SAVINGS ACCOUNT

Rate Information: This account is an interest bearing account.  The interest rate and annual percentage yield are included in the Rate Chart.  The interest rate and annual percentage yield may change daily, at our discretion.  Interest begins to accrue on the business day you deposit noncash items (for example, checks).  Interest will be compounded daily on the account.  Interest will be credited to the account quarterly.  If the account is closed before interest is credited you will not receive the accrued interest.

Balance Information: We use the daily balance method to calculate the interest on the account.  This method applies a daily periodic rate to the principal in the account each day.

Limitations: You must deposit at least $100.00 to open this account.  You may make no more than six (6) transfers and/or withdrawals from your account each four (4) week or similar period, to another of your accounts with us or to a third party by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.

Account Fees: Your account will be assessed a $3.00 minimum balance fee during the statement cycle if your daily balance falls below $100.00.  Students under age 23 can be exempted from this charge.  Please notify bank personnel if you qualify for this exemption.

For rate information please see the rates chart or please call the Bank of Laverne for rate information.