Resource Savings Resource Savings

Description:

An interest bearing deposit account used as a liquid source of funds for household spending needs, investment opportunities, and emergencies. The account allows deposits, withdrawals, and transfers.

Best For:

People or entities who wish to keep readily available funds separate from checking accounts for ease of budgeting and to meet future needs. Likely clients include singles, newly married couples, parents, and grandparents. This account is often used as a child's savings account. Free to minors (17 or under), or if tied to a checking account. These groups are not required to maintain a minimum balance and can have a savings account with no monthly service charge.

Features:

  • Balance: An opening of $50 is required, with the exception of minors. If the account is tied to a checking account or is held by a minor, there are no balance requirements. If not tied to a checking account, a daily minimum balance of $250 or an average cycle balance of $1,000 is required to avoid a service charge of $4.75 per quarter.
  • Interest: Interest is compounded quarterly using a 365-day base. Interest is paid at the end of each quarter on all accounts with a positive balance.
  • Statements: Statements are generated at the end of each quarter. However, if the account is tied to a checking account, a combined statement showing activity in both accounts will be generated monthly.
  • Deposits: Deposits may be made in any amount at any time, in the lobby, drive-up, night deposit, bank by mail, or at ATM locations which accept deposits.
  • Withdrawals: Six withdrawals per statement cycle are allowed at no charge. Each withdrawal over six will result in a $1.00 service charge per transaction. This fee is posted on the client's statement quarterly.

Benefits:

  • Affordable: There are very low opening and minimum balances.
  • Relationship: A savings account is important in obtaining credit and other financial services.
  • Flexible & Secure: The account earns interest, while still allowing deposits and withdrawals at any time.
  • FDIC Insurance: The basic insured amount for a depositor is $250,000.

Contact:

For additional information or to begin setting up a new personal account, please see the list of account advisors per specific location:

DeKalb - (Annie Glidden Road) Location
Brian Wiskari (815) 748-1498
Shirley West (815) 748-1499

DeKalb - (Bethany Road) Location
Nancy Burmeister (815) 748-1619
John Peterson (815) 748-1462
Rhonda Solorzano (815) 748-1605
Katrina Taylor (815) 748-1610

Cortland - Location
Jean Fabrizius (815) 748-1645

Genoa - Location
Laura Hurst (815) 784-8304
Jerry Redden (815) 784-8322

Hinckley - Location
Darci Friedlund (815) 286-3774

Malta - Location
Brian Heal (815) 825-1630
Danette Hayes (815) 825-1632

Shabbona - Location
Michelle Janco (815) 824-1211

Somonauk - Location
Kathy Weeks (815) 498-1253
Susan Wiley (815) 498-1255

Sycamore - Location
  (815) 895-1711



Resource Bank - A National Bank

Resource Bank, A National Bank | Copyright © 2014 All Rights Reserved
555 Bethany Road | DeKalb, Illinois 60115 | (800) 845-4122 or (815) 756-6321


Member FDIC
Equal Housing Lender