For current rates on any of these savings
products, please visit the Rates
page of this website
Passbook Savings Account
Open a Passbook Savings account for as little as $25 and earn interest,
compounded daily and paid semi-annually. Savings statements are sent
on December 31.
This account is ideal for beginning savers or people who want the convenience
of making savings deposits of any amount at any time. Accounts for young
people (under 17) are exempt from the $25 minimum opening requirement
Certificates of Deposit
Earn higher rates of interest and enjoy an insured investment with Villa
Grove State Bank Certificates of Deposit. Certificates with maturities
from three to 60 months are available for a minimum deposit of $500.
Certificates for less than 31 days require a $2,500 opening deposit.
There is an interest penalty for early withdrawals from certificates
of deposit
Christmas Club Account
Earn interest on your holiday spending money with a Christmas Club Account.
Make deposits throughout the year, earn interest and then receive your
check in late October to make your holiday shopping easier.
Money Market Deposit Account
Enjoy money market rates of interest and FDIC insurance with only a
$1,000 deposit to a Money Market Deposit Account.
Deposits to and in-bank withdrawals from a Money Market Deposit Account
may be made at any time and in any amount. Up to six pre-authorized
withdrawals may be made each month, of which three may be by check.
There is a $1 charge for all withdrawals.
Statements reflecting all deposits, withdrawals, interest earned and
withdrawal charges (if any) are sent monthly. No interest is paid for
months when the average balance drops below $1,000.
IRAs and SEPs
Villa Grove State Bank offers a complete line of retirement savings
programs, including Traditional and Roth IRAs, and SEPs. You can save for
your retirement with safe and secure insured bank certificates of deposit.
Our IRAs carry no fees or account charges.
To help you save for educational expenses, we also offer Education IRAs.
EACH DEPOSITOR INSURED TO AT LEAST $250,000.00.