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a person downloading an app on his phoneConcordia Bank & Trust Co.Concordia Bank & Trust Co.
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Christmas Club

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Variable Interest Rate Information

See the rate sheet for the interest rate and annual percentage yield on your account. Your interest rate and annual percentage yield may change. We use the market to determine interest rates. At our discretion, we may change the interest rate on your account. We may change the interest rate on your account at any time.

Compounding and Crediting

Interest will not compound on this account. Interest will be credited to your account annually. If you close your account before interest is credited, you will not receive the accrued interest.

Minimum Balance Requirements

Minimum Opening Deposit $1.00

Balance Computation Method

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.

Accrual on Non-Cash Deposits

Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Fees & Charges

Early Closing Fee $5.00

Additional Disclosure Information

Regular electronic deposits into this account are required. Additional deposits may be made electronically or in person.

The depositor must maintain an active checking or savings account with the bank.

Partial withdrawals are not allowed.

The account balance plus interest is deposited by automatic funds transfer to the designated deposit account by the end of October each year.

Statement Period – No statement sent

We reserve the right to require at least seven days written notice before any withdrawal or transfer from this account.