On October 26, 2001, the USA PATRIOT Act was signed into law. As an obligation of this law, financial institutions are required to obtain, verify and record information that identifies each person who opens an account. We proudly support all efforts to protect and maintain the security of our customers and our country.
Our Accounts at a Glance
| Account Type | Minimum Balance | Monthly Fee | Interest Earned | Other Benefits and Information |
|---|---|---|---|---|
| Savings Account | $100.00 to open | None with $300.00 minimum average daily balance. A minimum balance fee of $8.00 will be imposed quarterly if the average daily balance of $300.00 is not maintained. | Yes |
Nine (9) free withdrawals per quarter. A fee of $1.25 per item will be charged if there are more than 9 withdrawals during the quarter.
Minimum balance to earn an APY: $.01, Interest compounded daily and paid quarterly, Interest rate may change daily
Free quarterly paper or electronic statement with NO images, Free ATM card.
|
| Minor Savings Account (age 18 and under) |
$25.00 to open | None with $25.00 minimum average daily balance. A minimum balance fee of $5.00 will be imposed quarterly if the average daily balance of $300.00 is not maintained. | Yes |
Nine (9) free withdrawals per quarter. A fee of $1.25 per item will be charged if there are more than 9 withdrawals during the quarter.
Minimum balance to earn an APY: $.01, Interest compounded daily and paid quarterly, Interest rate may change daily
Free quarterly paper or electronic statement with NO images, Free ATM card.
|
| Christmas Club Savings | $10.00 to open | None | Yes |
Individuals and Sole Proprietors only, $2500.00 maximum balance per account, withdrawals not permitted unless account is closing. Interest compounded daily and paid annually the second week of November, Interest forfeited if account is closed before the second week of November, Interest rate may change daily. Free annual paper or electronic statement with NO images. |
| Health Savings Account | $100.00 to open | None | Yes |
A checking account for those who have a high deductible health plan and who want to save for future qualified expenses on a tax-free basis.
Minimum balance to earn interest: $.01, Unlimited check writing, Free ATM or VISA Debit card, Free monthly paper or electronic statement with images.
*You must be enrolled in a high deductible health plan to qualify.
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The Farmers State Bank requires you to be present at one of our locations to open a deposit account. The deposit account application is attached below for you to fill out and bring with you to the bank to open an account. Each person that is going to be on the deposit account needs to fill out the deposit account application. To open a new account 2 forms of identification are required. To find out what types of identification are acceptable at The Farmers State Bank please open this link or the one below labeled Acceptable Forms of ID.
The Farmers State Bank only opens accounts for depositors within its service area in northeastern Colorado.