Get financially fit with our new
Christmas Club Account

Start saving now and you’ll be smiling later!
First State Bank’s new Christmas Club Account will help ease financial Christmas stress.

SAVE – Automatically deposit or make deposits on your own schedule
EARN – Earn 1.25% Annual Percentage Yield (APY) on your money!
SHOP – Saved funds will be automatically distributed to you in time to kick-off the shopping season.

Christmas Club Account Terms:

  • The interest rate and annual percentage yield for your account depend on the applicable rate tier. The interest rate and annual percentage yield for these tiers may change.
  • At our discretion, we may change the interest rate on your account.
  • Minimum opening deposit of $2.00.
  • Interest will not be compounded.  Interest will be credited to the account annually, one business day before the Distribution Date.
  • 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.
  • Limitation on Number of Accounts: Christmas Club Accounts limited to two (2) per customer and two (2) per household.
  • Account cannot be linked to a debit card.
  • Account cannot be used as collateral or pledged as security.
  • Transaction Limitations: Once funds are deposited to the Christmas Club account, you will not be allowed to make withdrawals. See Distribution info below.
  • No checks, bill pay transactions, transfer debits, ACH debits or withdrawals/debit of any kind may post to the account.
  • Direct deposit distribution is required.
  • Distribution Date: The Distribution Date is the first business day of November each year. The balance in your account as of October 31 each year will be distributed via direct deposit to the account on file.
  • Deposit Posting Date:  Deposit of the funds distributed from your Christmas Club Account will post by the second business day of November each year.
  • Christmas Club account will not automatically close after distribution unless the account remains at a zero balance for 90 days.
  • Any recurring credits set up on the account will continue until canceled by the account holder or terminated by Bank per ACH/Transfer authorization terms.
  • Variable Rate: Interest will only be paid on balances up to $5,000.00 with an Interest Rate of 1.25% and Annual Percentage Yield (APY) of 1.25%. Your Interest Rate may change without notice. Balances over $5,000.00 will not earn interest.
Balance TierInterest Rate*Annual Percentage Yield (APY)*
$0 – $5,000.001.25%1.25%
$5,000.01 and above0.00%0.00%

* Rate and APY information accurate as of 11/1/2019.
Contact any branch for current Rate and APY information.