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Business Savings Plans
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Wilber Bank offers a variety of plans to enable you to achieve your savings goals. For complete details about the
options listed below and information on applicable interest, rates and fees call us at 607-432-1700 or 1-800-374-7980.
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Your Insured Deposits
The security of your deposits at Wilber National Bank is guaranteed by the Federal Deposit Insurance Corporation (FDIC). FDIC insurance covers all types of deposits, including deposits in checking, NOW and savings accounts, money market deposit accounts and time deposits such as certificates of deposit (CDs). The balance of each depositor’s account, dollar-for-dollar, are insured up to the insurance limit, including principal and any accrued interest through the date of the insured bank’s closing.
The basic insurance limit is $100,000 per depositor per insured bank. On October 3, 2008, FDIC deposit insurance temporarily increased
from $100,000 to $250,000 per depositor through December 31, 2009.
Deposits in separate branches of an insured bank are not separately insured. Deposits in one FDIC insured bank are insured separately from deposits in another insured bank.
The FDIC does not insure the money you invest in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if you bought these products from an insured bank. The FDIC does not insure U.S. Treasury bills, bonds, or notes. These are backed by the full faith and credit of the U.S. government. Read more about FDIC insurance online at www.fdic.gov/deposit or request a copy of the free FDIC brochure from any Wilber National Bank branch office.
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This easy-to-read passbook provides you with a competitive savings rate and a complete record of your transactions.
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Receive a higher interest rate for higher account balances with this "tiered" savings account. Register format. Your account may be accessed using a Wilber ATM/Debit card. Transaction limitations exist.
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| ADD/Vantage CDs (Certificates of Deposit) |
Take advantage of competitive interest rates and the option to add to your investment. With an ADD/Vantage CD from Wilber, you can add to your original deposit without extending the maturity and without opening a new certificate.
Additional deposits of $500 or more may be added to your CD up to 30 days before your certificate matures. Monthly interest can be added back to your CD or deposited to a Wilber checking or savings account. Monthly interest checks can be mailed to you for CDs of $10,000 or more. Opening deposit, additional deposits and accumulated interest may not exceed $100,000.
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| Fixed Rate ADD/Vantage CDs |
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Get guaranteed returns on minimum initial deposits of $2,500 with maturities of three months or longer. The interest rate depends on the amount of your initial deposit and maturity of your CD. Automatic renewal is available. Interest is compounded monthly. Early withdrawal penalty applies.
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| Variable Rate ADD/Vantage CDs |
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Receive interest rates that keep pace with current market conditions. The variable interest rate adjusts monthly. Maturities of two years are available with minimum deposits of $2,500. Interest is compounded monthly. Early withdrawal penalty applies.
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Simplified Employee Pension Plans (SEPs) are available to sole proprietorships, partnerships and corporations. Early withdrawal penalty applies.
Read about more ways to build your retirement savings in Trusts & Investments.
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It’s easy to get ready for holiday shopping with our personal Automatic Savings Club. Payments to your Club are automatically transferred from your Wilber checking or savings account on a weekly, bi-weekly, or monthly basis. Early withdrawal penalty applies.
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| This page and all contents are Copyright ® 2009 by Wilber National Bank |
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