Fees & Disclosures

Terms & Conditions

Read our Terms & Conditions

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 and credited every statement cycle on the daily collected balance.

MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $25.00 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 collected principal in the account each day.

ACCRUAL OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Premier 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 statement cycle. Interest will be credited to your account every statement cycle unless the average collected balance falls below $2,500 during the statement cycle.

MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $2,500.00 to open this account.

MINIMUM BALANCE TO RECEIVE INTEREST
You must maintain a minimum balance of $2,500 in the account each day to obtain the disclosed annual percentage yield.

MINIMUM BALANCE TO AVOID IMPOSITION OF FEES
A maintenance fee of $10.00 will be imposed every statement cycle if the average collected balance 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 collected principal balance in the account each day.

ACCRUAL OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

TRANSACTION LIMITATIONS
Transfers from a Premier Money Market Checking account to another account of third parties by preauthorized, automatic, computer or telephone transfer or by check or similar order to third parties are limited to six per statement cycle.

FEES
An excess item service charge 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 $5.00 will be imposed every month if the balance in the account falls below $200.00 any day of the month. 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 collected principal in the account each day.

ACCRUAL OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

TRANSACTION LIMITATIONS
Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, computer, or telephone transfer are limited to six per statement cycle with no transfers by check, draft, or similar order to third parties.  A quarterly statement will be issued on your statement savings account.  If any electronic activity occurs in any month, an activity printout will be created and sent to you for that month.

FEES
An excess item service charge will be charged for each preauthorized, automatic, or telephone transfer in excess of the six during a statement cycle.

Christmas Club Disclosure

RATE INFORMATION
You will be paid the rate at account opening until maturity.

MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $25.00 to open this 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 average daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the average daily balance in the account for the period.

ACCRUAL OF INTEREST ON NON-CASH DEPOSITS
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

MINIMUM BALANCE TO AVOID IMPOSITION OF FEES
A $5.00 fee will be imposed on accounts with a balance of $25.00 or less at maturity

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 can withdraw only interest credited in the term before maturity of that term without penalty.

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 60 months the interest penalty is equal to six month’s of interest.

If the CD term is 60 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. Early withdrawal is permitted without penalty for the following reasons: Death, Extraordinary Health Expenses, College Education or a home purchased through River Valley Bank. 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. If you close your account before interest is credited, you may not receive the accrued interest.

AUTOMATICALLY RENEWABLE TIME ACCOUNT
This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds 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 Statement Account Disclosure

IRS regulations apply to all retirement accounts.

RATE INFORMATION
Please call any of our locations for the current IRA statement savings account 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 AND CREDITING FREQUENCY
Interest will be compounded and credited every statement cycle.

MINIMUM BALANCE TO OPEN THE ACCOUNT
You must deposit $25.00 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 (early withdrawal penalties may apply)

You can withdraw only interest credited in the term before maturity of that term without penalty.

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 penalty we may impose will equal six months' interest on the amount withdrawn.

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 funds 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.

Schedule of Fees

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.