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Truth In Savings

Christmas Club with Automatic Payments Truth in Savings Disclosure

Interest Rate Information

  • The interest rate and annual percentage yield may change at the Bank's discretion any time without notice. The account will mature and automatically renew on October 14, 2014. Click here for the current interest rate and annual percentage yield.

Compounding and Crediting of Interest

  • Interest is not compounded on this account. Interest is credited to the account on the maturity date.
  • If you close the account before interest is credited, you will not receive the accrued interest.

Accrual of Interest on Noncash Deposits

  • Interest begins to accrue on the business day you deposit noncash items (for example, automatic deposits into the Christmas Club Account).

Minimum Balance Requirements

  • You must deposit $5.00 to open this account.
  • You must maintain a minimum balance of $5.00 in the account each day to obtain the disclosed annual percentage yield.

Balance Computation Method

  • We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Transaction Limitations

  • The minimum amount that may be deposited periodically is $5.00.
  • Up to fifty-two (52) automatic deposits may be made into the account until the maturity date.
  • Club payments are automatically deducted from an ACNB Bank checking or statement savings account.
  • You may not make withdrawals from the account until the maturity date.

Early Withdrawal Penalty

  • We will impose a penalty if you withdraw any of the deposited funds before the maturity date. The fee imposed will equal all accrued interest plus $30.00.

Renewal Policy

  • This account will renew automatically on the maturity date, however, you have 10 calendar days after the maturity date to withdraw funds without a penalty, change the deduction amount, and/or discontinue the automatic club deduction.
  • All account proceeds, including principal and interest, will be paid by check or directly deposited to an ACNB Bank checking or statement savings account.

Service Fees

The following fees may be assessed against the account:

Stop Payments (per item) $35.00
*Overdrafts (per item paid or returned) $40.00
Research (per hour/minimum $30) $30.00
Escheat Processing $100.00
Overdraft Protection Transfers (per occurrence) $10.00
Foreign ATM Cash Withdrawals $2.00
Dormant Account (per month after two years for balance less than $200.00) $5.00
Deposit Item Chargeback (per item) $15.00
Excessive Transaction (per item after the first notification of an excessive transaction occurrence) $15.00

* The overdraft fee applies to overdrafts created by in person withdrawal or electronic means as applicable. The fee is assessed on only the first six overdraft items per day.

Additional Account Information

  • Accounts at a zero balance for 45 days will be permanently closed.

Member FDIC