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.
  • Accrual of Interest: Interest begins to accrue no later than the business day you receive credit for the deposit of noncash items.
  • Transaction limitations: Preauthorized debits (telephone transfers, electronic funds debits, etc.) are limited to six (6) per calendar month. There are no limitations on ATM withdrawals or in-person withdrawals.
  • Dormant fee: I must make a deposit or a withdrawal at least once every 365 days or maintain a minimum balance of $500.00 or I will be charged $3.00 per month.

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  • Transaction limitations: Cannot be withdrawn prematurely.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)

  • Minimum deposit to open the account: $1000.00
  • Withdrawals of the principle 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.
  • Compounding and Crediting: Interest for this account is compounded quarterly. Interest is credited quarterly unless requested differently and interest begins to accrue on the business day that you deposit any noncash items.
  • Transaction Limitations: I may not make withdrawals of the principle 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 principle before maturity, a penalty will be assessed. The penalty is calculated on the current balance in the account and will be:
    • 1 months’ interest on 1 month to 12 month terms or less
    • 3 months’ interest on 13 months to 59 month terms
    • 6 months’ interest on 60 month term or more
    You must permit withdrawal without penalty if any owner dies or is determined to be legally incompetent.
  • 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)

  • Minimum deposit to open the account: $250.00
  • Withdrawals of the principle are not permitted, except to close the account.
  • Rate Information:
    The interest rate on my account is ___% with an annual percentage yield ___%. The interest is compounded quarterly and will remain on deposit until maturity. If I receive my interest in the form of a check or deposit to another account, my annual percentage yield will be the same as the annual percentage rate. The interest rate will remain fixed until the certificate matures.
  • Balance Computation:
    You use the daily balance method to determine the balance on which interest is calculated on this account. This method applies a periodic rate to the balance in the account each day.
  • Compounding and Crediting:
    Interest will begin to accrue on the day of the deposit. I can elect my interest to have my interest added back to the certificate, paid by check, or deposited to another account. The interest is compounded quarterly and paid quarterly unless requested differently.
  • Transaction Limitations:
    Additional deposits are allowed for this certificate. The additional deposit amount must be at least $25.00 per deposit. I will be allowed to withdraw any interest that has been credited back to the certificate of deposit without being assessed a penalty. If I withdraw interest before maturity, my earnings will be reduced and I will not receive the annual percentage yield disclosed above. Seven (7) days prior written notice may be required to effectuate any withdrawals.
  • 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 my CD before maturity, I will be assessed a substantial penalty. This penalty will be equal to all the interest earned or accrued since opening the certificate or the last renewal date if the certificate has been renewed. You must permit withdrawal without penalty if any owner dies or is determined to be legally incompetent.
  • Renewal Policy:
    This account will be automatically renewed at maturity. If the balance of the certificate has reached the minimum deposit amount for a regular certificate has reached the minimum deposit amount for a regular certificate of deposit, it will renew at the regular 12-month cd rate. I have a grace period of 10 calendar days after maturity to redeem the certificate

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

  • Minimum deposit to open the account: $1000.00
  • Minimum monthly balance to avoid a monthly service charge: $1000.00
  • 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. 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:
    • $1000 - $24999
    • $25000 - $49999
    • $50000 - $99999
    • $100000 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.
  • 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.
  • Accrual of Interest: Interest begins to accrue no later than the business day you receive credit for the deposit of noncash items.
  • Minimum monthly balance required to earn annual percentage yield: $1000.00
  • Monthly balances and service charges: $999.99 or less $6.00
  • Compounding and Crediting: Interest will be credited to my account on the last day of the statement period. The number of days between statements will vary according to the statement-printing schedule. If I close my account before interest is credited, I will not receive any accrued interest.
  • 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, wire; 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.