Savings Accounts

OVERVIEW

When opening an account with Western Nebraska Bank, you need to deposit $100 for consumer checking or $25 for a savings account, unless you or your family already has an account relationship with us. A money market account will require a minimum $1,000 to open, and a NOW account $1,500.

Interest on checking accounts (if applicable) and money market accounts is compounded and credited to the account each month on the last business day of the statement cycle. Interest on savings accounts is compounded and credited to the account on the last day of each calendar quarter.

Interest is computed by applying a daily periodic rate to the available balance in the account on each calendar day. Interest begins to accrue on the business day that you make your deposit. Your interest rate and annual percentage yield (APY) may change. At the bank’s discretion we may change the interest rate at any time.

Tiers, current interest rate, and annual percentage yields are posted in the lobby of the Bank or are available on request. You must purchase your own printed checks unless it is otherwise stated in this fee schedule. Prices for printed checks will vary.

The automatic transfer of funds from your personal money reserve plan account to your checking account is available on request (with no transfer charges) to prevent overdrafts. To qualify for a personal money reserve plan account we must have a signed agreement with all parties authorized to sign on the account. You must be a legal contractual age or have a cosigner who is of legal age. Prior credit approval is required.

The account service charges (maintenance and activity fees) are outlined in each of the account descriptions that follow. Additional account related fees and other fees for banking services are also disclosed in this schedule. The fees on interest bearing accounts (if applicable) could reduce the earnings on your account.

Available Savings Accounts

Personal Savings Account

Your Personal Savings Account must maintain a minimum daily available balance of $25 during the statement cycle. If your balance falls below $25, a $1.50 service charge will be assessed monthly. There is an excess withdrawal fee of $2 per debit for more than 6 debits per month. The minimum balance to open is $25.

Transaction Limitations: Your account is limited to six pre-authorized debits during each monthly statement cycle. Preauthorized debits include transfers authorized by telephone, and transfers and payment authorized by agreement.

Money Market Account

This money market account is designed for those who want to earn a higher rate of return than the savings account but still want immediate access to their funds. A $10 monthly service charge will be charged if the minimum balance falls below $1,000. The minimum balance to open is $1000.

Transaction Limitations: Your account is limited to six pre-authorized debits during each monthly statement cycle. Preauthorized debits include transfers authorized by telephone, and transfers and payments authorized by agreement.

Debits must be in amounts no less than $500.

Health Savings Account

Your Health Savings Account must maintain a minimum daily available balance of $500 during the statement cycle. If your balance falls below $500, a $3.00 service charge will be assessed monthly. The minimum balance to open is $100.

*Account related fees apply to the account.

** A statement that provides an image of the front side of all paid checks and deposit tickets will be provided. If you need another copy of a paid check, you will be provided with a photocopy of the front and back of that check at no charge.