SAVINGS
- Interest is compounded daily and
credited quarterly
- Quarterly statements
- $25.00 minimum opening deposit
- Limit 3 withdrawals per quarter
- Interest rate subject to change
daily
- $5.00 quarterly dormant fee after
12 months inactivity
- $1.00 excess withdrawal fee over
3 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 or deposit into a
designated account
- Interest is compounded and credited annually
- Annual percentage yield assumes interest remains
on deposit until maturity. A withdrawal will reduce
earnings.
- $1,000.00 minimum opening deposit
- No additional deposits may be made into this
account
- Withdrawals made before the maturity date may
result in the following penalties:
|
TERM |
PENALTY |
| 0-12 months |
90 days interest |
| over 12 months |
180 days interest |
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 CLUB
- Savings account with weekly,
bi-weekly or monthly electronic contributions from
checking or savings, and a check sent to the
customer or a deposit to customers 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
* 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.
For more
information contact Beth Burton
at
606-679-6341 ext. 231. |
