About Our Holiday Club Account

Dividend Compounding and Crediting

Dividends will be compounded quarterly and will be credited quarterly. For the Holiday Club Account, the dividend period is quarterly. For example, the beginning date of the first dividend period of the calendar year is January 1 and the ending date is March 21. All other dividend periods follow this same pattern of dates.

Balance Information

We compute the balance in our Holiday Club Account to determine the dividends you will be paid by using the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. We calculate the average daily balance by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum Balance and Deposit Requirements

The minimum deposit required for you to open a Holiday Club Account is $5. You must maintain a minimum balance of $5 in your Holiday Club Account to obtain the Annual Percentage Yield stated on the Rate Schedule and to avoid closure.

Transactions Limitations

Our Holiday Club Account may be opened at any time. Funds will be disbursed to you on or about November 1. No withdrawals may be made prior to November 1. If a withdrawal is necessary, you will incur the early withdrawal fee stated on the Rate Schedule. If the deposits are by Payroll Deduction, the account will be automatically renewed unless you terminate the payroll Deduction authorization.