Truth-in-Savings Disclosure
TRUTH-IN-SAVINGS DISCLOSURE
Your account is a master deposit account which consists of two subaccounts: a transaction account and a nontransaction account. We will make internal transfers between these two subaccounts however that will have no effect on your account or your ability to use it. See your account agreement for additional information..
CONVENIENCE CHECKING ACCOUNT
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - If your balance falls below $200.00 on any day in the statement cycle we will impose a maintenance fee of $5.00 once during the statement cycle.
Check limitations: 10 free checks per statement cycle there after each additional check will be $0.40 each.
PREMIER CHECKING ACCOUNT
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - If your balance falls below $900.00 on any day in the monthly statement cycle we will impose a maintenance fee of $9.00 once during the statement cycle.
Fees:
The maximum fee that will be charged to this account is $9.00.
SENIOR CHECKING ACCOUNT
(For persons over age 60)
Minimum balance to open the account - You must deposit $100.00 to open this account.
SENIOR PLUS CHECKING ACCOUNT
(To open this account you must also have the
Senior Plus Savings account and be age 60 or better)
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
E - ACCOUNT
Minimum balance to open the account - You must deposit $100.00 to open this account.
- No monthly maintenance fee
- Free Visa Check Card
- Electronic withdrawals only
- Free online Banking, Bill Payment and ATM transactions
SENIOR PLUS SAVINGS ACCOUNT
(To open this account you must also have the
Senior Plus Checking account and be age 60 or better)
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $5,000.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $5.00 will be imposed every month if the balance in the account falls below $5,000.00 any day of the month.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Senior Plus Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees:
An excess withdrawal fee of $3.00 will be charged for each withdrawal other than ATM withdrawals in excess of two during a monthly cycle.
INTEREST CHECKING ACCOUNT
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - If your balance falls below $1,500.00 on any day in the monthly statement cycle we will impose a maintenance fee of $12.00 once during the statement cycle.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance over $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
MONEY MANAGEMENT ACCOUNT
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $14.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance over $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Money Management account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by debit card or similar order to third parties are limited to six per statement cycle.
Fees:
A transaction fee of $10.00 will be charged for each check or draft in excess of six during a statement cycle.
SAVINGS ACCOUNT
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $200.00 any day of the month.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees:
An excess withdrawal fee of $3.00 will be charged for each withdrawal other than ATM withdrawals in excess of two during a month.
HIGH FIVE SAVINGS ACCOUNT
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $5,000.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $10.00 will be imposed every month if the balance in the account falls below $5,000.00 any day of the month.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a High Five Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees:
A teller withdrawal fee of $5.00 will be charged for each teller withdrawal in excess of two during a month.
We will charge you a closeout fee of $5.00 if the account is closed within five months.
YOUTH SAVINGS ACCOUNT
(For age 18 and under)
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $25.00 to open this account.
Minimum balance to avoid imposition of fees - A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $25.00 any day of the month.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction limitations:
Transfers from a Youth Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.
Fees:
A withdrawal fee of $3.00 will be charged for each withdrawal in excess of two during a month.
---------------------------- CERTIFICATE OF DEPOSIT
Rate Information (fixed rate account) - The interest rate on your account is
----------% with an annual percentage yield of ----------%. You will be paid this rate until first maturity.
Rate Information (variable rate account) - The interest rate on your account is ----------% with an annual percentage yield of ----------%. Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account and it will be subject to change on the first business day of each month. Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding frequency - Interest will be compounded every ------------------------------------------------------------------------------------------------------ .
Crediting frequency - Interest will be credited to your account every ------------------------------------------------------------------------------------------------ .
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $------------------ to open this account.
Daily balance computation method - 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.
Accrual of interest on noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction limitations:
The minimum amount you can deposit is $500.00.
You may make withdrawals of principal from your account before maturity.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.
Time requirements - Your account will mature ---------------------------------------------------------------------------------------------------------------------- .
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -
- If your account has an original maturity of one year or less:
The fee we may impose will equal 30 days interest on the amount withdrawn subject to penalty.
- If your account has an original maturity of more than one year but less than 42 months:
The fee we may impose will equal 90 days interest on the amount withdrawn subject to penalty.
- If your account has an original maturity of 42 months or more, but less than 48 months:
The fee we may impose will equal 180 days interest on the amount withdrawn subject to penalty.
- If your account has an original maturity of 48 months or more:
The fee we may impose will equal 270 days interest on the amount withdrawn subject to penalty.
In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.
For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.
Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within ten calendar days after maturity) or we receive written notice from you within the ten calendar day grace period. If you prevent renewal, interest will not accrue after final maturity.
- Variable Rate - Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term.
- Fixed Rate - Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.
You will have ten calendar days after maturity to withdraw the funds without a penalty.
Non-automatically renewable time account - This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.
There will be an IRA set up fee of $30.00.
There will be an IRA transfer fee of $30.00.
There will be an IRA close out fee of $30.00.
COMMON FEATURES
The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.
- Check printing - (fee depends on style and quantity of check ordered)
- Counter checks - 10 for $5.00
- Deposited checks (and other items) returned unpaid - $2.00
- An account is dormant if for one year for Checking or two years for Savings and E-Account(s), you have made no deposits or withdrawals to the account. (Dormant fees will not be assessed on savings accounts with a balance of $10,000.00 or more for the entire month.)
- Dormant account fee - $5.00
- This fee is charged each month.
- Tax Levies/Garnishments/ Executions - $65.00
- The categories of transactions for which an overdraft fee may be imposed are those by any of the following means: check, in-person withdrawal, ATM withdrawal, or other electronic means.
- Overdraft - each overdraft paid - $30.00
- Nonsufficient funds - each - $30.00
- Nonsufficient funds (NSF) check - $30.00
- Stop payments - each - $25.00
- Stop payments - checks - $25.00
- Account closed within 90 days of opening - $25.00
- Photocopies - $.50 per page
- Limited Status - all months after initial month - $10.00 monthly fee
Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.
--------------------------
YOUR ACCOUNT
These are the accounts you have opened or inquired about. Further details about these accounts are inside this brochure. If the figures are not filled in, please see the insert that is with this disclosure or your periodic statement.
CONVENIENCE CHECKING ACCOUNT
PREMIER CHECKING ACCOUNT
SENIOR CHECKING ACCOUNT (For persons over age 60)
E-ACCOUNT
SENIOR PLUS CHECKING ACCOUNT
The interest rate for your account is ----------%
with an annual percentage yield of ----------%.
SENIOR PLUS SAVINGS ACCOUNT
Rate Information:
- Tier 1 - If your daily balance is $5,000.00 or more, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 2 - If your daily balance is $4,999.99 or less, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
INTEREST CHECKING ACCOUNT
Rate Information:
- Tier 1 - If your daily balance is $50,000.00 or more, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 2 - If your daily balance is more than $24,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 3 - If your daily balance is more than $9,999.99, but less than $25,000.00, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 4 - If your daily balance is more than $1,000.00, but less than $10,000.00, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
MONEY MANAGEMENT ACCOUNT
Rate Information:
- Tier 1 - If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 2 - If your daily balance is more than $49,999.99, but less than $100,000.00, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 3 - If your daily balance is more than $24,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 4 - If your daily balance is more than $1,000.00, but less than $25,000.00, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
SAVINGS ACCOUNT
The interest rate for your account is ----------%
with an annual percentage yield of ----------%.
HIGH FIVE SAVINGS ACCOUNT
Rate Information:
- Tier 1 - If your daily balance is $5,000.00 or more, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
- Tier 2 - If your daily balance is $4,999.99 or less, the interest rate paid on the entire balance in your account will be ----------% with an annual percentage yield of ----------%.
YOUTH SAVINGS ACCOUNT (For age 18 and under)
The interest rate for your account is ----------%
with an annual percentage yield of ----------%.
---------------------------- CERTIFICATE OF DEPOSIT
- 202 WEST STEVENS
- Hours: Monday through Friday
- Office - 9:00 A.M. - 5:00 P.M.
- Drive Up - 8:00 A.M. - 6:00 P.M.
- NORTHGATE SHOPPING CENTER
- Hours: Monday through Friday
- Office - 9:00 A.M. - 5:00 P.M.
- Drive Up - 8:00 A.M. - 6:00 P.M.
- WAL-MART SUPERCENTER
- Hours: Monday through Friday Lobby - 9:00 A.M. - 6:00 P.M.
- Hours: Saturday
- Lobby - 10:00 A.M. - 2:00 P.M.