NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS 

 

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. 

 

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts. 

 

For more information about temporary FDIC insurance coverage of transaction accounts, visit ww.fdic.gov 

 

 

BUSINESS CHECKING ACCOUNT 

 

Add E-Statement and Bill Pay to your checking account today.  

Call us for details 319-334-7035. 

 

Minimum Opening Deposit $300.00  

 

Monthly Maintenance Fee - $8.00                         

Per check/debit paid - $.17 

Per deposit item (not drawn on SSB) - $.07 

Earnings credit will be given on your collected average balance per $100.00, it is a variable rate of .25% over the Single System Savings account rate (adjustable monthly).  

 

• Free e-statements upon request (without check images), no paper statement is mailed 

• Online bill-pay service:  $.50 per bill payment 

 

Returned check/deposited item: $5.00 per check or item. 

 

Check images included in statement. 

 

SMALL BUSINESS CHECKING 

 

Minimum Opening Deposit $200.00 

 

      Minimum Monthly                     Monthly Minimum 

      Monthly Balance                      Balance Fee 

             0-399                                     $8.00 

         400-499                                     $7.00  

         500-599                                     $6.00 

         600-699                                     $5.00 

         700-799                                     $3.50 

            800+                                           0 

There is a chargeable debit of $.20 per item over 20 checks/debits paid per month. There is a chargeable debit of $.09 per item over 50 deposit items per month (not drawn on SSB).  

• Free e-statements upon request (without check images), no paper statement is mailed 

• Online bill-pay service:  $.50 per bill payment 

 

Returned check/deposited item $5.00 per check or item. 

 

Check images included in statement. 

 

BUSINESS INTEREST CHECKING 

 

Minimum Opening Deposit $300.00 

 

Monthly Maintenance Fee- $10.00 

Per check/debit paid- $.17 

Per deposit item (not drawn on SSB)- $.07 

 

Earn interest on this account. Interest will be compounded monthly and will be credited to the account monthly. The interest rate is variable and posted in the bank lobby. 

 

Return check/deposit item: $5.00 per check or item. 

 

Check images included in statement. 

 

SUPER N.O.W. ACCOUNTS 

(Sole proprietorships and not for profit entities) 

 

Minimum Opening Deposit $2000.00 

 

Earn interest on this account. Interest will be compounded monthly and will be credited to the account monthly. The interest rate is variable and posted in the bank lobby.  

 

No monthly minimum balance fee for entities who maintain a minimum daily balance of $2,000.00 and have less than 25 checks/debits posted to their monthly statement. When the above limits are exceeded, the chargeable debit for the excess items are $.25 per check/debit over 25. There is a chargeable debit of $.09 per item over 50 deposit items per month (not drawn on SSB). If the minimum balance of $2,000.00 is not maintained daily, a $10.00 monthly minimum balance fee will be assessed. 

 

• Free e-statements upon request (without check images), no paper statement is mailed 

• Online bill-pay service:  $.50 per bill payment 

 

Returned check/deposited item: $5.00 per check or item. 

 

Check images included in statement. 

 

SWEEP ACCOUNTS 

 

Please contact a bank officer for details on our SWEEP accounts. 

 

Please see full TIS Disclosure for all account details.