Truth in Savings

– Truth in Savings Act
– Account Descriptions
– Savings Accounts
– Penalty for Early Withdrawal
– Additional Fees and Services

Dear Customer:

Federal and state banking laws govern much of our relationship with you. In particular, laws concerning negotiable instruments, deposit accounts and how we treat activity of these accounts. Complete disclosures of our fees and charges are in this brochure. Please retain for your records.

Truth In Savings Act

The FDIC Improvement Act of 1991 contained within it the Truth in Savings Act. The purpose of this act is to enable consumers to make informed decisions about deposit accounts in depository institutions.

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Account Descriptions:

Totally Free Checking

• Minimum Opening Deposit: $25.00

• Statement Period: Monthly

• Balancing of Statement: $10.00 per hour

• Cost of check printing varies depending on the style of checks ordered

• Insufficient Funds Charge (per item): $30.00

• Stop Payment Charge (per item): $30.00

• Wire Transfers (outgoing): $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for 4 years

• Checks and deposit slips are not returned with monthly statement.

Interest Checking

• Minimum Opening Deposit $750.00

• Statement Period: Monthly

• A service charge of $7.00 will be assessed if the balance falls below $750.00 at any time during the statement period

• A charge of $.15 will be assessed for each withdrawal over 15 if the balance falls below $750.00

• Interest Rate - Please contact us for current rates

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest will be compounded Monthly

• Interest credited Monthly

• On non-cash items, interest will begin to accrue on the next business day

• If you close your account before the interest is credited, you will not receive the accrued interest

• At our discretion, we may change the interest rate on your account at any time

• Balancing of Statement $10.00 per hour

• Cost of check printing varies depending on the style of checks ordered

• Insufficient Funds Charge (per item) $30.00

• Stop Payment Charge (per item) $30.00

• Wire Transfers (outgoing) $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for 4 years

• This account is not available to for-profit corporations

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Reward Checking Account

Minimum deposit to open account - $25.00

Minimum balance to avoid fees – there is no minimum balance required on this account

Rate Information – Interest will be based on tiers. The daily balance in your account will determine which tier of interest will be used to calculate your interest for that day. Interest is compounded and credited on a monthly basis. Interest paid will be determined by the daily balance and the successful completion of all eligibility requirements shown below. The interest rate and APY on any tiers may change at any time. See rate sheet for current interest rate and annual percentage yield for each respective tier.

Tiered balance requirements for interest rates:
$0.00 - $24, 999.99
$25,000 or more

Daily balance computation – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Interest compounding and crediting frequency – Interest is compounded and credited to your account monthly. Interest paid will be determined by the daily balance and successful completion of all account requirements shown below. You will be paid the higher rate of interest on your first statement cycle regardless of whether or not you met the requirements. On non-cash items, interest begins to accrue on the next business day. If you close your account before the interest is credited, you will not receive the accrued interest.

Eligibility Requirements – To qualify for Reward Checking rates, you must:

• Make 12 debit card point of sale transactions per “qualification cycle” (excludes ATM transactions)
• Have one direct deposit or ACH debit per qualification cycle
• Maintain a valid e-mail address which you agree to provide to the bank
• Receive your monthly statement electronically during the qualification cycle (when this service is available)

Statement Period – The statement for this account will be generated monthly on the fourth Wednesday. The qualification cycle means a period beginning one day prior to the last statement through one day prior to the next statement.

ATM Fees – If you meet the account eligibility requirements, we will automatically refund the ATM fees applied to your account including surcharges of less than $5 that are imposed when using another bank’s ATM.

Advantage Club Account

• Minimum Opening Deposit $100.00

• Monthly Maintenance Fee $5.00

• Interest Rate - Please contact us for current rates

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest will be compounded Monthly

• Interest credited Monthly

• On non-cash items, interest will begin to accrue on the next business day

• If you close your account before the interest is credited, you will not receive the accrued interest

• Interest will be paid on balances of $500.00 or more

• At our discretion, we may change the interest rate on your account at any time

• Statement Period: Monthly

• Balancing of Statement $10.00 per hour

• Insufficient Funds Charge (per item) $30.00

• Stop Payment Charge (per item) $30.00

• Wire Transfers (outgoing) $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for 4 years

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Advantage 50 Club Account

• Minimum Opening Deposit $100.00

• Monthly Maintenance Fee $4.00

• Interest Rate - Please contact us for current rates

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest will be compounded Monthly

• Interest credited Monthly

• On non-cash items, interest will begin to accrue on the next business day

• If you close your account before the interest is credited, you will not receive the accrued interest

• Interest will be paid on balances of $500.00 or more

• At our discretion, we may change the interest rate on your account at any time

• Statement Period: Monthly

• Balancing of Statement $10.00 per hour

• Insufficient Funds Charge (per item) $30.00

• Stop Payment Charge (per item) $30.00

• Wire Transfers (outgoing) $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for 4 years

• You must be 50 years of age or older to open this account

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

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Savings Accounts

Statement Savings

• Minimum Opening Deposit $100.00

• ($25.00 for minors, students, clubs and churches)

• Interest Rate - Please contact us for current rates

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest will be compounded Quarterly

• Interest credited Quarterly

• On non-cash items, interest will begin to accrue on the next business day

• If you close your account before the 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

• Statement Period: Semi-annually

• Transaction Limitations: Six withdrawals per statement period. Charge of $2.00 per withdrawal after six

• Wire Transfers (outgoing) $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for 4 years

• A fee of $25.00 will be assessed if the account is closed within the first six months of opening the account

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Christmas Club Savings Account

• Minimum Opening Deposit $25.00

• Interest Rate See Rate Sheet

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest will be compounded Quarterly

• Interest credited Quarterly

• On non-cash items, interest will begin to accrue on the next business day

• If you close your account before the 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

• Statement Period: Semi-annually

• A fee of $5.00 per withdrawal will be assessed for withdrawals over one per statement period

• Wire Transfers (outgoing) $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for four years

• A fee of $25.00 will be assessed if the account is closed before the scheduled pay out date

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Money Market Account

• Minimum Opening Deposit $1,000.00

• Interest Rate - Please contact us for current rates

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest will be compounded Monthly

• Interest credited Monthly

• On non-cash items, interest will begin to accrue on the next business day

• If you close your account before the 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

• Statement Period: Monthly

• A fee of $2.00 per withdrawal/transfer over six per monthly statement period will be assessed

• A monthly maintenance fee of $7.00 will be assessed if the balance drops below $1,000 at any time during the monthly statement period

• Insufficient Funds Charge (per item) $30.00

• Stop Payment Charge (per item) $30.00

• Wire Transfers (outgoing) $15.00

• Annual charge of $60.00 on each dormant account after account has been inactive for 4 years

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.

Individual Retirement Accounts

• Minimum Opening Deposit $250.00

• Interest Rate - Please contact us for current rates

• Annual Percentage Yield (APY) - Please contact us for current rates

• Interest Computation Method Daily Balance*

• Interest credited At Maturity

• 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

• Statement Period: Annually

• Your interest rate and annual percentage yield may change

• At our discretion, we may change the interest rate on your account at any time. Interest rates will be determined by current rate in effect on maturity date for self-renewing accounts

• PENALTY FOR EARLY WITHDRAWAL - 1 month interest on maturities of 12 months or less; 3 months interest on maturities longer than 12 months

*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day. Special rules apply to these accounts concerning contributions and distributions. See a Customer Service Representative for details.

Certificates of Deposit

Interest will be credited to your account or paid to you monthly, quarterly, semi-annually, annually, at maturity or as agreed upon. The annual percentage yield (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 the maturity date. Interest begins to accrue on the business day you deposit any non-cash items (for example - checks).

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Penalty for Early Withdrawal

Maturity of 7-31 days - the greater of (1) all interest earned on the amount withdrawn from the most recent of the date of deposit or last renewal, or (2) all interest that could have been earned on the amount withdrawn during a period equal to one-half of the maturity period, or (3) an amount at least equal to 7 days interest earned.

Maturity of 32 days or up to one year - an amount at least equal to one month of interest earned or that could have been earned.

Maturity of more than one year - an amount at least equal to three months of interest earned or that could have been earned.

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.

Interest Computation Method Daily Balance*
*The daily balance is determined by the application of a daily periodic rate to the full amount of principal in the account each day.
 

Account Type		Interest Rate/APY		Compounded
3 month CD		Contact Us		Quarterly
6 month CD		Contact Us		Semi-annually
12 month CD		Contact Us		Annually
24 month CD		Contact Us		Annually
36 month CD		Contact Us		Annually
60 month CD		Contact Us		Annually
24 month IRA CD		Contact Us		Annually

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Other Fees

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