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Deposit Products
Savings | Personal Checking
| Business Checking
Savings
Certificates of Deposit
| IRA Account
| Passbook Savings
| Money Market Passbook
| Statement Savings
| Club Account
Certificates of Deposit
A Certificate of Deposit (often called a CD) is a type of savings
account with a fixed rate and fixed maturity. That means that the
interest rate on the money deposited is guaranteed, as long as the
money remains in the bank for the time shown on the certificate. There
is an interest penalty if all or part of the deposited money is
withdrawn before the maturity date.
Features
This is an FDIC insured deposit. The interest rate is fixed for the
term of the certificate. Interest is compounded daily and paid or
credited monthly. Certificates may be automatically renewed at
maturity. You will have seven (7) calendar days from the maturity
date to withdraw your funds without being charged a penalty. The
interest rates paid vary by maturity and may be found on the current
rate sheet. The minimum balance required to open this account is
$500 and additional deposits are not permitted. Your interest rate
and annual percentage may change at our discretion. Interest begins
to accrue on the day you deposit cash/non-cash items. Please call
for additional details.
Rates
Interest is compounded daily and paid or credited monthly.
Certificate rates are found on the current rate sheet. Early
withdrawal penalties apply.
IRA Account
An Individual Retirement Account (IRA) is a deposit account, which
permits an individual to shelter a certain amount of funds a year in a
tax deferred investment account. There are several types of IRA plans
available to the depositor: Traditional IRA, Roth IRA, and ESAs.
Features
This is an FDIC insured deposit. Please call for additional details
Rates
Rates vary according to the type and term of certificate.
Passbook Savings
This is the traditional Savings Account where all transactions and
balances are entered into a passbook, which many depositors call
'their bank book'.
Features
This is an FDIC insured deposit. The passbook is the depositor’s
primary record and should be presented at all transactions. Interest
on this account is compounded continuously and credited monthly. The
minimum amount required to open this account is $10. The minimum
balance required to obtain the Annual Percentage Rate is $10. Your
interest rate and annual percentage rate may change at our
discretion. Interest begins to accrue on the day you deposit
cash/non-cash items. All deposits are subject to collection before
withdrawal. Please call for additional details.
Rates
Current rates can be found on our rate sheet.
Money Market Passbook
This account is similar to a Passbook Savings Account and is
recommended for those depositors who maintain a higher balance.
Features
This is an FDIC insured deposit that has deposit tiers. Interest is
paid on the full balance in the account at the rate that corresponds
to that deposit tier. If the balance falls below the minimum
requirement, the rate will be adjusted to the current NOW account
rate. The minimum balance that is required to open this account is
$1000. All deposits are subject to collection before withdrawal.
Interest is compounded daily and credited monthly. Please call for
additional details.
Rates
Current rates can be found on our rate sheet.
Statement Savings
This is a savings account for people who don’t like the necessity
of carrying their passbook when making deposits or withdrawals.
Instead, they prefer to keep track of their transactions in a
register, and receive a monthly statement, similar to a checking
account. A free Star ATM card is available which permits 24 hour
banking convenience at ATMs everywhere.
Features
This is an FDIC insured deposit. No passbook is required for
transactions. The depositor receives a monthly statement of
transactions similar to a checking account. Interest on this account
is compounded continuously and credited monthly. The depositor is eligible
to receive a free Star ATM card. The minimum balance required to
open this account is $10. All deposits are subject to collection
before withdrawal. Free telephone banking is available for this
account. Please call for additional details.
Rates
Current rates can be found on our rate sheet.
Club Account
Holiday Club and Vacation Club accounts, are structured seasonal
savings plans that were originally developed to permit savers to
accumulate money for holiday shopping or a planned vacation. The
depositor receives a passbook and makes weekly deposits during the
term of the club.
Features
This is an FDIC insured deposit. Interest is compounded daily and
credited at maturity. Clubs are structured in $1, $2, $5, $10, and
$20 increments. Please call for additional details.
Rates
Current rates can be found on our rate sheet.
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