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

Policy for Dormant Accounts

  The size and type of account is not relevant to whether or not is will be considered “dormant.” All accounts will be considered dormant after a 12-month period.
  Each “dormant” account, which has a transaction after it has been classified, must be processed by two or more authorized staff members.
  The bank will make a concerted effort to locate the owner of the account prior to regulatory reporting.
  All transactions on dormant accounts that are initiated within the bank must be approved by the appropriate officer before it can be processed.
  All dormant interest bearing accounts will be paid interest, if their balances are within the minimums required, until such time as the owner of the account cannot be located.
  All dormant checking accounts, regardless of whether they are regular checking or interest-bearing checking, will be charged the same monthly service charge which they would be charged if they were an active account. Statement Savings accounts, which have been classified as dormant and have balances of less than $100.00, will be charged a monthly service charge of $6.00, to be assessed on the last working day of each month.