to the full amount in the account each day.
Certificate of Deposit (CD)
| Interest will be credited to your account or paid to you monthly, quaterly, at maturity or as agreed upon. |
| The annual percentage yiel (APY) assumes that interest remains on deposit until maturity. A withdrawal will reduce earnings. |
| After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until maturity date. |
| Interest begins to accrue on the day you deposit any noncash item (for exmaple: checks). |
PENALTY FOR EARLY WITHDRAWAL
You cannot redeem your Certificate before the maturity date without our approval. If we do allow you to redeem Your Certificate early, Federal regulations require us to charge the following penalties:
- If the Original Maturity is 32 Days to less than 1 year.
You will forfeit an amount at least equal to three months of interest on the funds withdrawn, regardless of the length of time the funds have actually remained on deposit. We will calculate the penalty at the simple interest rate we are paying on the Certificate.
- If the Original Maturity us One Year or More:
You will forfeit an amount at least equal to six months of interest on the funds withdrawn, regardless of the length of time the funds have actually remained on deposit. We will calculate the penalty at the simple interest rate we are paying on the Certificate
If we allow you to redeem Your Certificate early, you may lose a portion of the principal amount of your deposit if that is necessary to comply with the penalties described above. Also, if you have already received interest on Your Certificate and we allow you to redeem it early, we will deduct the interest you have received from the amount we redeem, if that is necessary to comply with the above penalties.
However, upon your death or in the event you are judicially determined to be legally incompetent, we will, upon request, allow the Certificate to be redeemed without penalty.
Renewal Policy - If your Certificate is SINGLE MATURITY and does not automatically renew, present it PROMPTLY at maturity as no interest is payable after the maturity date:
If your Certificate will AUTOMATICALLY RENEW, you will have a grace period of 10 days from maturity date to present this certificate for payment without penalty. If the Certificate automatically renews, IT WILL BE RENEWED AT THE RATE IN EFFECT AT THIS INSTITUTION ON THE DATE OF MATURITY.
|
| Method of Computation |
Daily Balance* |
| * The Dailty Balance is dtermined by the application of a daily periodic rate to the full amount of principal in the account each day. |
| Account Type |
Min. Deposit to Open Account |
Min. Balance to Obtain APY |
Interest Rate |
Compounded |
Annual Yield % |
| 90 Day CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
At Maturity |
See Rate Sheet |
| 6 Month CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Quarterly |
See Rate Sheet |
| 6 Month CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
At Maturity |
See Rate Sheet |
| 6 Month CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Monthly |
See Rate Sheet |
| 1 Year CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Quarterly |
See Rate Sheet |
| 1 Year CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Semi-Annually |
See Rate Sheet |
| 1 Year CD |
$10,000.00 |
$10,000.00 |
See Rate Sheet |
Monthly |
See Rate Sheet |
| 2 1/2 Year CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Quarterly |
See Rate Sheet |
| 2 1/2 Year CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Semi-Annually |
See Rate Sheet |
| 2 1/2 Year CD |
$10,000.00 |
$10,000.00 |
See Rate Sheet |
Monthly |
See Rate Sheet |
| 5 Year CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Quarterly |
See Rate Sheet |
| 5 Year CD |
$1,000.00 |
$1,000.00 |
See Rate Sheet |
Semi-Annually |
See Rate Sheet |
| 5 Year CD |
$10,000.00 |
$10,000.00 |
See Rate Sheet |
Monthly |
See Rate Sheet |
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Individual Retirement Account (IRA)
| Minimum Balance (opening) |
$1,000.00 |
| Minimum Opening Deposit |
$1,000.00 |
| Interest rate |
See Rate Sheet |
| Annual Percentage Yield (APY) |
See Rate Sheet |
| Interest Computation Method |
Daily Balance* |
| Interest compounded |
See Rate Sheet |
| Interest credited |
See Rate Sheet |
| Statement: |
Annually |
On non-cash items (for example, checks) interest will begin to accrue no later than the business day we receive credit for the deposit.
If you close your account before interest is credited, you will not receive the accrued interest.
Eligibility Requirements: Anyone under the age of 70 1/2 for the entire tax year who has compensation.
We offer Traditional, Roth and Educational IRAs. Come in and visit your IRA representative today and find out which IRA is best for you.
* The daily balance is determined by the application of a daily periodic rate to the full amount of the principal in the account each day.
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