INTEREST RATES AND APY EFFECTIVE AND ACCURATE ON March 6, 2024: Interest rates updated on 03/06/2024 at 10:00 AM
CLUB ACCOUNTS
Preferred 55 Club
Minimum opening deposit – $100.00
Membership Requirement – Age 55 and over
AS A PREFERRED 55 CLUB MEMBER YOU WILL RECEIVE THE FOLLOWING BENEFITS:
- No Monthly Maintenance Service Charge
- Free Personalized Club Style Checks
- Fee Free Money Orders and Cashiers Checks (up to 4 per month)
- Free Photocopies (up to 10 copies per month)
- Free Notary Service
- Discounted Club Trips
- Free Fax Service (up to 10 pages per month)
CHECKING ACCOUNTS
Personal Checking
Minimum opening deposit – $50.00
| Average Ledger Balance | Monthly Maintenance Service Charge |
| $500.00 and over | $0.00 |
| $0.00- $499.99 | $6.00 |
No charge for 40 withdrawals per month, (including checks, ACH debits, telephone and online transfers). Each additional withdrawal .10
No Monthly Maintenance Service Charge if average collected balance is greater than or equal to $1,500.00 in a passbook savings account.
- Monthly maintenance service charge waived if receiving e-statement
Personal Checking
Minimum opening deposit – $50.00
| Average Ledger Balance | Monthly Maintenance Service Charge |
| $500.00 and over | $0.00 |
| $0.00- $499.99 | $6.00 |
No charge for 40 withdrawals per month, (including checks, ACH debits, telephone and online transfers). Each additional withdrawal .10
No Monthly Maintenance Service Charge if average collected balance is greater than or equal to $1,500.00 in a passbook savings account.
- Monthly maintenance service charge waived if receiving e-statement
Second Chance Checking
Minimum opening deposit – $25.00
Monthly maintenance service charge with direct deposit ……………..$8.00
Monthly maintenance service charge without direct deposit …………$10.00
INTEREST BEARING ACCOUNTS
All of Citizens Community Bank’s interest bearing accounts are variable as defined by the Truth-in-Savings Regulation which means: The interest rate and annual percentage yield may change. The interest rate is determined at our discretion. The interest rate is subject to change at any time. There is no limit on how much the interest rate will change. To obtain the interest rates currently available and an explanation of the balance computation method for calculation of annual percentage yields, contact any one of our locations.
METHOD OF CALCULATION: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will begin to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks) into your account.
EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited you will receive the accrued interest.
Now Account – Personal
Minimum opening deposit – $1,000.00
Unlimited number of checks can be written without an additional charge.
Monthly Maintenance Service Charge – $10.00
| Balance From | Interest Rates | APY |
|---|---|---|
| UP TO - $2,499.99 | 0.05% | 0.05% |
| $2,500.00 - $9,999.99 | 0.05% | 0.05% |
| $10,000.00 - AND OVER | 0.05% | 0.05% |
- Variable Rate: The interest rate and annual percentage yield for your account depends upon the applicable tier. The interest rate and annual percentage yield for these tiers may change after the account is opened.
- APY: The Annual Percentage Yield assumes interest will remain on deposit until maturity. Withdrawals and Fees will reduce earnings.
- METHOD OF CALCULATION: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
- EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited, you will receive the accrued interest.
To avoid a Monthly Maintenance Service Charge of $10.00, a minimum daily balance of $1,000.00 or an average collected balance of $2,000.00 must be maintained. Fees could reduce the earnings.
Compounding frequency – Interest will be compounded monthly.
Crediting frequency – Interest will be credited into the account monthly.
Citizens Preferred 55 Now Club
Minimum opening deposit – $1,000.00
Membership Requirement – Age 55 and over
Unlimited number of checks can be written
Monthly Maintenance Service Charge – $10.00
AS A PREFERRED 55 CLUB MEMBER YOU WILL RECEIVE THE FOLLOWING BENEFITS:
- Free Personalized Club Style Checks
- Fee Free Money Orders and Cashiers Checks (up to 4 per month)
- Free Photocopies (up to 10 copies per month)
- Free Notary Service
- Discounted Club Trips
- Free Fax Service (up to 10 pages per month)
| Balance From | Interest Rates | APY |
|---|---|---|
| UP TO - $2,499.99 | 0.05% | 0.05% |
| $2,500.00 - $9,999.99 | 0.05% | 0.05% |
| $10,000.00 - AND OVER | 0.05% | 0.05% |
- Variable Rate: The interest rate and annual percentage yield for your account depends upon the applicable tier. The interest rate and annual percentage yield for these tiers may change after the account is opened.
- APY: The Annual Percentage Yield assumes interest will remain on deposit until maturity. Withdrawals and Fees will reduce earnings.
- METHOD OF CALCULATION: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
- EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited, you will receive the accrued interest.
To avoid a Monthly Maintenance Service Charge of $10.00, a minimum daily balance of $1,000.00 or an average collected balance of $2,000.00 must be maintained. Fees could reduce the earnings.
Compounding frequency – Interest will be compounded monthly.
Crediting frequency – Interest will be credited into the account monthly.
Passbook Savings
Minimum opening deposit – $50.00
Interest will be compounded and credited through the end of the calendar quarter.
Quarterly Maintenance Service Charge – $5.00
| Balance From | Interest Rates | APY |
|---|---|---|
| UP TO - $9,999.99 | 0.15% | 0.15% |
| $10,000.00 to $24,999.99 | 0.15% | 0.15% |
| $25,000.00 to $49,999.99 | 0.15% | 0.15% |
| $50,000.00 - AND OVER | 0.15% | 0.15% |
- Variable Rate: The interest rate and annual percentage yield for your account depends upon the applicable tier. The interest rate and annual percentage yield for these tiers may change after the account is opened.
- APY: The Annual Percentage Yield assumes interest will remain on deposit until maturity. Withdrawals and Fees will reduce earnings.
- METHOD OF CALCULATION: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
- EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited, you will receive the accrued interest.
Additional charges are as follows:
$3.00 per withdrawal in excess of four per month (including ATM and pre-authorized transfers). To avoid a Quarterly Maintenance Service Charge of $5.00, a minimum daily balance of $50.00 must be maintained for the monthly statement cycle. Fees could reduce the earnings. The quarterly maintenance service charge is waived for Minors up to age 22.
Christmas Club
Minimum opening deposit – $5.00
Interest will be compounded and credited annually.
No partial withdrawals are allowed.
| Balance From | Interest Rates | APY |
|---|---|---|
| Any Balance | 0.15% | 0.15% |
- Variable Rate: The interest rate and annual percentage yield for your account depends upon the applicable tier. The interest rate and annual percentage yield for these tiers may change after the account is opened.
- APY: The Annual Percentage Yield assumes interest will remain on deposit until maturity. Withdrawals and Fees will reduce earnings.
- METHOD OF CALCULATION: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
- EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited, you will receive the accrued interest.
Additional charges are as follows:
Early termination fee $10.00 Fees could reduce the earnings.
The Club Year will begin October 20th and will end with the annual maturity distribution of checks no later than October 21st of each calendar year.
This account will not be automatically renewed at maturity. At the end of the Club Year, the account balance will be completely distributed. The account will remain open until the end of December each calendar year to allow the Club customer to use the same account the following year. Starting January 1st of each calendar year new accounts with new account numbers will be issued for all Christmas club accounts opened.
COMMON FEATURES
The following fees may be assessed against your account.
| Return Fee for Non-Sufficient Funds Return fees apply to overdrafts created by check, in person withdrawals, or other electronic means, as applicable. This fee will be assessed once per item. |
$30.00 |
| Overdraft Fee for Non-Sufficient Funds Overdraft fees apply to overdrafts created by check, in person withdrawals, or other electronic means, as applicable. |
$30.00 |
| Continuous Daily Overdraft Fee*** ***If an overdrawn account is not brought to a positive balance on the day the overdraft occurs, starting the next day a $5.00 per day fee will be assessed until enough funds are deposited to bring it back to a positive balance. |
$5.00 |
| Account activity printout | $3.00 |
| Account closed within 6 months of opening | $25.00 |
| Cashiers Checks | $6.00 |
| Check Cashing (Non-customer) | $10.00 |
| Check Printing Fee | (Fee depends on style of checks ordered) |
| Coin Counting (Non-customer) | $10.00 |
| Coin Disbursements (Non-customers) |
$5.00 |
| Collection Item – Incoming and Outgoing |
$20.00 |
| Debit Card Replacement Fee | $10.00 |
| Dormant Checking Account (Inactive one year) | $10.00 per month |
| Dormant Savings Account (Inactive two years) |
$10.00 per month |
| Garnishments and Levies | $120.00 |
| Hold Statements | $3.00 per month |
| Indemnity Bond | $10.00 |
| Notary Service | $1.00 |
| Personal Money Orders | $4.00 |
| Photocopies (per page) | $1.00 |
| Research Copies | $4.00 each |
| Research-Per Hour | $150.00 |
| Stop Payment Orders/Renewals | $30.00 |
| Telephone Transfers | $2.00 |
| Two Signatures Required | $10.00 per month |
| Wire Transfer – Incoming | $20.00 |
| Wire Transfer – Out of USA | $50.00 |
| Wire Transfer – Outgoing | $25.00 |
CONSUMER BANKING PRODUCTS AND SERVICES
| PERSONAL CHECKING |
SECOND CHANCE CHECKING |
NOW ACCOUNT PERSONAL |
PREFERRED 55 CLUB |
CITIZENS PREFERRED 55 NOW CLUB |
PREMIUM MONEY MARKET PERSONAL |
|
| SERVICES | ||||||
| MINIMUM OPENING DEPOSIT |
$50.00 | $25.00 | $1,000.00 | $100.00 | $1,000.00 | $2,500.00 |
| MONTHLY MAINTENANCE SERVICE CHARGE |
$6.00 | $10.00 OR $8.00 With Direct Deposit |
$10.00 | NA | $10.00 | $15.00 |
| ABILITY TO WAIVE MONTHLY MAINTENANCE SERVICE CHARGE |
YES | NO | YES | Must be age 55 or older |
Must be age 55 or older YES |
YES |
| MINIMUM BALANCE TO AVOID MONTHLY MAINTENANCE SERVICE CHARGE |
$500.00 Or collected balance of $1500 in Passbook Savings or receive e-statement |
NA | $1,000,00 or average collected balance of $2000.00 |
NA | $1,000,00 or average collected balance of $2000.00 |
$2,500.00 or average collected balance of $3000.00 |
| FREE MOBILE BANKING |
✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| FREE ONLINE BANKING |
✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| UNLIMITED BILL PAYMENTS | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| DEBIT CARD * | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| INTEREST ** | NA | NA | ✔ | NA | ✔ | ✔ |
| UNLIMITED # OF CHECKS & ELECTRONIC ITEMS |
FIRST 40 FREE PER MONTH |
✔ | ✔ | ✔ | ✔ | $10.00 per withdrawal in excess of 6 per statement cycle |
| FREE PERSONALIZED CLUB STYLE CHECKS |
NA | NA | NA | ✔ | ✔ | NA |
| DISCOUNTED CLUB TRIPS |
NA | NA | NA | ✔ | ✔ | NA |
| FEE FREE MONEY ORDERS AND CASHIERS CHECKS *** |
NA | NA | NA | ✔ | ✔ | NA |
| FREE PHOTO COPIES **** |
NA | NA | NA | ✔ | ✔ | NA |
| FREE FAX SERVICE***** | NA | NA | NA | ✔ | ✔ | NA |
| FREE NOTARY SERVICES |
NA | NA | NA | ✔ | ✔ | NA |
*SUBJECT TO APPROVAL
** TIERS ACCORDING TO BALANCE
*** UP TO 4 PER MONTH TOTAL
**** UP TO 10 COPIES PER MONTH
***** UP TO 10 PAGES PER MONTH
Citizens Community Bank believes in fairness in lending and will make credit available on a fair and consistent basis to all individuals and entities that meet our credit standards without regard to national origin, race or other discriminatory bias.
Equal Housing Lender | Member FDIC |