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CHECKING ACCOUNTS

All accounts require $100.00 to open unless otherwise stated
 

EXCHANGE ADVANTAGE CHECKING

This club checking account is designed for the consumer who has moderate to high activity, wants to earn interest on their account, and wants additional features and benefits on their checking account which includes ways to keep finances safer and smart discounts on financial services and everyday purchases.  Exchange Advantage members receive all the features and benefits for one low monthly maintenance fee of $7.00 each month.

  • Monthly maintenance fee of $7.00 will be charged each month.
  • No Minimum Balance Requirement
  • Unlimited Transactions
  • Interest Bearing - Minimum balance to obtain the annual percentage yield disclosed – there is no minimum balance required in the account each day to obtain the disclosed annual percentage yield.

Features and Benefits include:

  • Complimentary VISA Debit Card
  • 6 Months Complimentary BILL PAY service (When activated within 60 days of new account status-Limitations Apply)
  • $5.00 Discount per Box on checks ordered
  • 2 Complimentary Personal Money Orders or Cashier's Checks per month
  • ID Protect: Identity Theft monitoring and resolution services which include Credit File Monitoring and Identity Theft Expense Reimbursement and Resolution services.
  • Debit Advantage: Buyers Protection and Extended Warranty coverage (Limitations apply)
  • Accidental Death and Dismemberment Insurance: Up to $10,000 AD&D Coverage and $150,000 Common Carrier Insurance (Limitations Apply)
  • Cellular Telephone Protection: Covers up to four phones listed on the cellular phone bill (Limitations apply)
  • Travel and Leisure Discounts: Access discounts from your mobile phone device or redeem and print coupons online.
  • Shopping Rewards: Access to exclusive offers and discounts at thousands of online retailers, including cash back with Shopping Rewards.
  • Cash Back Member Rewards: Members can earn 10% cash back on everyday purchases (Limitations apply). Save your receipts and submit quarterly to earn cash back up to $10/quarter or up to $40/annually.
  • Roadside Assistance Service: 24-hour coverage for roadside assistance services (Limitations apply)
  • Health Discount Savings: Possible discount savings on Vision, Prescriptions and Dental (This is NOT insurance, Limitations apply)

THRIFTY CHECKING

This account is designed for the consumer who has limited transaction needs and does not want to maintain a minimum balance. The consumer controls the amount of service charge by limiting their activity.

  • No Minimum Balance required
  • 10 Transactions per month - no charge - A $.25 per debit fee for each debit transaction (withdrawal, check paid, automatic transfer or debit card payment out of this account) in excess of 10 transactions per month will be charged. (This fee will not apply if you are 22 years of age or younger.)
  • Non Imaged Statement

 

REGULAR CHECKING

This account is designed for the consumer who has moderate to high activity but may not be able to maintain a higher balance requirement. You can receive a one dollar per tier discount by opting for the non-imaged statement.

  • Minimum Balance to avoid monthly maintenance fee - If balance falls below level any day in the monthly statement cycle:

Minimum Balance:

  • $199.99 & below              $5.00 monthly maintenance fee ($4.00 if Non-Imaged Statement)
  • $200.00 - 299.99              $4.00 monthly maintenance fee ($3.00 Non-Imaged Statement)
  • $300.00 - 399.99              $3.00 monthly maintenance fee ($2.00 Non-Imaged Statement)
  • $400.00 & over                 $ no charge
  • 50 Transactions per month - no charge - A $.25 per debit fee for each debit transaction (withdrawal, check paid, automatic transfer or debit card payment out of this account) in excess of 50 transactions per month will be charged.

 

NOW CHECKING

This account is designed for the consumer who has moderate to high activity and can maintain a higher balance and wants to earn interest on their account.

  • Minimum Balance to avoid monthly maintenance fee - If balance falls below level any day in the monthly statement cycle:

Minimum Balance:

  • $499.99 & under              $5.00 monthly maintenance fee
  • $500.00 & over                $ no charge
  • Interest bearing - Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.
  • 50 Transactions per month - no charge - A $.25 per debit fee for each debit transaction (withdrawal, check paid, automatic transfer or debit card payment out of this account) in excess of 50 transactions per month will be charged.

                (Maintenance fee and per debit fee will not apply to those 62 years of age and over.)

 

BUSINESS CHECKING

This account is designed for all Business customers that need a checking account for their business.

  • An AVERAGE balance of $2,500.00 is required to avoid a $5.00 monthly maintenance fee & activity fee -

Otherwise –

  • An activity fee of $.25 per debit over 35 debit items per statement cycle will be charged.

                (A debit is defined as any debit to the account checks, ACH withdrawal, transfer or debit card    purchase)

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SAVINGS ACCOUNTS

Regular Savings Account  -  (Consumer or Business)

This account is designed for the account holder that would like to save for their future and draw interest on their funds without tying it to a maturity date.

  • You must deposit $50.00 to open this account.
  • Interest Bearing - Earn interest on the entire Balance
  • Minimum Balance required to avoid quarterly maintenance fee - If balance falls below required level any day in the quarterly statement cycle:
  • $49.99 & under              $5.00 quarterly maintenance fee
  • $50.00 & over                $ no charge
  • 6 Transactions per month (18 per calendar quarter) - no charge - A $2.00 per debit fee for each debit transaction (withdrawal, check paid, automatic transfer or debit card payment out of this account) in excess of 6 transactions per month or 18 per quarterly statement cycle will be charged.**

                (**Reg. D Transaction limitations apply)

                (Maintenance fee will not apply to consumers age 18 and under and 62 years of age and over.)

 

Health Savings Account

This account is designed for the consumer that has a high deductible health plan and has been told by their employer that they qualify.

  • You must deposit $25.00 to open this account.
  • A one-time Set up Fee of $25.00 will be charged.
  • A monthly maintenance fee of $3.00 will be.
  • No minimum balance required to avoid fees.
  • Interest Bearing - Earn interest on the entire balance.
  • There is no limit on the number debits you may have.

 

MONEY MARKET ACCOUNTS

Money Market Checking  -  (Consumer or Business)

This account is designed for the account holder that would like to draw interest on their excess funds without tying it to a maturity date.

  • You must deposit $1,000.00 to open this account.
  • Interest bearing - Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1000.00 or $5,000.00 in the account each day to obtain the disclosed annual percentage yields.
  • Minimum Balance to avoid monthly maintenance fee - If balance falls below level any day in the monthly statement cycle:

Minimum Balance:

  • $999.99 & under              $5.00 monthly maintenance fee
  • $1000.00 & over              $ no charge
  • 6 Transactions per month - no charge - A $1.00 per debit fee for each debit transaction (withdrawal, check paid, automatic transfer or debit card payment out of this account) in excess of 6 transactions per monthly cycle will be charged. **

                (**Reg. D Transaction limitations apply)

 

Premier Money Market Checking  -  (Consumer or Business)

This account is designed for the account holder that would like to draw a higher interest rate on their large excess funds without tying it to a maturity date.

  • You must deposit $20,000.00 to open this account.
  • Interest bearing - Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $20,000.00 or $50,000.00 in the account each day to obtain the disclosed annual percentage yields.
  • There is no minimum balance requirement to avoid fees
  • 6 Transactions per month - no charge - A $1.00 per debit fee for each debit transaction (withdrawal, check paid, automatic transfer or debit card payment out of this account) in excess of 6 transactions per monthly cycle will be charged. **

                (**Reg. D Transaction limitations apply)

 

The following information applies to our NOW Checking, Exchange Advantage Checking, Savings Account, Money Market Checking, Premier Money Market Checking, and Health Savings Accounts:

Rate Information - Your interest rate and annual percentage yield may change.

Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every month. (Regular Savings accounts will be compounded every quarter) Interest will be credited to your account every month. (Regular Savings accounts will be credited every quarter)

Daily balance computation method - We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account for each day.

Accrual of interest on non-cash deposits - Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

**Transaction Limitations - Transfers from a savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to 6 per monthly statement cycle with no transfers by check, draft, debit card, or similar order to third parties. Transfers from a money market account or premier money market account to another account or to third parties by preauthorized, automatic, or telephone transfer or by check, draft, debit card, or similar order to third parties are limited to 6 per monthly statement cycle.

See our current rate sheet for current interest rates and annual percentage yields on these interest bearing accounts.

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LOANS

Minden Exchange Bank offers a wide variety of loan products to meet your financial needs. Our friendly Loan Officers are available to discuss loan details and offer their lending expertise anytime. Our loan services include:

 

Personal Lending

Minden Exchange Bank offers a wide variety of personal lending products to meet your financial needs. Installment Loans are offered to purchase that new (or "slightly used") automobile, fix up around the house, or for any number of reasons. Minden Exchange Bank offers competitive rates and flexible plans to fit your needs!

 

Agricultural Lending & Real Estate Lending

Minden Exchange Bank offers financing for the purchase of real estate and farmland with a variety of terms and rates. We also offer:

  • Term loans for machinery and equipment
  • Breeding livestock, and other short-term financial needs
  • For your total operation needs, we offer Automatic Lines of Credit or Individual Notes
  • Fixed rate long-term farm real estate loans
  • Beginning young farmer Loans
  • FSA/USDA Guaranteed loans

 

Commercial Lending

Minden Exchange Bank offers competitive Financing packages for rental and commercial real estate: loans with long-term fixed rates available. We include financing and products for inventory, equipment, lines of credit, and letters of credit.

  • Long-term Fixed Rate Loans for Commercial and Rental Properties

 

 

INVESTMENT ACCOUNTS

Certificates of Deposit

Minden Exchange bank offers a wide variety of CD's. Interest rates vary with terms. Give us a call to inquire about terms, current rates and annual percentage yields. Federal Regulations require a substantial interest penalty for early withdrawals.

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IRA’S

Traditional IRA, and ROTH IRA Accounts

Ask our IRA Representatives for details regarding IRA accounts. We offer both, fixed rate IRA plans and variable rate IRA plans. Seek Professional tax advice for the type of IRA that best suits your needs

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(308) 832-1600

Member FDIC. Equal Housing Lender.

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