Rates Current as of Thursday February 09, 2012

A general term encompassing savings banks, savings and loan associations, and credit unions.

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A depository institution organized and owned by other banks to do business with only banks. These banks do not accept deposits from consumers or make loans to the general public.

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Automatic Reinvestment

A fund service giving shareholders the option to purchase additional shares using dividends and capital gain distributions.

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Represent ownership in the same fund, but charge different fees. This can enable shareholders to choose the type of fee structure that best suits their particular needs.

If one of my twenty-dollar bills was partially destroyed in my washing machine will it still be any good?

If you have more than 50% of its total area, the bank will replace the bill with a new one. They do this to prevent someone from splitting the bill right in half and doubling their value. Only the portion with a higher than 50% of its total area will be replaceable.

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Jonah Bank of Wyoming

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Banking & CD FAQs

A deposit was credited to my account by mistake. Does the bank have to get my permission before removing the funds?

No. If the funds are credited to your account in error, the bank doesn’t need your permission to remove funds. The bank may correct the error by exercising its legal right of off-set. This right allows a national bank to charge your account for a debt owed to the bank. To

How does the time horizon of my savings affect the interest rate?

Inflation is a major factor determining the level of interest rates. The longer the duration of the loan, the greater the risk that inflation can accelerate, reducing the purchasing power of the loan repayment. So, rates generally are higher on long-term loans than on short-term loans, because people who lend for longer periods

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Taxable money market fund investments include U.S. Treasury securities, federal agency notes, certificates of deposit, and commercial paper. Typically, tax-exempt money market funds, which seek to pay dividends that are exempt from federal income tax and/or state income tax, invest in instruments issued by state and local governments or what are called municipal securities.

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