Savings
Savings Accounts
Christmas Club Savings
A Christmas Club Savings Account may be opened with a minimum deposit of $1.
- A payment book will be issued or you can choose to have the payment automatically transferred from your checking or savings weekly.
- No individual withdrawals will be allowed from the account.
- If you choose to withdraw any money, you must withdraw the whole balance and the account will be closed.
- The Christmas Club account has an interest rate of .50%
- A check will be issued in October for whatever is deposited in the account plus interest.
Vacation Club Savings
A Vacation Club Savings Account may be opened with a minimum deposit of $5, maximum deposit of $200.
- Auto transfer available for your convenience.
- No individual withdrawals will be allowed from the account.
- The Vacation Club account has an interest rate of .50%
- A check will be issued in for whatever is deposited in the account plus interest.
Passbook Savings Account
- A Passbook Savings Account may be opened with a minimum deposit of $25.
- You will be issued a passbook and must have this instrument to make deposits and withdrawals to the account.
- Transfers from a passbook savings account to another account or a third party by preauthorized, automatic or telephone transfer are limited to six per statement month.
- The interest rate and annual percentage yield may change.
- The rate may change at any time, at our discretion of the Board of Directors.
- Interest will be compounded and credited at the end of each quarter.
- 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.
- Interest begins to accrue on the business day when you deposit cash or noncash items (for example, checks).
- If you close your account before interest is credited, you will not receive the accrued interest.
Passbook Savings Fees:
- Closing a passbook savings within 180 days of opening may result in a $10 fee being charged.
- Losing a passbook within 180 days of opening may result in a $10 fee being charged.
- An excess transaction fee of $1 will be charged for each withdrawal in person over five per month.
We may require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.