Disclosures

ETASM Account

Arrowhead Bank will open an ETASM account for any Eligible Individual who requests an ETASM and who authorizes the deposit of Eligible Payments to the ETASM. "Eligible Individual" means any individual who receives a Federal benefit, wage, salary or retirement payment. "Eligible Payment" means any electronically transferred Federal benefit, wage, salary, or retirement payment. Joint accounts are acceptable, but the primary account holder must be the ETASM beneficiary. Additional deposits other than Federal benefits, wages, or salaries may be made including cash, checks, and other electronic deposits.

ETASM may switch at any time to a traditional checking or savings account and still receive their Federal payment by Direct deposit.

Arrowhead Bank is permitted to close an ETASM if there is cause to believe that fraud has occurred in connection with the account or that the account has been misused.

ACH debit capability is not offered, but those originated by the customer can be accepted. Acceptable forms of transactions are over-the-counter and ATM. ATM cards may be issued and used, with origination and replacement card fees being charged. Activity at foreign ATM’s may be charged a fee by the operator of the machine; however, Arrowhead Bank customers with the ETASM are allowed by the bank to have unlimited free ATM withdrawals and balance inquiries regardless of ATM location. Branch locations, hours of operation and telephone numbers are located in the account information brochure located at Arrowhead Bank offices. ATM machines are located at the branch offices in Fredericksburg, Horseshoe Bay, and San Saba, and at the drive thru location in Llano.

Attachment of an ETASM:

  • Many Federal benefit payments, including Social Security benefits, Supplemental Security Income benefits, Veteran’s benefits, and Railroad Retirement benefits, are protected from attachment under Federal law. This means that your creditors do not have the right to have these funds taken out of your ETASM. There are a few exceptions however. For example, funds in your ETASM can be taken to satisfy child support or alimony obligations you owe. If you deposit funds other than Federal benefit payments to your ETASM, your creditors may be able to have those funds taken out of your account, but your Federal benefits would still be protected.
  • If we/Arrowhead Ban receive an order of attachment, garnishment, or levy, we will immediately send you a copy of the order and the name of the creditor and contact person, if any.
  • If you have questions about a creditor’s right to remove funds from you ETASM, contact your benefit agency or your local legal service organization.

Arrowhead Bank is required by the Department of the Treasury to ensure that your ETASM meets certain criteria and to provide you with certain disclosures about your ETASM. These obligations are set forth in an ETASM Financial Agency Agreement between Arrowhead Bank and the Department of the Treasury. The text of the ETASM Financial Agency Agreement is publicly available and is published in the Federal Register at 64 FR 38510, dated July 16, 1999.

^ return to top

NOW Account

Rate Information
At our discretion, we may change the interest rate and annual percentage yield on your account at any time.

Minimum Balance to Obtain Annual Percentage Yields Disclosed
You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Compounding and Crediting Frequency
Interest for your account will be compounded monthly. Interest will be credited to your account monthly.

Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.

Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items, for example, checks.

^ return to top

Bluebonnet Club NOW Account

Rate Information
At our discretion, we may change the interest rate and annual percentage yield on your account at any time.

Compounding and Crediting
Interest will be compounded every month. Interest will be credited to your account every month.

Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.

Minimum Balance to Obtain Annual Percentage Yield Disclosed
You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

^ return to top

Super NOW Account

Rate Information
At our discretion, we may change the interest rate and annual percentage yield on your account at any time. This is a "tiered-rate account."

Minimum Balance to Obtain Annual Percentage Yield Disclosed
You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Compounding and Crediting Frequency
Interest for your account will be compounded monthly. Interest will be credited to your account monthly.

Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.

Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items, for example, checks.

^ return to top

Savings Account

Rate Information
At our discretion, we may change the interest rate and annual percentage yield on your account at any time.

Minimum Balance to Obtain Annual Percentage Yield Disclosed
You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principle in the
account each day.

Compounding and Crediting Frequency
Interest for your account will be compounded every quarter. Interest will be credited to your account every quarter.

Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.

Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items, for example, checks.

^ return to top

Hi Fi Account (Money Market Deposit Account)

Rate Information
At our discretion, we may change the interest rate and annual percentage yield on your account at any time. This is a "tiered-rate account."

Minimum Balance to Obtain Annual Percentage Yield Disclosed
You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principle in the
account each day.

Compounding and Crediting Frequency
Interest for your account will be compounded monthly. Interest will be credited to your account monthly.

Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.

Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items, for example, checks.

^ return to top

Certificate of Deposit

Rate Information
Call Arrowhead Bank for our most current rates (APY's) on regular and jumbo CD's.

Compounding and Crediting Frequency
Interest will not be compounded. Interest will be credited to your account every month.

Minimum Balance to Open the Account
You must maintain a minimum balance of $500.00 ($100,000.00 for Jumbo CD’s) in the account each day to open the account.

Minimum Balance to Obtain the Annual Percentage Yield Disclosed
You must maintain a minimum balance of $500.00 ($100,000.00 for Jumbo CD’s) in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of Interest on Noncash Deposits
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Required Interest Distribution
This account requires the distribution of interest and does not allow interest to remain in the account.

Early Withdrawal Penalties
(A penalty may be imposed for withdrawals before maturity)

  • If your account has an original maturity of one year or less:

The fee we may impose will equal one months interest on the amount withdrawn subject to penalty.

  • If your account has an original maturity of 18 months:

The fee we may impose will equal three months interest on the amount withdrawn subject to penalty.

  • If your account has an original maturity of two years or more:

The fee we may impose will equal six months interest on the amount withdrawn subject to penalty.

In certain circumstances such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See you plan disclosure if the account is part of an IRA or other tax qualified plan.

Non-Automatically Renewable Time Account
This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.

^ return to top

30-Month Fixed Rate IRA

Rate Information
Call Arrowhead Bank for our most current rates.

Minimum Balance to Open the Account
You must deposit $100.00 to open this account.

Compounding Frequency
Interest will be compounded every day.

Crediting Frequency
Interest will be credited to your account every quarter.

Minimum Balance to Obtain Annual Percentage Yield Disclosed
You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of Interest on Noncash Deposits
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction Limitations
You may not make any deposits into your account before maturity.

You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.

You cannot withdraw interest from your account before maturity unless you are age qualified.

Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity)

The fee we may impose will equal three months interest on the amount withdrawn subject to penalty.

In certain circumstances such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if the account is part of an IRA or other tax qualified plan.

Non-Automatically Renewable Time Account
This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.

Statement Period
Annually

^ return to top

18-Month Variable Rate IRA

Rate Information
Your interest rate and annual percentage yield may change.  We may change the interest rate on your account the second Tuesday of every month.  The interest rate on your account will be equal to the 13 week T-bill rate.  Call Arrowhead Bank for the most current rate.

Minimum Balance to Open the Account
You must deposit $100.00 to open this account.

Compounding Frequency
Interest will be compounded every day.

Crediting Frequency
Interest will be credited to your account every month.

Minimum Balance to Obtain Annual Percentage Yield Disclosed
You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.

Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of Interest on Noncash Deposits
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Transaction Limitations
The minimum amount you can deposit is $25.00.

There are no limitations on the frequency or timing of additional deposits, except that no additions can be made in the last seven days before maturity.

You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.

You cannot withdraw interest from your account before maturity unless you are age qualified.

Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity)
The fee we may impose will equal three months interest on the amount withdrawn subject to penalty.

In certain circumstances such as death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See you plan disclosure if the account is part of an IRA or other tax qualified plan.

Withdrawal of Interest Prior to Maturity
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Automatically Renewable Time Account
This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.

Each renewal term will be the same as the original term, beginning on the maturity date. Interest will be calculated on the same basis as during the original term.

You will have ten calendar days after maturity to withdraw the funds without a penalty.

Statement Period
Annually

*Call Arrowhead Bank for rates.

^ return to top

Have a complaint?  Click Here