Fees and Disclosures
Advantage Checking Plus Disclosure
RATE INFORMATION
Your interest rate and annual percentage yield may change.
FREQUENCY OF RATE CHANGES
We may change the interest rate on your account at any time.
DETERMINATION OF RATE
At our discretion, we may change the interest rate on your account.
COMPOUNDING AND CREDITING FREQUENCY
Interest will be compounded every month. Interest will be credited to your account every month.
MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $25.00 to open this account.
COMPOUNDED INTEREST
Interest will be compounded and credited monthly.
DAILY 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 OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Lifestyle Checking Disclosure
MINIMUM BALANCE TO OPEN THE ACCOUNT
You must have on deposit with River Valley Bank at least $5,000.00 in interest bearing accounts to open this account.
This account is for persons 50 years of age or older and a member of the Lifestyles Club.
Premium Money Market Checking Disclosure
RATE INFORMATION
Your interest rate and annual percentage yield may change.
FREQUENCY OF RATE CHANGES
We may change the interest rate on your account at any time.
DETERMINATION OF RATE
At our discretion, we may change the interest rate on your account.
COMPOUNDING AND CREDITING FREQUENCY
Interest will be compounded every month. Interest will be credited to your account every month.
MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $2,500.00 to open this account.
MINIMUM BALANCE TO AVOID IMPOSITION OF FEES
A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
DAILY 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 OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
TRANSACTION LIMITATIONS
Transfers from a Premium Money Market Checking account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check or similar order to third parties.
FEES
A check/withdrawal fee of $10.00 will be charged for each check, preauthorized, automatic, or telephone transfer in excess of the six during a statement cycle.
Statement Savings Disclosure
RATE INFORMATION
Your interest rate and annual percentage yield may change.
FREQUENCY OF RATE CHANGES
We may change the interest rate on your account at any time.
DETERMINATION OF RATE
At our discretion, we may change the interest rate on your account.
COMPOUNDING AND CREDITING FREQUENCY
Interest will be compounded every quarter. Interest will be credited to your account every quarter.
MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $25.00 to open this account.
MINIMUM BALANCE TO AVOID IMPOSITION OF FEES
A maintenance fee of $1.50 will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the cycle. This fee will not apply to minors and students.
DAILY 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 OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
TRANSACTION LIMITATIONS
Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no transfers by check, draft, or similar order to third parties.
Christmas Club Disclosure
RATE INFORMATION
Your interest rate and annual percentage yield may change.
FREQUENCY OF RATE CHANGES
We may change the interest rate on your account at any time.
DETERMINATION OF RATE
At our discretion, we may change the interest rate on your account.
COMPOUNDING AND CREDITING FREQUENCY
Interest will be compounded and credited to your account in October. In October a check for the principal and the interest will be mailed to you along with a statement of the account.
DAILY 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.
TRANSACTION LIMITATIONS
You may make unlimited deposits into your account.
If you make a withdrawal prior to October no interest is paid on the account.
Certificate of Deposit Disclosure
RATE INFORMATION
Please call any of our locations for the current CD rates.
COMPOUNDING FREQUENCY
Please call any of our locations for the compounding frequency on our CD’s.
CREDITING FREQUENCY
Please call any of our locations for the crediting frequency on our CD’s.
MINIMUM BALANCE TO OPEN THE ACCOUNT
Please call any of our locations for the minimum balance required to open a CD.
MINIMUM BALANCE TO OBTAIN THE ANNUAL PERCENTAGE YIELD
You must maintain a minimum balance in the account each day to obtain the disclosed annual percentage yield. Please call any of our locations for the minimum balance requirements.
DAILY 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 OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
TRANSACTION LIMITATIONS
You may not make any deposits into your account before maturity.
You may make withdrawals of principal from you account before maturity.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of the crediting after it is credited to your account.
TIME REQUIREMENTS
Your account will mature on the date shown on the certificate of deposit form.
EARLY WITHDRAWAL PENALTIES
A penalty may be imposed for withdrawals before maturity.
If the CD term is less than one year the penalty is equal to three month’s of interest.
If the CD term is one year to less than 36 months the interest penalty is equal to six month’s of interest.
If the CD term is 36 months or greater the interest penalty is equal to nine months of interest.
In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.
WITHDRAWAL OF INTEREST PRIOR TO MATURITY
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
AUTOMATICALLY RENEWABLE TIME ACCOUNT
This account will automatically renew at maturity. You may prevent renewal if you withdraw the finds in the account at maturity (or within any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.
Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.
You will have 10 calendar days after maturity to withdraw the funds without a penalty.
IRA Variable Passbook Disclosure
RATE INFORMATION
Please call any of our locations for the current IRA passbook rates. Your interest rate and annual percentage yield may change.
FREQUENCY OF RATE CHANGES
We may change the interest rate on your account at any time.
DETERMINATION OF RATE
At our discretion, we may change the interest rate on your account at any time.
COMPOUNDING FREQUENCY
Interest will be compounded every month.
CREDITING FREQUENCY
Interest will be credited to your account every month.
MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $10.00 to open this account.
DAILY 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 OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
TRANSACTION LIMITATIONS
You may make unlimited deposits into your account.
You may make withdrawals of principal from your account before maturity.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.
TIME REQUIREMENTS
Your account will mature 18 months from date of first deposit and every 18 months thereafter.
EARLY WITHDRAWAL PENALTIES
A penalty may be imposed for withdrawals before maturity. The fee we may impose will equal three months interest on the amount withdrawn subject to penalty.
In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA or other tax qualified plan.
For any time deposit, which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.
WITHDRAWAL OF INTEREST PRIOR TO MATURITY
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
AUTOMATICALLY RENEWABLE TIME ACCOUNT
This account will automatically renew at maturity. You may prevent renewal if you withdraw the finds in the account at maturity (or within any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.
Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term.
You will have 10 calendar days after maturity to withdraw the funds without a penalty.
Other Fees
The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.
| Replace lost ATM card or Checkcard | $5.00 |
| Check Printing | Fee depends on style of check ordered |
| Deposited checks (and other items) returned unpaid |
$5.00 |
| NSF Returned Item(s) Charge | $29.00 per item, $232.00 maximum per day |
| NSF Paid Item(s) Charge | $29.00 per item, $232.00 maximum per day |
| Bounce Paid Item(s) Charge | $29.00 per item, $232.00 maximum per day |
| Long distance return item notification | $5.00 |
| Account balancing/research | $20.00 per hour |
| Telephone transfer from one account to another | $1.00 per transfer (in excess of 3 per month) |
| Stop payments (all items) | $29.00 |
| Customer printout | $1.00 |
| Copy of statement/Check | $3.00 |
| IRA transfer fee | $20.00 |
| Bond Coupons | $5.00/envelope |
| Collection Item In/Out | $10.00 |
| Account closing within 90 days | $10.00 |
| Transfer Fee | $5.00 |
| Redi-Credit | $1.00 advance fee / $15.00 annual fee |
| Cashiers Checks/Money Orders | $3.00 |
| Wires - outgoing domestic | $20.00 |
| Wires - outgoing foreign | $40.00 |
| Wires - incoming domestic or foreign | $5.00 |
| Telephone inquiries | $1.00 |
| Garnishment/Levy | $25.00 |
| Photocopies | $.10 per page |
| Faxes | $2.00 first page / $1.00 additional pages |
| ATM | $15.00 per year |
| Safe Deposit Boxes (where available) 3 x 5 x 21 3 x 10 x 21 5 x 10 x 21 10 x 10 x 21 Key Replacement Drilling Box |
$16.00 $24.00 $32.00 $60.00 $6.00 $90.00 |
We may require not less than seven 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). Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.
