Savings Accounts

Savings

Statement savings account offered to individuals and business customers who want to save. Withdrawals limited to 3 per month. Interest will be deposited to the account semi-annually.

Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be computed semi-annually and will be credited to the account semi-annually.

Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period you must maintain a minimum average daily balance of $100.00 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Limitations: You must deposit $100.00 to open this account. Only three withdrawals are allowed per month. Any withdrawal in excess of three will be assessed a $3.00 service charge per withdrawal.

Account Fees: a $300.00 average monthly balance is required. If the average balance is not maintained, there will be a monthly service charge of $3.00 on the account. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Senior Savings

A statement savings account designed especially for senior citizens. There is no fee for maintaining this account. Interest will be deposited to the account semi-annually.

Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be computed semi-annually and will be credited to the account semi-annually.

Balance Information: We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period you must maintain a minimum average daily balance of $10.00 to obtain the disclosed annual percentage yield. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Limitations: You must deposit $25.00 to open this account. Only three withdrawals are allowed per month. Any withdrawal in excess of three will be assessed a $3 service charge per withdrawal.

Account Fees: There is no fee for maintaining this account.

Savings Plus CD

An account hybrid that offers the competitive interest rates of a certificate of deposit plus the capability of making additional deposits of a savings account.

Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 3 months. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded quarterly and will be credited at maturity. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1000.00 in the account each day to obtain the disclosed annual percentage yield.

Limitations: you must deposit $1000.00 to open this account. Additional deposits must be $50.00 or more. Withdrawals are subject to early withdrawal penalties.

Time Account Information: Your account will mature in 3 months. If you withdraw any of the principal before the maturity date, we may impose a penalty of one month’s interest. This account will automatically renew. You will have 10 days after the maturity date to withdraw funds without penalty. If you do not withdraw the funds, each renewal term will be for an identical period of time as the original term.

Christmas Club

A Statement savings account offered to individuals who want to save for Christmas needs. Interest will be paid at maturity. This account will beoffered October 15 each year and will mature October 1st of the following year.

Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will not be compounded on this account. Interest will be credited to the account at maturity. If the account is closed before interest is credited you will not receive the accrued interest. At the end of the club account period October1, 2007, the funds  in the account will be mailed to you by check.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Limitations: Deposits must come from an automatic transfer from an existing checking account or a direct deposit through payroll deduction. Withdrawals made from this account will close the account and result in forfeiture of all accrued interest and a $20.00 fee.

Vacation Club - Summer

A statement savings account offered to individuals who want to save for Christmas needs. Interest will be paid at maturity. This account will be offered February 15 and June 15 each year. The maturity dates will be respectively February 1 and June 1 of the following years.   

Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the rate chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will not be compounded on the account. Interest will be credited to the account at maturity. If the account is closed before interest is credited you will not receive the accrued interest at the end of the club account period June 15, 2007, the funds in the account will be mailed to you by check.

Balance Information: we use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Limitations: Deposits must come from an automatic transfer from an existing checking account or a direct deposit through payroll deduction. Withdrawals made from this account will close the account and result in a forfeiture of all accrued interest and a $20.00 fee.