Savings & CDs
Passbook Savings
Regular "Passbook" Savings
- Minimum balance to open an account is $5
- No service charge if $200 minimum daily balance is maintained
- If balance falls below the minimum, the quarterly service charge is $2
- No monthly service charge or minimum balance requirements for customers under 18 years of age or customers 60 years of age or older
- Simple interest accrued daily using daily balance method
- Six maximum posted withdrawals and/or transfers per four week cycle* (please see Limit on Frequency of Transfers information below)
- Statements quarterly on March 31, June 30, September 30, and December 31
- Interest rates on interest bearing checking and savings accounts are subject to change without notice. Interest will be compounded quarterly. Interest will be credited to your account quarterly.
CDs & IRAs
Certificates of Deposit
- Terms vary between 30 days up to 3 years
- Minimum opening deposit varies depending on type and term of CD selected
- Interest paid at posted RVNB market rates
- Substantial penalty for early withdrawals
Individual Retirement Account
- $100 minimum opening balance
- $10 minimum deposit
- 18-month Certificate of Deposit
- Interest accrued daily and paid quarterly
- For 2018, the contribution limit is $5,500 and 50+ catch up of $1,000
- Click here to view our Current Rates
Money Market
- Earns tiered money market rates. Rates increase at each tier level with $1,000 minimum opening balance.
- $0.00 to $999.99
- $1,000.00 to $4,999.99
- $5,000.00 to $9.999.99
- $10,000.00 to $24,999.99
- $25,000.00 to $49,999.99
- $50,000.00 to $74,999.99
- $75,000 and greater
- If balance falls below $1,000 minimum, the monthly service charge is $8
- Statements on a monthly basis
- Six maximum posted withdrawals and/or transfers per statement cycle* (please see Limit on Frequency of Transfers information below)
- Simple interest accrued daily using daily balance method. Interest will be compounded every month. Interest will be credited to your account every month.
*Limit on Frequency of Transfers information - During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed these transfer limitations, your account will by subject to closure by the financial institution.
