SAVINGS ACCOUNTS

Regular Savings

Deposits and withdrawals may be made at any time on this account.

This account may be set up for a minor as primary owner with no service charge. A parent or guardian must be on the account until age 18.

This account generates an annual statement showing the interest earned at the current rate offered. A monthly statement is generated if there is electronic activity.

Requirements: Must have $50.00 to open the account. The account requires a $100.00 balance to avoid a monthly service charge of $2.00. When opening a new account, the customer will have 90 days to accumulate the required $100.00 balance to avoid a service charge.

Health Savings Account (HSA)

A tax-advantaged personal savings account that helps those with HSA-qualified health plans save money on many out-of-pocket medical expenses like doctor visits, vision and dental care, and prescriptions.

Money Market

Deposits and withdrawals may be made at any time on this account. Customers will be limited to 6 checks payable to a third party per month. This account compounds monthly and generates a monthly statement showing the interest earned at the current rate offered.

Requirements:

Must have $1000.00 to open the account.

If the balance falls below $500.00 there is an automatic $5.00 service charge for that month.

Christmas club

Customers may deposit any amount into this account. Deposits may be made by using deposit tickets, or they may be automatically deducted from an account. A check or direct deposit will be sent to the account holder in mid-October for the final balance of the account. Statements are generated semi-annually on this account. A monthly statement is generated if there is electronic activity.

Requirements:  Account may be opened with any amount over $1.00. Withdrawals are not permitted-the club must be closed out.

BV Kids Club

The BV Kids Club is a special savings account for children ages 0-12. Each new member receives a BV piggy bank. Members will be eligible throughout the year for contests, prizes, and special promotions.

Requirements: A $25.00 deposit is required for a new customer to become a member. A $10.00 deposit is required for an existing account holder to change an existing savings into a BV Kids Club account.