Halifax - Personal Banking

Checking Accounts

All Halifax National Bank accounts have the following benefits:

Overdraft protection available
Descriptive monthly statements
Internet Banking
Dial-A-Bank transfers available
Direct Deposit available
Permits a variety of deposits at any time, including Bank by Mail, STAR card, STAR/VISA check card, Direct Deposit and Night Deposit
Automatic transfers available between Savings, Checking, Loan Christmas and Vacation club
FDIC insured

Hometown Checking

This account is designed for our customers who prefer the benefits of regular checking while earning a competitive interest rate. The account may be accessed by check, STAR card or STAR/VISA check card.

Features

Unlimited check writing – no per check or per deposit fees
Interest is compounded daily and paid monthly at the end of each statement cycle
Bonus rates paid for specific additional products and services

Terms

Minimum deposit of $50.00 required to open this account
If daily balance falls below $750.00 the interest will be forfeited for the statement cycle

Free Checking

This is a Personal Checking account with no minimum balance requirements. This account may be accessed by check, STAR card or STAR/VISA check card.

FEATURES

No minimum balance is required
No monthly service charge
Unlimited free check writing
No per check or per deposit fee

TERMS

Requires direct deposit of payroll or retirement benefits

Free Checking

This is a Personal Checking account with no minimum balance requirements. This account may be accessed by check, STAR card or STAR/VISA check card.

FEATURES

$50.00 minimum deposit is required to open this account
No minimum balance is required
No monthly service charge
Unlimited fee check writing - no per check or per deposit fees

NOW Checking

This account is designed for our customers who prefer the benefits of regular checking while earning a competitive interest rate. The account may be accessed by check, STAR card or STAR/VISA check card.

FEATURES

Unlimited check writing - no per check or per deposit fees
Interest is compounded daily and paid monthly at the end of each statement cycle

TERMS

$500.00 minimum deposit is required to open this account
No interest will be paid and a $5.00 per statement cycle service charge on average daily balances below $500.00

SUPER NOW Checking

This account is designed for our customers who prefer the benefits of regular checking and earning a competitive interest rate. The account may be accessed by check, STAR card or STAR/VISA check card.

FEATURES

Unlimited check writing - no per check or per deposit fees
Interest is compounded daily and paid monthly at the end of each statement cycle

TERMS

A $2,500.00 minimum deposit is required to open this account
No interest will be paid and a $7.00 per statement cycle service charge on average daily balances below $2,500.00

Savings Accounts

All Halifax National Bank Savings accounts have the following benefits:

Internet Banking
Dial-A-Bank
FDIC Insured

Money Market

This is an interest bearing account. This account is designed for our customers who prefer the benefits of a savings account. This account may be accessed by check, STAR card or STAR/VISA check card.

FEATURES

Interest earned at competitive rates

Interest compounded daily and paid monthly at the end of each statement cycle

Unlimited transactions over-the-counter
Descriptive monthly statements with Images of your checks
Overdraft protection for your checking account is available

TERMS

$2,500.00 minimum deposit is required to open this account
Tiered Interest Rate
- $ 0.01 - $ 2,499.99 no interest earned
- $ 2,500.00 - $10,000.00
- $10,000.01 - $30,000.00
- $30,000.01 and up
A $2,500.00 average monthly balance is required to earn interest and avoid a $10.00 per statement cycle service charge
Government regulations state transactions are limited to a total of six (6) debits per statement cycle

Statement Savings

This is an interest bearing account. This account is designed for our customers who prefer the benefits of a savings account without a passbook. The account may be accessed by STAR card or STAR/VISA check card.

FEATURES

Interest earned at competitive rates
Interest compounded daily and paid monthly at the end of each statement cycle
Unlimited over-the-counter transactions
Descriptive monthly statements
Overdraft protection for your checking account is available
Automatic transfers available between Savings, Checking, Loans, Christmas and Vacation clubs

TERMS

$25.00 minimum deposit is required to open this account
$25.00 average balance to avoid service charge
$2.00 per statement cycle service charge if minimum balance is not maintained

Passbook Savings

This is an interest bearing account. This account is designed for our customers who prefer the benefits of a savings account with a passbook. This account may be accessed by stopping into any of our Offices.

FEATURES

Interest earned at competitive rate
Interest compounded daily and paid quarterly

Terms

$10.00 minimum deposit required to open
$10.00 minimum balance is required
If the balance falls below $10.00, the account must be closed
You must have the Passbook with you for all transactions
Direct Deposits are not allowed to this account

Christmas Club

This is an interest bearing account. This account is designed for our customers who prefer a structured savings approach that assures money is available for the holidays.

FEATURES

Interest compounded daily and paid on the maturity date by check (October)
Automatic transfers may be arranged for payments from your First National Bank of Marysville checking or savings account

TERMS

$5.00 minimum deposit is required to open this account

Vacation Club

This is an interest bearing account. The account is designed for our customers who prefer a structured savings approach that assures money is available for vacation or other personal goals.

FEATURES

Interest is compounded daily and credited to your account yearly on June 30^th and at closing
Automatic transfers may be arranged for payments from your First National Bank of Marysville checking or savings account

TERMS

$5.00 minimum deposit is required to open this account
No checks mailed, you must come into any of our Offices to close

Certificates Of Deposit (CD’s)

This is an interest bearing account. This account is designed for our customers who prefer the benefits of earning a higher rate of interest on their investments. Various terms are available.

All Halifax National Bank Certificates of Deposit have the following benefits:

Internet Banking
Dial-A-Bank
FDIC Insured

FEATURES

Rates vary according to maturity
Rate is fixed for term of deposit
Interest is compounded daily
Interest may be paid monthly, quarterly, semi-annually or annually based on certificate amount
Interest may be reinvested into the Certificate of Deposit or may be paid by check or deposited into a First National Bank of Marysville checking or savings account

TERMS

Minimum deposits are required to open these accounts
Subject to substantial penalty for early withdrawal

Individual Retirement Accounts (IRA’s)

Descriptive quarterly statements
Internet Banking
Dial-A-Bank
FDIC Insured

Traditional IRA

This is an interest bearing account. The Traditional IRA is an account which allows you to defer taxes on your earnings until they are withdrawn with certain contributions being tax deductible in the tax year for which the contributions were made. All earnings on deductible and/or non-deductible contributions remain tax deferred until you make withdrawals from the account. You must qualify in order to deduct your annual IRA contribution from your taxable income. (Consult your Tax Advisor for further information.)

FEATURES

Interest is earned at competitive rates
Interest is compounded daily and paid quarterly
IRA is established in one name only
Contributions for a previous tax year may be made to a new or existing plan up to April 15
Provides additional savings for retirement
Potential for income tax savings

TERMS

$100.00 minimum deposit is required to open this account
Individual must have earned income
Maximum annual contribution limits apply
Must be 18 years of age
Distribution begins at 70 ½ years of age
"Catch Up" contributions apply for IRA owners age 50 or older
Subject to substantial penalty for early withdrawal

Stop by your local Halifax National Bank Office for complete IRA detail

Roth IRA

This is an interest bearing account. This Roth IRA is a non-deductible account that features tax-free income from the federal income tax when withdrawn for certain distribution reasons after a five (5) year holding period. The Roth IRA contributions are not tax deductible but the earnings accumulate tax-free offering a different type of tax advantage. People who expect to be in a higher tax bracket when they retire may benefit more from these accounts than from a Traditional IRA. (Consult your tax advisor for further information)

FEATURES

Interest is earned at competitive rates
Interest is compounded daily and paid quarterly
IRA's are established in one name only
Contributions for a previous tax year may be made to a new or existing plan up to April 15
Provides additional savings for retirement
Potential for income tax savings

TERMS

$100.00 minimum deposit is required to open this account
Individual must have earned income
Maximum annual contribution limits apply
Must be 18 years of age
"Catch Up" contributions apply for IRA owner age 50 or older
Subject to substantial penalty for early withdrawal

Stop by your local Halifax National Bank Office for complete IRA details

Educational IRA (Coverdell Education Savings Accounts – CESA)

This is an interest bearing account. The Education IRA is to give people a tax advantage savings account for college expenses. This account allows distributions for a child's qualified higher education expenses to be tax free and penalty free.

FEATURES

Interest is earned at competitive rates
Interest is compounded daily and paid quarterly
The funds contributed are considered a gift to a designated beneficiary under the age of 18
There is no requirement that the contributor have earned income
If a child decides not to pursue his/her education, the account may be transferred to a new designated beneficiary who is a member of the same family
Contributions do not exclude a qualified individual from contributing to a separate IRA for retirement savings

Terms

$100.00 minimum deposit is required to open this account
Contributions may be made on behalf of a child until the day before their 18th birthday
Maximum amount of contributions for the year are $2,000
Subject to substantial penalty for early withdrawal

Stop by your local Halifax National Bank Office for complete IRA details

Please be aware current federal tax laws governing the IRA accounts may change. This is not intended to be your sole source of information on IRA's nor is it intended to provide professional, accounting or legal advice. Consult your tax advisor or attorney for further information.