First State Bank vacation club

Your next big adventure awaits!  Save with a purpose while tucking away a little bit at a time and it will add up to something big.  You’ll be packing your bags before you know it!

Vacation 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:  Vacation Club Accounts are 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 Vacation Club account, you will not be allowed to make withdrawals.  There will be a $15.00 early withdrawal fee if closed before distribution date and no accrued interest will be paid.  See Distribution info below.
  • Vacation Club Account types can be changed one (1) time per year.  
  • No checks, bill pay transactions, transfer debits, ACH debits or withdrawals/debits of any kind may post to the account.
  • Direct deposit distribution is required.
  • Distribution and Deposit Posting Dates:  Choose the timing that best fits your vacation schedule!
    • January
      • The Distribution Date is the first business day of January each year.  The balance in your account as of December 31 each year will be distributed via direct deposit to the account on file.
      • Deposit Posting – Deposit of funds distributed from your Vacation Club account will post by the second business day of January each year.
    • April
      • The Distribution Date is the first business day of April each year.  The balance in your account as of March 31 each year will be distributed via direct deposit to the account on file.
      • Deposit Posting – Deposit of funds distributed from your Vacation Club account will post by the second business day of April each year.
    • July
      • The Distribution Date is the first business day of July each year.  The balance in your account as of June 30 each year will be distributed via direct deposit to the account on file.
      • Deposit Posting – Deposit of funds distributed from your Vacation Club account will post by the second business day of July each year.
    • October
      • The Distribution Date is the first business day of October each year.  The balance in your account as of September 30 each year will be distributed via direct deposit to the account on file.
      • Deposit Posting – Deposit of funds distributed from your Vacation Club account will post by the second business day of October each year.
    • Vacation Club Accounts will not close automatically 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 and APY 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.