Minimum Balance to open – The minimum balance required to open this account is $5.00.

Deposit limitations – You may make an unlimited number of deposits into your account. However, you are required to set a weekly deposit amount between $5.00 to $200.00 in $5.00 increments in order to open this type of account. Deposits can be made in person, by mail, through online banking, or through ACH origination.

Club Account withdrawal limitations- No withdraws can be made from this account until maturity. In the case of withdrawal because of account holder death, Farmers Bank will not make the final payment.

Disbursement of funds—Funds will be deposited into your Farmers Bank account or sent by check by the week after November 1st payable to all owners of the account or you may have your check direct deposited into your account at Farmers Bank of Northern Missouri.

Club Account Payment- In order for Farmers Bank to make the final payment of 1.5 times your weekly deposit amount, you must have successfully made your weekly deposit into your Christmas Club account for the prior 49 weeks. Failure to make all of your weekly deposits will disqualify you from the Farmers Bank payment. Once your weekly deposit amount has been established, missing more than 4 consecutive weekly deposits before catching up will also disqualify you from the Farmers Bank final payment. You will receive the money you have contributed to your account upon maturity after November 1st paid out to you. You may also make additional deposits outside of your weekly contribution, however, the Farmers Bank final payment will only apply to your set weekly deposit amount.

Statements- You will receive statements on this account, at least on a quarterly basis.

Additional Terms- The following additional terms apply to this account: Existing Christmas Club accounts must have a deposit between November 15th and January 31st in order to keep your account open. Failure to notify Farmers Bank of your weekly deposit by January 31st can result in your account being closed. If you open your account after the week of November 15th you will need to deposit a “catch-up” amount in order to keep your account open. For example, if you open your account on December 20th with a weekly deposit of $5.00 you will need to deposit $25.00 into your Christmas Club account at opening in order to be eligible for the Farmers Bank final payment to cover the 5 weekly payments missed since November 15th.