Personal Savings Accounts

Statement Savings

Benefits

• Earns competitive high yielding variable interest rate*
• Direct deposit available
• Rates subject to change at any time
• 24 hour account inquiry information
• Interest paid is based on collected balances, compounded and credited monthly
• 24 hour ATM Cash Card access

Fees

• No service charge if a daily balance of $100 or more is maintained
•  If balance is below $100, a monthly $1.00 service charge is accessed
• If balance falls below $100, there is a $0.25 per withdrawal fee
• ATM fees apply (see Transactional Account Fees)
• Exceptions to service charges: Minors (under the age of 18 upon request)

*Rates are subject to change at any time.

Christmas Club Savings

Benefits

• Earns competitive high yielding variable interest rate*
• Planned savings for the Holiday Season
• Flexible periodic payments allowed
• Check mailed in time for Christmas shopping, no other withdrawals allowed
• Interest is credited on the maturity date

Fees

• No service charges

*Rates are subject to change at any time.

Certificates of Deposit

Benefits

• Attractive interest rates based on current market conditions
• Fixed interest rate for entire term of the certificate, compounding varies based on product
• Maturities of 7 days to 5 years
• 24 hour account inquiry information

Fees

• No service charges
• Minimum balance is $1,000
• Subject to penalty for early withdrawal

Individual Retirement Accounts (IRA)

Traditional IRA

Benefits

• Attractive interest rates based on current market
• Compounding varies based on product
• Current rates posted in the bank lobby
• Tax deferral of earnings

Fees

• No service charges
• Funds contributed to an IRA may not be withdrawn without penalty before the person reaches the age of 59 1/2 years
• Subject to penalty for early withdrawal

Roth IRA

Benefits

• Attractive interest rates based on current market
• Compounding varies based on product
• Current rates posted in the bank lobby
• Tax exempt earnings

Fees

• No service charges
• Earnings on a Roth IRA may not be withdrawn without IRS penalty unless certain criteria are met. Please see a New Accounts Representative or your IRA account literature for more information
• Subject to penalty for early withdrawal

The following penalty may be charged to your certificate of deposit or individual retirement account if you withdraw any principal before the maturity date:

1. For deposits with original maturities of less than one month, the penalty will be the forfeiture of simple interest that could have been earned on the amount withdrawn had the funds remained on deposit until maturity.
2. For deposits with original maturities of at least 31 days but less than one year, the penalty will be the forfeiture of 30 days simple interest on the amount withdrawn.
3. For deposits with original maturities of one year but less than two years, the penalty will be the forfeiture of 90 days simple interest on the amount withdrawn.
4. For deposits with original maturities of two years or more, the penalty will be the forfeiture of 180 days simple interest on the amount withdrawn.
   • If sufficient interest has not accrued at the time of withdrawal, principal will be reduced to the extent necessary to meet the required penalty.
   • The amount of the penalty will be calculated using the interest rate in effect on your account at the time of withdrawal.
   • Early withdrawals made because of the death or the judicially declared incompetence of a depositor will not be penalized.
   • Early withdrawal penalties may not always apply to IRA  accounts. See your IRA account literature for details.

Health Savings Accounts

We are pleased to offer Health Savings Accounts (HSA’s). HSA’s have been created by Congress to assist in offsetting the burden brought on by rising health care costs by providing an incentive for consumers to pay “first dollar” medical expenses. An HSA is generally available to people currently covered by a high deductible health plan regardless of the type of employment they have. There are tax benefits to utilizing an HSA as well as certain restrictions for which HSA contributions can be used. There are also limits for contributions to an HSA. If you are interested in getting more information, stop in to any of our locations and see a New Accounts Representative!