Personal Savings

Savings Account

• $100 MINIMUM to open account
• $15.00 quarterly service charge if balance falls below
  $100 any day of the quarter
• Limit of six (6) withdrawals per quarter; $5.00 per
  withdrawal over six (6)
• Variable rate account
• Interest credited to account quarterly

Christmas Club Account

• No MINIMUM to open account
• Minimum weekly deposit of $5.00
• Deposits must be made by automatic transfer from a checking account at this institution
• A service charge fee of $10 will be charged for any withdrawal from this account
• Variable rate account
• Interest will be credited to the account every 12 months
• A check for the balance of the account will be issued to the account owner after the October 31 cut-off date each year

Certificates of Deposit

• $2,500 to open for maturities less than one (1) year
• $500 to open for maturities greater than one (1) year
• Interest paid at maturity on six (6) months or less and quarterly for terms of one (1) year or more
• Substantial penalty for early withdrawal
• Contact a bank representative for current rates.
• Ask about our Easy Riser Certificate

Individual Retirement Account

An IRA (Individual Retirement Account) is an account set up at a financial institution allowing an individual to save for retirement with tax-free growth or on a tax-deferred basis*. Bank of Forest allows you to invest funds using the same APR/APY as our Certificates of Deposit**.

We offer Traditional and Roth IRAs for your convenience.

* Always consult your accountant or financial advisor before opening, contributing to, or withdrawing from an IRA.

**Other rules and penalties may apply