ALL PURPOSE CLUB ACCOUNTS

A convenient way to save for a planned vacation, taxes, whatever purpose you have in mind! You can use a coupon book, or transfer automatically from an existing deposit account at the Bank.

Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield will not change for at least thirty (30) calendar days. We agree to give you thirty (30) days advance written notice prior to decreasing the rate. Interest begins to accrue on the business day you deposit noncash items (for example, checks), if received by 3:00 p.m. Interest will be compounded annually and will be credited to the account annually.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1.00 in the account each day to obtain the disclosed annual percentage yield.
 

Limitations: You must deposit $1.00 to open this account. You may open this account at any time during the year. Payments may be made by coupon or automatic transfer from an existing deposit account. You select the dollar amount and the length of time you want to save. Preauthorized transfers are not allowed from this account. Should you wish to withdraw funds from this account, the entire balance must be withdrawn and this account will close.

 

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