Savings

Savings Products

Whether you are saving for a rainy day, college, vacation or even retirement, we have just the account for you.


Passbook Savings

Easy access to your money with interest.


Statement Savings

  • Minimum deposit to open: $10.00
  • Minimum monthly balance required to avoid service charge: None
  • Rate information: The interest rate on my account is _____% with an annual percentage yield of _____%. I will be paid this rate for at least 30 days
  • Minimum monthly balance required to earn annual percentage yield: None
  • Frequency of interest rate changes: you may change the interest rate on my account at any time
  • Determination of interest rate: At your discretion, you may change the interest rate for my account
  • Balance computation Method: You use the daily collected balance method to determine the balance on which my interest is calculated. This method applies a periodic rate to the collected balance in the account each day
  • Compounding and crediting frequency: Interest will be compounded and credited on the last day of March, June, September, and December. If I close my account before interest is credited, I will not be paid any accrued interest
  • Transaction limitations: Preauthorized debits (telephone transfers, electronic funds debits, etc.) are limited to three (3) per calendar month. There are no limitations on ATM withdrawals or in-person withdrawals
  • To avoid a service charge, you must make a deposit or a withdrawal at least once every 365 days or maintain a minimum balance of $500

Christmas Club

  • Minimum deposit to open the account: One Payment
  • Payment amount options: $5.00, $10.00, $15.00, $20.00, $25.00, $30.00, $40.00, $50.00, and $65.00
  • Rate information: Interest is in the form of the 50th payment, which will be paid at the end of the Club cycle
  • Requirements to obtain final payment: Complete all 49 payments within the 50 week program
  • Service Charges: None
  • Fees: None
  • Transaction limitations: Cannot be withdrawn prematurely
  • Accounts can be opened only during a certain period of time each year

Certificate of Deposit (CDs)

Deposits for a specific term. (Substantial penalty for early withdrawal).1

  • Minimum deposit to open the account: $1000. Withdrawals of the principal are not permitted, except to close the account
  • Rate information: The interest rate on my account is ____% with an annual percentage yield ____%. This rate and APY will be in effect until the maturity date. The APY assumes that interest is compounded quarterly and will remain on deposit until maturity
  • Balance Computation Method: You use the daily balance method to calculate the interest on this account. This method applies a periodic rate to the balance in the account each day
  • Transaction Limitations: I may not make withdrawals of the principal before maturity without incurring early withdrawal penalties. You will not allow interest to be withdrawn from the account more than once in any calendar month. You may require seven (7) days prior notice to effectuate any withdrawals. I may not make additional deposits to this account. You will permit early withdrawal without penalty if the owner dies. You may allow me to withdraw any interest paid or accrued on the account without penalty
  • Effect of Closing the Account: If I close the account prior to the maturity date or after the grace period, you may pay me any accrued interest on the account and deduct any early withdrawal penalty
  • Early Withdrawal Penalty: If I withdraw the principal before maturity, a penalty will be assessed. The penalty is calculated on the current balance in the account and will be:
    • 1 month interest on 1 month to 12 month terms or less
    • 3 months interest on 13 month to 59 month terms
    • 6 months interest on 60 month term or more
    • Renewal Policy: This account will be automatically renewed at maturity. I have a grace period of 10 calendar days after maturity to withdraw the funds without being charged a penalty. If I withdraw the funds during the grace period, I will not receive any interest accrued since maturity

Junior Certificate of Deposit (CDs)

"Starter" CDs requiring a minimum original deposit of $250. These special CDs are designed to start customers on their path of savings. Additional deposits of $25 or more are accepted. There is a rate increase at the next renewal after balance reaches $1000. (Substantial penalty for early withdrawal).1


Individual Retirement Accounts (IRAs)

For your personal retirement needs. Deposits of $25 or more are accepted at your convenience. The regular contribution limit is determined by the IRS and may be adjusted.


Money Market Account

A timed savings deposit that pays interest.1

  • Minimum deposit to open the account: $1,000.00
  • Minimum monthly balance to avoid a monthly service charge: $1,000.00
  • Rate information: The interest rate on my account is ____% with an annual percentage yield ____%. I will be paid this rate for at least 30 calendar days. (At your discretion, you may change the interest rate for my account.) The interest rate will be based on my balance daily and will draw a different amount depending on my balance category. Your categories are set up as follows:
    • $ 1,000 - $24,999
    • $25,000 - $49,999
    • $50,000 - $99,999
    • $100,000 and up
    The interest will be credited to my account on the last day of the statement period. The daily collected balance method is used to determine the balance on which my interest is calculated
  • Minimum monthly balance required to earn annual percentage yield: $1,000.00
  • Monthly balances and service charges: $999.99 or less $6.00
  • Statement type: A monthly statement will be provided with check images
  • Transaction limitations: Permitted to make no more than six “convenient” transfers per calendar month to a third party or to another account with you by means of check, drafts, debit card PIN or POS, and similar order third party, ACH Direct Debits and Restricted Transfers through ATS, online banking, voice response, mobile banking, wires; not more than three of these transfers may be in the form of a check. There are no limitations on ATM withdrawals or in-person withdrawals. You have the right to require seven days prior notice for withdrawals

1Call for our current interest rate.