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Products and Services

Deposit Services

Checking

Regular Checking

Bank of Gibson City offers free checking accounts with no monthly service charge and no minimum balance required. The only cost incurred by the customer is for the purchase of personalized checks.

Now Accounts

By maintaining a $500.00 minimum daily balance, checking funds can earn interest with no monthly service charge. A daily balance below the minimum will still earn interest, but a $5.00 fee will be assessed per statement cycle. Simple interest is accrued on daily ending balances and paid monthly to the account. Unlimited check writing is permitted

Super Now Accounts

By maintaining a $2,500.00 minimum daily balance, checking funds can earn a higher rate of interest than a Now Account with no monthly service charge. A daily balance below the minimum will still earn interest, but a $10.00 fee will be assessed per statement cycle. Simple interest is accrued on daily ending balances and paid monthly to the account. Unlimited check writing is permitted

Money Market Accounts

By maintaining a $2,500.00 minimum daily balance, funds can earn a higher rate of interest than a Super Now Account with no monthly service charge. A daily balance below the minimum will still earn interest, but a $10.00 fee will be assessed per statement cycle. Simple interest is accrued on daily ending balances and paid monthly to the account. Check writing is limited.

Preferred Money Market Accounts

By maintaining a $5,000.00 minimum daily balance, funds can earn a higher rate of interest than a Money Market Account with no monthly service charge. A daily balance below the minimum will still earn interest, but a $10.00 fee will be assessed per statement cycle. Simple interest is accrued on daily ending balances and paid monthly to the account. Check writing is limited.

Savings

Regular Savings

By maintaining a $100.00 minimum daily balance, funds can earn interest with no monthly service charge. Minors (Up to age 18) are exempt from this requirement. A daily balance below the minimum will still earn interest, but a $5.00 fee will be assessed per quarterly statement cycle. Minors will not be assessed a fee if daily balance falls below the minimum. Regular saving account holders will receive a quarterly statement of transactions and a record book for convenience. Interest is compounded daily and paid quarterly to the account.

Christmas Club

Open a Christmas Club account of at least $5.00 and earn interest at a competitive rate. This fifty-week program allows deposits to be made by coupon payment book in an amount to fit the customer's budget. Interest is compounded daily and paid at the end of the fifty-week term.

Investments

Certificate of Deposits

We offer a variety of certificate of deposits with maximum earning power. Our most popular certificate of deposits are as follows:

91-Day Certificate

A short term investment requiring a $2,500.00 minimum investment.

182-Day Certificate

A short-term investment requiring a $2,500.00 minimum investment. Interest can be drawn monthly or at maturity.

365-Day Certificate

A short-term investment requiring a $2,500.00 minimum investment. Interest can be drawn monthly or at maturity.

18 Month

A longer-term investment requiring a $500 minimum investment. Interest is paid semi-annually.

24 Month

A longer-term investment requiring a $500 minimum investment. Interest is paid semi-annually.

30 Month

A longer-term investment requiring a $500 minimum investment. Interest is paid semi-annually.

36 Month

A longer-term investment requiring a $500 minimum investment. Interest is paid semi-annually.

Individual Retirement Accounts

I.R.A.'s are an excellent way of planning for the future. Traditional, Roth, and Education I.R.A.'s are available with four investment options to help your retirement funds grow and no administrative fees are assessed. I.R.A. investment options are as follows:

182-Day I.R.A. Certificate

A short-term I.R.A. investment requiring a $2,500.00 minimum investment. Excellent for rollovers and transfer or established accounts with larger balances.

18 Month Variable Rate Certificate

A longer-term I.R.A. investment requiring a $100 minimum investment and additions are permitted in any amount at any time. The rate changes quarterly allowing your investment to keep pace with market changes.

18 Month Fixed Rate Certificate

A longer-term I.R.A. investment requiring a $500 minimum investment with lump sum additions permitted. The fixed rate is for the entire term of the investment. Your earnings are compounded daily and capitalized quarterly.

30 Month Fixed Rate Certificate

A longer-term I.R.A. investment requiring a $500 minimum investment with lump sum additions permitted. The fixed rate is for the entire term of the investment. Your earnings are compounded daily and capitalized semi-annually.

Sweep Accounts

A fully collateralized deposit account to allow commercial customers a way to earn interest on their balances (exceeding $25,000.00) on an overnight basis. Interest is paid at a rate tied to the 91-day T-bill auction held each week.

Visit any one of our Customer Service Representatives for more details concerning Bank of Gibson City's Deposit Services.