DEPOSIT PRODUCTS

1st Bank Yuma is a full service bank offering a wide range of deposit products including checking accounts, money market accounts, savings accounts, certificates of deposit, IRA’s, safe deposit boxes, and ATM or Debit cards.

TRUTH-IN-SAVINGS DISCLOSURE

Personal Checking Account

Minimum amount to open the account – You must deposit $100.00 to open this account.

Senior Checking Account (Available to customers age 50+)

Minimum amount to open the account – You must deposit $100.00 to open this account.

Personal Interest Checking Account

Minimum amount to open the account – You must deposit $1,000.00 to open this account.

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Determination of rate – At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to avoid imposition of fees – A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on non-cash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

Money Market Account

Minimum amount to open the account – You must deposit $1,000.00 to open this account.

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to avoid imposition of fees – A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on non-cash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

Transaction limitations:
Transfers from a Money Market Account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check, draft, debit card, or similar order to third parties.

Fees:
An excessive transaction fee of $10.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of three during a monthly statement cycle.

Regular Savings Account

Minimum amount to open account – You must deposit $100.00 to open this account.

Rate Information – Your interest rate and annual percentage yield may change.

Frequency of rate changes – We may change the interest rate on your account at any time.

Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of closing the account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to avoid imposition of fees – A maintenance fee of $3.00 will be imposed every month if the balance in the account falls below $100.00 any day of the cycle.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on non-cash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

Transaction limitations – Transfers from a Regular Savings Account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.

Fees – An excessive withdrawal fee of $3.00 will be charged for each withdrawal in excess of three during a month.

Additional Savings Account Limitations

We may require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D.

Withdrawals from a time deposit account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.

Certificate of Deposit (Time Deposit Account)

Minimum amount to open the account – You must deposit $1,000.00 to open this account.

Rate Information – The interest rate on your account is a set rate with an annual percentage yield, set at the time of opening. You will be paid this rate until first maturity.

Interest Payment Methods – Interest can be paid by compounding, crediting your 1st Bank Yuma account, or by check mailed to you.

Compounding frequency – Interest will be compounded monthly, quarterly, semi- annually or annually, based upon your choice.

Crediting frequency – Interest will be credited to your 1st Bank Yuma account monthly, quarterly, semi- annually, or annually, based upon your choice.

Check Frequency – Interest will be mailed by check monthly, quarterly, semi-annually, or annually, based upon your choice.

Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.

Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on non-cash deposits – Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Transaction limitations – You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can withdraw interest accrued in the term before maturity of that term without penalty. You can withdraw interest at any time.

Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) –

• If your account has an original maturity of less than one year: The fee we may impose will equal one month’s interest on the amount withdrawn subject to penalty.
• If your account has an original maturity of one year or more: The fee we may impose will equal three month’s interest on the amount withdrawn subject to penalty.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, waivers of the early withdrawal penalty. See your plan disclosure if the account is part of an IRA or other tax qualified plan.

Withdrawal of interest prior to maturity – the annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically renewable time account – this account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.

You will have ten calendar days (for terms greater than 31 days) and one calendar day (for terms of 7 – 31 days) after maturity to withdraw the funds without a penalty.