This savings account is designed for customers who desire a monthly statement of their account activity and for those who conduct electronic transfer transactions with the account. This account receives a monthly statement that itemizes all account activity since the last statement cycle date. You are responsible for entering all transactions into your blue account register including monthly interest and fees and reconciling it to your monthly statement. Electronic transfers include, but are not limited to, direct deposit of Social Security benefits or payroll, automatic funds withdrawals of insurance premiums, or any ATM activity. Our policy for accepting electronic funds transfers is shown in our Electronic Funds Transfer Disclosure Statement.

INTEREST RATE INFORMATION
The interest rate and annual percentage yield on this account may change. At our discretion Spring Valley City Bank may change the interest rate at any time to the interest rate we choose. There is no minimum or maximum interest rate or annual percentage yield. 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 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 be credited to your account on the last business day of every month. Interest will be compounded daily.

MINIMUM DEPOSIT TO OPEN THE ACCOUNT
You must deposit at least $50.00 to open this account. This minimum deposit is waived for depositors age 18 and under, upon disclosing sufficient birth date information.

AVERAGE BALANCE TO AVOID SERVICE CHARGE FEES
A maintenance fee of $1.00 is assessed on the statement cycle date if the average balance during that statement cycle is less than $100.00

The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

A maintenance fee of $1.00 will be assessed at account closing if the average daily balance during the portion of the statement cycle period in which the account is open is less than $100.00. This service charge is waived for depositors age 18 and under provided the depositor discloses sufficient birth date information.

TRANSACTION LIMITATIONS
Transfers from a Statement Savings Account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by draft, automatic debit, or similar order to third parties. You may make unlimited withdrawals in person, by mail, or with an ATM card.

AUTOMATED TELLER MACHINE INFORMATION
Customers may obtain an ATM card for access to their account. Customers wanting to establish an ATM card relationship must complete an ATM card application and agree to be bound by the terms and conditions found in the ATM Card Agreement.

>> Back