Disclosures
Savings
- Interest is compounded daily and credited quarterly
- Quarterly statements
- $25 minimum opening deposit
- If balance falls below $25, no interest will be accrued
- If balance falls below $100, a $3 service charge will be incurred
- Limit 6 withdrawals per quarter
- Interest rate subject to change monthly
- $5.00 quarterly dormant fee after 12 months inactivity
- $1.00 excess withdrawal fee over 6 withdrawals per quarter
Certificate of Deposits
- Various terms ranging from 30 days to 36 months
- Regular CD’s automatically renew – Specials do not
- Interest is paid until maturity of the certificate of deposit
- Interest may be paid by check, deposit into a designated account or added back to the CD.
- Interest is compounded and credited at maturity, monthly, quarterly, semiannually or annually.
- Annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
- Minimum opening deposits: $1,000.00 – $5,000.00 – $10,000.00
- No additional deposits may be made into this account with the exception of our 12 month add-on CD
- Withdrawals made before the maturity date may result in the following penalties:
18 Months Fixed Individual Retirement Account
- Interest is compounded and credited annually
- Contributions may be tax deductible
- Interest income may be tax deferred
- $2,000.00 minimum opening deposit *
- Withdrawals before age 59 ½ may be subject to penalty
18 Months Variable Individual Retirement Account
- Interest is compounded and credited annually
- Contributions may be tax deductible
- Interest income may be tax deferred
- $40.00 minimum opening deposit **
- Withdrawals before age 59 ½ may be subject to penalty
- Interest rate subject to change the first day of each month
Roth Fixed Individual Retirement Account
- Interest is compounded and credited annually
- Contributions are not tax deductible
- Withdrawals are tax-free for certain distributions after five years
- $2,000.00 minimum opening deposit *
Roth Variable Individual Retirement Account
- Interest is compounded and credited annually
- Contributions are not tax deductible
- Withdrawals are tax-free for certain distributions after five years
- $40.00 minimum opening deposit **
Educational Individual Retirement Account
- Interest is compounded and credited annually
- Contributions are not tax deductible
- Tax-free withdrawals for child’s education
- $40.00 minimum opening deposit
- Limited to educational expenses only to avoid 10% penalty
Christmas & Vacation Club Accounts
- Savings account with weekly, bi-weekly or monthly electronic contributions from checking or savings
- Interest will be paid by check or deposited to customer account at maturity
- Account is automatically renewable on an annual basis, with a fourteen (14) day grace period
- Interest is compounded daily
- Interest is credited annually
- No statements
- $2.00 minimum opening deposit
- Deposits by electronic transfer only
- Interest rate subject to change daily
Funds Availability Policy
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. In some cases, however, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit.
Due to amendments to the Expedited Funds Availability Act by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), the amount of deposited funds that banks must make available for withdrawal in the event you are not given immediate credit for your deposit has increased from $200 to $225. The effective date of this provision is July 1, 2020. As a result, the first $225 of your deposits will be available on the first business day after the day of your deposit. Please refer to the disclosure in its entirety by clicking here.
* A penalty will be imposed for early withdrawal.
** A penalty will be imposed for early withdrawal. The interest rate and annual percentage yield may change after account opening.
Trust us with all your checking needs.
We have a wide variety of personal checking accounts to meet your unique needs.