Savings

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Savings Chart of Accounts

Accounts Opening Balance Minimum Balance to
Avoid Fee
Monthly
Service Fee
Interest Bearing
Regular $ 100.00 $ 1,000.00 $ 0.50 per withdrawal in excess of 12/year /$10 per transaction over the 6 “limited” transactions allowed Yes
Minor $ 25.00 $ 1,000.00 $ 0.50 per withdrawal in excess of 12/year /$10 per transaction over the 6 “limited” transactions allowed Yes
First Premium $ 100.00 $ 1,500.00 $ 7.50 Yes
Christmas Club $ 5.00 $ - $ - Yes

Regular Savings

  • $100 minimum deposit to open account
  • Competitive variable rate of interest
  • Interest is paid semi-annually on June 30 and December 31
  • Statements are mailed at minimum quarterly

Minor Savings

  • $25 minimum deposit to open account
  • Minimum balance of $1,000 or a $0.50 per withdrawal in excess of 12/year will apply
  • Competitive variable rate of interest
  • Interest is paid semi-annually on June 30 and December 31
  • Statements are mailed at minimum quarterly
  • Minors ages 0-18. Interest paid semi-annually on June 30 and December 31

First Premium Savings

With a First Premium Savings Account you will enjoy CD rates with all the flexibility and benefits of a regular savings account. First Premium Savings Accounts are tiered so you earn interest according to your balance on deposit. Enjoy higher yields at higher balance levels!

  • $100 minimum deposit to open account
  • Minimum balance of $1,500 or a $7.50 service fee applies
  • Interest bearing according to balance on deposit
  • Under federal regulations, unlimited withdrawals if made in person, otherwise allowed up to 6 withdrawals per monthly statement cycle, including 3 by telephone or electronic transfer to third parties

Christmas Club Savings

  • $5 minimum deposit to open account
  • No minimum balance required
  • Christmas Club checks are mailed to you in early November

MMDA / Savings Account Transaction Limitations

The covered transaction restrictions of an MMDA and savings account require that transfers and withdrawals from either type of account be limited in number or performed in a non-covered fashion.

Unlimited transactions include in-person and ATM withdrawals, and any deposits. Covered transactions are limited to 6 per month or statement period. Transfers to directly cover an overdraft checking account are limited to the six per month.

Transaction Limited to 6 per month Unlimited
Transfer or withdrawal via preauthorized debit (ACH) X
Overdraft trasnfer from savings X
Transfer from savings to savings X
Transfer or withdrawal via telephonic program X
Transfer or withdrawal via fax X
Transfer or withdrawal via online banking X
Transfer via telephone X
Checks by consumer to third party via MMDA X
Debit card point-of-sale transaction (P.O.S) X
Automatic transfer to repay loan at same bank X
Transfer or withdrawal in person X
Transfer or withdrawal to consumer via mail request X
Transfer or withdrawal via ATM X
Withdrawal by consumer via telephone (non-audio response) X
Deposit funds to the account X

If the number of covered transfers or withdrawals from an MMDA or savings account exceeds six in a month or statement period, a depository must take action regarding the account.

First National Bank of Pana enforces a $10.00 fee per transaction in excess of the six allowed transactions. If you exceed the six allowed, you will receive a letter stating the number of transactions over the allowed and the amount billed. If you exceed the allowable number of transaction three times within a 12 month period, your account will be closed. We are not able to open another account of that type for a minimum of 6 months. Fees imposed are not refundable and account closures are not reversible, due to Federal Regulation.

Please contact a Customer Service Representative for more information on this regulation.

217-692-2157 or 217-562-3961