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FDIC Insurance Coverage Strasburg Savings Bank has chosen NOT to apply for additional insurance coverage, available for commercial checking accounts, through the Federal Deposit Insurance Corporation’s Temporary Liquidity Guarantee Program. Therefore, all deposit accounts with Strasburg Savings Bank will continue to be insured up to $250,000 under the FDIC’s general deposit insurance rules. Checking Our Basic Checking Account is an interest bearing account that offers you unlimited check writing privileges, no minimum monthly balance requirement, and a monthly statement with NO monthly service fee or per check charges. You will receive a monthly statement and images of your checks are available on-line. Interest is paid on balances of $2,000 and more. A $25 minimum deposit is required to open this account. Small Business Checking This account is designed for businesses with low to moderate account activity. There is also a low cost merchant service included at only $4.95 per month. There is no monthly service fee, no minimum balance requirement, or limits on the number of checks written. Activity fees may apply when depositing more than 50 items per day. A $25 minimum deposit is required to open this account. Christmas Club The Christmas Club account is designed for people who want to save for the holidays and other year-end expenses and would like a little help setting money aside regularly. You can make regular deposits throughout the year, or we can assist you in setting up automatic transfers from your Strasburg Savings Bank checking or savings account. In October, the balance of your account will be credited to your checking account, your savings account or paid to you by check. A $25 minimum deposit is required to open this account. Statement Savings This is an interest bearing account that allows unlimited deposits and withdrawals. Statements showing activity on your account will be sent monthly if your account has electronic funds activity. Otherwise, statements will be sent quarterly. A $25 minimum deposit is required to open this account. You may also access your statement savings account with your ATM card, if you desire. This is an interest bearing account that allows unlimited deposits and withdrawals. You will be issued a passbook that must be presented when making transactions on your account. A $25 minimum deposit is required to open this account. High-Yield Savings You can earn a fixed rate of interest on your investment for a fixed period of time with one of our Certificates of Deposit. A $1,000 minimum deposit is required to open this account. Interest can be credited to your certificate, credited to another account or paid to you by check. A penalty may be assessed if any of the principal is withdrawn prior to the maturity date. IRA Certificates and IRA Savings With your Traditional IRA you are able to choose from any of the rates and terms we offer on our Certificates of Deposit or you can choose an IRA Savings Account that can be added to at any time. Interest is tax-sheltered until withdrawn. (Consult your tax advisor for your individual tax implications and eligibility.) |
