First Bank of Baldwin - IRAs

Traditional IRA

Statement Savings - 18 Month Maturity

Rate Information

Minimum balance requirements
A deposit of at least $25.00 is required to open this account.

Balance computation method
We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Compounding and crediting
Interest for your account will be compounded quarterly and credited to your account on the last day of each quarter.

Accrual of interest on deposits other than cash
Interest begins to accrue on the business day you deposit non-cash items (e.g., checks).

Early withdrawal penalty
An early withdrawal penalty will be imposed to age 59½ if you withdraw any principal before the maturity date. A penalty equal to 182 days interest at the prevailing rate will be charged to your account. There are certain circumstances, such as death or incompetence of an owner, where we may waive or reduce this penalty.

Withdrawal of interest prior to maturity
The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.

Renewal policy
This account will be renewed automatically at maturity. You have a grace period of ten business days after the maturity date to withdraw the funds without being charged a penalty.

Account Fees

Fee to transfer money to another institution, or to terminate this account $25.00

*Annual Percentage Yield

Member FDIC
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990 Main Street - P.O. Box 2060 Baldwin, WI 54002
p:715.684.3366 - 800.499.4362 f:715.684.2624