Active accounts are defined as checking or savings accounts having regular deposit activity within the last 30 days.  If the account is closed prior to the club payout, a fee of $25.00 will be imposed.  The interest rate for the Vacation Club Account is 1.00% with an annual percentage yield of 1.00% and the interest rate for the Christmas Club Account is 2.00% with and annual percentage yield of 2.00%. We will pay this rate from the day the account is open until the end of the club year or until the account is closed.  Interest will be compounded and paid at the end of the club year.  If you close your account before interest is credited, you will not receive the accrued interest.  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.  Interest begins to accrue the business day you deposit noncash items (for example, checks).  You may only make deposits into your account transferred from a checking or savings account at our bank.  If a withdrawal is made before the end of the club year, the account will be closed.  This transfer will automatically continue after each 50 week club year is complete until the owner contacts Farmers Bank and Trust Co. to close their Vacation or Christmas Club Accounts.  After the club year ends and the funds are transferred back to the account that was making the deposit, a period of two weeks will pass before the new club year will begin.  Multiple accounts may be opened with the total of all accounts not to exceed $5,000 per year and weekly deposits not to exceed $100 per week on all accounts.