Statement Savings
This is a savings account for people who don’t like the necessity of carrying their passbook when making deposits or withdrawals. Instead, they prefer to keep track of their transactions in a register, and receive a monthly statement, similar to a checking account. Checks may not be written against this account, however a free STAR® ATM card is available which permits 24 hour banking convenience at ATMs everywhere.

Features:
This is an FDIC insured deposit. No passbook is required for transactions. The depositor receives a monthly statement of transactions similar to a checking account. Interest on this account is compounded daily and credited monthly. The depositor is eligible to receive a free STAR® ATM card. The interest rate paid on this account is found on the current rate sheet. The minimum balance required to open this account is $10. There is no minimum balance required on this account. All deposits are subject to collection before withdrawal. Direct deposits (such as payroll, pension checks or social security) can be made to this account. Free Telephone Banking is available for this account. Interest earned on this account is subject to income tax and the bank issues a yearly IRS form 1099. The depositor must supply the bank with a taxpayer identification number (social security number).

Rates:
The interest rate paid on this account can be found on the current rate sheet. Interest is compounded daily and credited monthly.