Personal Deposit Accounts
Our Personal Deposit Account plans are designed to meet your daily and future needs. Whether you need a checking account to pay your monthly bills or you are saving for retirement, our plans can meet your needs. Click below to learn more about our accounts.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Checking Accounts
Checking Plans Without Interest
Checking Plans With Interest
Savings and Money Market Accounts
Investors Savings
Investors Choice Money Market
ATM & Check Cards
ATM Cards
Check Cards
Certificates of Deposit
Certificates of Deposit
Individual Retirement Accounts (IRA)
Investors IRA
IRA Certificates of Deposit
Checking Plans Without Interest
(DDA Accounts)
| Plan |
Safekeeping |
To avoid checking fees |
Checking Fees |
| DDA Plan 1 |
Yes
|
Maintain either a daily minimum balance of $500.00 or an average monthly balance of $1,500.00 in the checking account OR $3,000.00 in other savings and certificate products. |
$10.00 per month and $0.25 per check or withdrawal that statement period if balance requirements are not met |
DDA Plan 3
|
No
|
Maintain either a daily minimum balance of $750.00 or an average monthly balance of $3,000.00 in the checking account OR $6,000.00 in other savings or certificate products. |
$10.00 per month and $0.25 per check or withdrawal that statement period if balance requirements are not met. |
| Basic DDA |
Yes
|
No minimum balance is required with this account. |
You may write up to 10 checks per month and pay a flat $5.00 per month surcharge. Pay $0.50 for each check written over 10. |
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Checking Plans With Interest
(NOW Accounts)
| Plan |
Safekeeping |
To avoid checking fees |
Checking Fees |
| NOW Plan |
No
|
Maintain either a daily minimum balance of $1,500.00 or an average monthly balance of $5,500.00 in the checking account OR $7,500.00 in other savings or certificate products. |
$15.00 per month and $0.25 per check or withdrawal that statement period if balance requirements are not met.
|
|
Investors Choice NOW
($2,000.00 minimum to open)
|
Yes
|
Maintain either a daily minimum balance of $2,000.00 or an average monthly balance of $8,000.00 in the checking account OR $25,000.00 in other savings or certificate products. |
$15.00 per month and $0.25 per check or withdrawal that statement period if balance requirements are not met.
|
Additional Information
Unless specified, minimum balance to open is $100.00
Overdraft protection services available with all accounts that offer check writing services.
Free check printing of first order of 150 (wallet style) "Greystone Checks" when there is $10,000.00 in other deposit accounts. Subsequent orders of "Greystone Checks" free when deposit balances total $20,000.00 or more.
Accounts with no safekeeping will receive check images with their monthly statements.
Interest rate information for Checking/Savings Accounts
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Investors Savings
|
Minimum Balance to open
|
Statements Received
(Items not returned with statement)
|
To avoid account fees
|
Account Fees
|
|
$250.00
(Balance requirements waived for minors)
|
Quarterly unless there is Electronic Funds Transactions (EFT) or part of a combined statement then statement is sent monthly.
|
Maintain either a daily minimum balance of $250.00 or a monthly average balance of $600.00 *(1)
|
Maintenance fee of $5.00 per month if balance requirements are not met.
|
Interest rate information for Checking/Savings Accounts
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Investors Choice Money Market
|
Minimum Balance to open
|
Statements Received
(Items not returned with statement)
|
To avoid account fees
|
Account Fees
|
|
$2,000.00
|
Monthly statements and Monthly Monitoring of 3rd Party Preauthorized Withdrawals. Limit is 6 per month of which only 3 can be made by check or debit card. Preauthorized withdrawals include: Telephone Transfers, Automatic Transfers to other deposit accounts and ACH Payments made to 3rd Parties
|
Maintain either a daily minimum balance of $2,000.00 or a monthly average balance of $8,000.00 *(2) OR $50,000.00 in certificate products.
|
Maintenance fee of $10.00 per month if required balances are not met.
|
Additional Information
*(1) Regardless of account balance, there will be an excess activity fee of $0.50 for each withdrawal in excess of 6 per month.
*(2) Regardless of account balance, there is a $1.00 processing fee for checks or withdrawals (non-ACH) made for less than $250.00.
Interest rate information for Checking/Savings Accounts
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Certificates of Deposit
Our certificate products pay competitive interest rates. For your convenience, this product is represented by a receipt which allows for renewals, reinvesting, and redemptions to be handled over the phone and through the mail.
- Minimum opening deposit - $10,000.00.
- Maturity terms range from 30 days to 5 Years.
- Additional deposits are not allowed until maturity.
- The fixed interest rate is determined by the term selected and is paid for the entire term of the investment.
- Interest begins to accrue on the business day you deposit non cash items (checks) and we use the daily balance method to calculate the interest, applying a periodic rate to the principal balance in the certificate account each day and using a 365 day basis.
- If interest compounding occurs during the term of the investment, the annual percentage yield disclosed assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
- For investments that WILL automatically renew at maturity, you will have 10 calendar days after the maturity date to withdraw funds without penalty.
- For investments that WILL NOT automatically renew at maturity, interest will not be paid after maturity.
The following penalty may be charged to your term investment if you withdraw any principal before the maturity date.
1) For investments with an original term of < 60 days the penalty will be the forfeiture of 30 days simple interest on the amount withdrawn.
2) For investments with an original term of 60 days to < 3 months, the penalty will be the forfeiture of 60 days simple interest on the amount withdrawn.
3) For investments with an original term of three months to < 1 year, the penalty will be the forfeiture of three months' simple interest on the amount withdrawn.
4) For investments with an original term of one year or more, the penalty will be the forfeiture of six months' simple interest on the amount withdrawn.
If sufficient interest has not accrued at the time of withdrawal, the principal will be reduced to the extent necessary to meet the required penalty.
The amount of the penalty will be calculated using the higher of either the effective interest rate or the current published interest rate.
Early withdrawals made because of the death or the judicially declared incompetence of the account owner will not be penalized.
Interest rate information for CD Products
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Individual Retirement Accounts (IRA)
Investors IRA
This IRA account is designed to help you save for Retirement. It is a variable rate product that you can make additional deposits to. It will pay competitive rates so you will only need one IRA, "Investors IRA."
- Minimum Opening Deposit - $100.00.
- Maturity term is for 2 years.
- Interest is paid and compounded annually.
- A variable interest rate that may change at bank discretion and at anytime.
- Additional Deposit Are Allowed. ($1,000.00 minimum unless ACH Credits then $25.00 minimum).
- Interest begins to accrue no later than the first business day after we receive credit for non cash items (checks) and we use the daily balance method to calculate the interest, applying a periodic rate to the collected balance in the account each day and using a 365 day basis.
- If interest compounding occurs during the term of the investment, the annual percentage yield disclosed assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
IRA Certificates of Deposit
This product is designed for rollover transfers from other larger IRA plans.
- Minimum opening deposit - $10,000.00.
- Maturity terms range from 6 months to 5 Years.
- Additional deposits are not allowed until maturity.
- The fixed interest rate is determined by the term selected and is paid for the entire term of the investment.
- Interest begins to accrue on the business day you deposit non cash items (checks) and we use the daily balance method to calculate the interest, applying a periodic rate to the principal balance in the certificate account each day and using a 365 day basis.
- If interest compounding occurs during the term of the investment, the annual percentage yield disclosed assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
- For investments that WILL automatically renew at maturity, you will have 10 calendar days after the maturity date to withdraw funds without penalty.
- For investments that WILL NOT automatically renew at maturity, interest will not be paid after maturity.
Other IRA fees
- Annual Fee of $10.00 if balance in total IRA Plan is less than $500.00.
- $50.00 Termination Fee may apply if IRA Plan is closed within five years.
Interest rate information for IRA Products
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Early Withdrawal Penalties for IRA Certificates of Deposit
The following penalty may be charged to your term investment if you withdraw any principal before the maturity date.
1) For investments with an original term of six months to < 1 year, the penalty will be the forfeiture of three months' simple interest on the amount withdrawn.
2) For investments with an original term of one year or more, the penalty will be the forfeiture of six months' simple interest on the amount withdrawn.
If sufficient interest has not accrued at the time of withdrawal, the principal will be reduced to the extent necessary to meet the required penalty.
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Contact Christine at (920) 686-5616, Jeanne at (920) 686-5601 or Linda at (920) 686-5654 for more information about our personal deposit accounts.
Copyright ©2000-2008
Investors Community Bank
The Entrepreneurs' Bank (TM)
Named 2007 Business of the Year by The Chamber of Manitowoc County
Member FDIC
Updated 02/15/2008
