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TRUTH IN SAVINGS ACT
The FDIC Improvement Act of 1991 contained within it the Truth in Savings Act. The purpose of this act is to enable consumers to make informed decisions about deposit accounts in depository institutions.
CERTIFICATES OF DEPOSIT
Interest will be credited to your account or paid to you monthly, quarterly, semi-annually, annually, at maturity or as agreed upon.
The annual percentage yield (APY) assumes that interest remains on deposit until maturity. A withdrawal will reduce earnings.
After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until the maturity date.
PREMATURE WITHDRAWAL OF FUNDS REPRESENTED BY TIME DEPOSITS WITH AN ORIGINAL MATURITY OF 32 DAYS OR MORE
Depositor contracts to keep these funds on deposit until maturity date. In the event of withdrawal of all or any portion of a Certificate of Deposit or Savings Certificate with a maturity of less than 1 year before the maturity date, Federal Regulations require a penalty equal to 1 month's interest. If the maturity of the Certificate of Deposit or Savings Certificate is in excess of 1 year, the penalty required is equal to 3 month's interest. The application of these penalties may require a reduction in the principal amount of the deposit.
- Example 1 - If the depositor withdraws funds from a 6 months' Certificate of Deposit or Savings Certificate after 15 days, the penalty would be equal to 1 month's interest, even though that much interest has not yet been earned and a reduction of the principal would be necessary.
- Example 2 - If the depositor withdraws funds from a 6 months' Certificate of Deposit or Savings Certificate after 1 month, the penalty would be an amount equal to 1 month's interest.
- Example 3 - If the depositor withdraws funds from a 1% year Certificate of Deposit or Savings Certificate after 15 days, the penalty would be an amount equal to 3 months' interest, even though that much interest has not yet been earned and a reduction of the principal would be necessary.
Renewal Policy: If your Certificate is SINGLE MATURITY and does not automatically renew, present It PROMPTLY at maturity as no Interest is payable after the maturity date.
If your Certificate will AUTOMATICALLY RENEW, you will have a grace period of 10 days from the maturity date to present this certificate for payment without penalty. If the certificate automatically renews, IT WILL BE RENEWED AT THE RATE IN EFFECT AT THIS INSTITUTION ON THE DATE OF MATURITY.
| Account Type | Minimum Deposit To Open Account | Minimum Balance To Obtain APY | Interest Rate | Compounded | Annual Percentage Yield |
| 91 day CD | $500.00 | $500.00 | See Rate Sheet | At Maturity | See Rate Sheet |
| 182 day CD | $500.00 | $500.00 | See Rate Sheet | At Maturity | See Rate Sheet |
| 0 | 0.000 | 0.000 | See Rate Sheet | At Maturity | See Rate Sheet |
| 12 month | $500.00 | $500.00 | See Rate Sheet | At Maturity | See Rate Sheet |
| 24 month CD | $500.00 | $500.00 | See Rate Sheet | At Maturity | See Rate Sheet |
| 60 month CD | $500.00 | $500.00 | See Rate Sheet | At Maturity | See Rate Sheet |
ADDITIONAL FEES & SERVICES
| Activity Printout of Account | $1.00 per page |
| ACH Stop payment | $22.00 |
| Balance of Account Inquiry | $1.00 |
| Legal Processes which affect your account (I.e., garnishments, citations, etc.) | $15.00 |
| Balancing of Account: Research & Reconciliation | $10.00 per hour |
| Transfer of Funds between interbank accounts | $2.00 each |
| Check Cashing (Noncustomer) | below $250.00 - $2.00 over $250.00 - $5.00 |
| Money Orders | $2.00 |
| Travelers Checks | $1.00 per $100.00 |
| Certified Check Fee | $5.00 |
| Wire Transfers (per item) | $10.00 - incoming $15.00 - outgoing |
| Collection Items | $5.00 plus external bank charges |
| Fax Machine | $3.00 1st page $1.00 per additional page |
SAFE DEPOSIT BOXES
| 3x5 | $15.00 |
| 5x5 | $20.00 |
| 3x10 | $25.00 |
| 5x10 | $35.00 |
| 10x10 | $50.00 |
