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.