Account Types:  IRA - Traditional

Variable rate Information

  • Call 979-732-2332 for current rates.

  • Your interest rate and annual percentage yield may change.

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

  • Frequency of Rate Change: We may change the interest rate on your account at any time.

  • Limitations on Rate Changes: The interest rate for your account will never be less than 0.001% or more than 99.999%.

  • Additional Rate Information: If you close your account before interest is credited, you will receive the accrued interest.

Compounding and Crediting

  • Interest will be compounded every three months and will be credited to your account every three months.

  • The annual percentage yield assumes interest will remain on deposit until maturity.

  • A withdrawal will reduce earnings.

  • If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

Minimum Balance Requirements

  • You must deposit $250.00 to open this account.

  • The minimum amount of subsequent deposits must be $500.00 or more.

  • You must maintain a minimum daily balance of $250.00 in the account each day to obtain the disclosed annual percentage yield.

  • You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.

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 each day.

Accrual on Noncash Deposits

  • Interest begins to accrue on the business day you receive credit for the deposit of noncash items (for example: checks).

Transaction Limitations

  • You may make withdrawals from your account until the maturity date.

Individual Retirement Account

  • Individual Retirement Accounts (IRAs) are subject to limitations and/or penalties imposed by the Internal Revenue Service.

  • Please see your IRA Agreement or your tax advisor for additional information.

Maturity Date

  • Your account will mature 1 year from the date opened.

Early Withdrawal Provision

  • We will impose a penalty if you withdraw any or all of the funds before the maturity date.

  • The penalty imposed will equal 30 days of interest on your account.

  • You must be 59 ½ years of age, or over, to avoid a penalty for withdrawal of the IRA.

Renewal Policies

  • Your account will automatically renew at maturity.

  • You will have a grace period of ten calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

Current Rate Information

  • The rate(s) and annual percentage yield(s) disclosed above were offered and accurate within the most recent seven calendar days.

  • To obtain current rate and percentage yield information, please call 979-732-2332.

Please click here for a New Accounts application, or contact our New Accounts Officer, John J. Polach, Jr. at 979-732-2332 or email us .


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420 Walnut - Post Office Box 9, Columbus, Texas 78934-0009
Phone: 979 732.2332 - Fax: 979 732.2016
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