The Christmas Club Account is designed for depositors who wish to make regular deposits into an account and receive a payment in time for the holiday season. The account offers an initial premium upon opening and accrues interest based upon the balance in the account each day. Your payment upon maturity will be by check unless you request that the entire payment be deposited to another account at Spring Valley City Bank.

INTEREST RATE INFORMATION
The interest rate and annual percentage yield on this account may vary.

You will be paid the disclosed interest rate for at least thirty calendar days. We will never decrease this rate unless we first give you at least thirty days notice in writing.

Interest will be accrued daily on the principal balance of the account. A daily periodic rate shall be used to calculate the interest. Interest begins to accrue on cash items deposited (for example, checks) no later than the business day we receive credit for the deposit.

PAYMENT OF INTEREST AND COMPOUNDING
Interest will not be compounded. Interest will be credited to your account at maturity.

MINIMUM DEPOSIT TO OPEN THE ACCOUNT
You must deposit at least $5.00 to open an account.

TRANSACTION LIMITATIONS
The maximum weekly deposit we allow to this account is $100.00. The minimum weekly deposit we require to this account is $5.00. The account will be closed if any withdrawals are made prior to the maturity date.

EARLY WITHDRAWAL PENALTY
A penalty may be imposed for withdrawals before the maturity date. An early account closing fee of $5.00 will be charged if the account is closed prior to maturity. In addition, all interest accrued to the date of withdrawal will be forfeited.

There are certain circumstances, such as the death or incompetence of an owner, where we may waive or reduce this penalty.

MATURITY DATE
The maturity date of this account is _______________

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