STATEMENT SAVINGS ACCOUNT
A Traditional Statement Savings Account is still a great way to meet your financial goals. The convenience, flexibility, and liquidity of our savings accounts attract a diverse population of customers. From children to great-grandparents; farmers to lawyers; the Pilot Grove Savings Bank Statement Savings Account offers security for life-long saving, regardless of the goal.
Our Statement Savings Accounts feature:
- No minimum balance requirements
- No limit on number of deposits
- No service charge
- Maximum of six withdrawals per statement cycle
- Interest rate and annual percentage yield may change at any time
- Interest calculated using daily balance method
- Interest compounded and credited quarterly
Transaction limitations apply. During any statement cycle, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft or similar order.
While there are no recurring fees associated with the Statement Savings Account; they are, however, subject to fees listed in the Common Features Disclosure (PDF). Please refer to the Truth-in-Savings Disclosure and/or Common Features Disclosure available at all Pilot Grove Savings Bank locations for more information.
CHRISTMAS CLUB ACCOUNT
The holiday season can be an expensive time of year. With that in mind, Pilot Grove Savings Bank offers a special Christmas Club Savings Account. This account is designed for customers to make minimal deposits each week throughout the year to save for holiday expenses.
Features of the Christmas Club Account include:
- New accounts opened annually beginning the second week in November
- Amounts from $1.00 to $40.00 per week may be deposited
- Maximum deposit is $2,000/person or $6,000/family or household per year
- Interest rate subject to change
- Interest not compounded
- Interest credited to account at maturity
- These accounts are closed and checks mailed by the 2nd week of November
- No service charges
Visit any Pilot Grove Savings Bank location to begin your Christmas Club Account.
ELEMENTARY SCHOOL SAVINGS PROGRAM
In 2004, Pilot Grove Savings Bank created an elementary school bank savings program as a community service project for Salem Elementary School in the Mount Pleasant Community School District. The project was a success. Since then, the Pilot Grove Savings Bank Elementary School Bank program has grown to include seven area elementary schools with over 350 student account holders.
The goal of the Pilot Grove Savings Bank Elementary School Bank Program is to provide students the opportunity to learn how a financial institution works through hands-on participation. The in-school savings program supports the educational curriculum of the school, by providing an environment where students can put to use their math and social skills and learn the importance of establishing a savings plan.
We are proud of our elementary school bank program and honored to offer young students a valuable learning experience, in addition to bringing the convenience of a real bank to school.
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