Ready Reserve A personal Credit Line for your Convenience ADVANTAGES: Short Term Cash Flow -- This is a more cost effective and convenient way of covering those cash flow shortages than taking out short term notes several times a year Overdraft Protection -- This will protect you from incurring an insufficient funds charge as money is transferred to your checking account automatically from your Ready Reserve Account when your account would have an overdraft. BORROWING CONVENIENCE: A one-time application is all you'll need to complete.  Once your credit line is established, the only person who needs to approve your loan is you!  With this on-going line of credit, borrowing becomes as easy as writing a check. MONTHLY PAYMENTS: Your monthly payment is automatically taken out of your checking account each month and is based on the balance in your loan account on the day your statement is cycled.  If your balance is less than $500.00 your payment will be $25.00. NO PAYMENT PENALTY: Pay any additional amounts you want, or pay it off.  As you pay the money back, it automatically becomes available to use again and again. HOW IT WORKS: Whenever you want funds in your account, you can stop in or give us a call to transfer the money into your account.  You can also just write a check and the funds will be transferred automatically into your account.  The minimum transfer is $50.00 and transfers will be made in increments of $50.00.  There are no transfer charges and you only pay interest on what you use. CREDIT LIFE INSURANCE: Credit life insurance is available to cover repayment of your debt, but is not required.  Ask a loan officer for details. MONTHLY STATEMENTS: You will receive a statement each month showing all activity on your Ready Reserve Account. ANY QUESTIONS? CALL ONE OF YOUR HELPFUL AND EXPERIENCED LOAN OFFICERS AT (218) 485-4441. We'd like to be of service to you! Back to Top

Funds Availability Policy Facts about Funds Availability, Deposits, Holds and Withdrawals YOUR ABILITY TO WITHDRAW FUNDS The policy of First National Bank of Moose Lake is to delay the availability of funds of some checks that you deposit.  During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written. DETERMINING THE AVAILABILITY OF A DEPOSIT The length of delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays and federal holidays. If you make a deposit before 3:00 p.m. at our branch office on a business day that we are open, we will consider that day to be the day of your deposit.  However, if you make a deposit after 2:00 p.m. at our main office, or on a day that we are not open, we will consider that deposit to be made on the next business day that we are open.  If you make a deposit by mail, we will consider the deposit made on the day we receive it. If you make a deposit by night depository, we will consider the deposit made on the day we remove it from the night depository. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit that are returned to us unpaid and for any other problems involving your deposit. The length of the delay varies depending on the type of deposit and is explained below. SAME DAY AVAILABILITY Funds from the following deposits are available on the same business day of your deposit: Cash Wire transfers, including electronic direct deposits, such as social security benefits and payroll payments Checks drawn on the First National Bank of Moose Lake Up to $3,000 of U.S. Treasury checks that are payable to you Up to $800 of cashiers checks or certified checks that are payable to you Up to $3,000 of Federal Reserve checks, Federal Home Loan Bank checks and postal money orders, if these items are payable to you Any amounts in excess of the above limitations will be available the next business day (first business day after the day of your deposit). OTHER CHECK DEPOSITS   The first $100 of funds from any other check deposited will be available on the first business day after the day of your deposit.  Remaining funds will be available on the second day after your deposit.  For example, if you make your deposit on Monday, $100 is available on Tuesday and the remaining funds available on Wednesday. If you have any questions, be sure to ask us. LONGER DELAYS MAY APPLY Funds you deposit by check may be delayed for a longer period under the following circumstances: We believe a check you deposited will not be paid You deposit checks totaling more than $5,000 on any one day You redeposit a check that has been returned unpaid You have overdrawn your account repeatedly in the last 6 months There is an emergency, such as failure of communications or computer equipment We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.  They will generally be available no later than the seventh business day after the day of your deposit. SPECIAL RULES FOR NEW ACCOUNTS If you are a new customer, the following special rules apply during the first 30 days your account is open.  Funds from electronic direct deposits to your account will be available on the day we receive the deposit.  Funds from deposits of cash, wire transfers, the first $5,000 of a day's total deposits of cashiers, certified, travelers, and federal state and local government checks will be available on the day of your deposit if the deposit meets certain conditions.  For example, the checks must be payable to you.  The excess over $5,000 will be available on the seventh business day after the day of your deposit. Funds from all other checks will be available on the seventh business day after the day of your deposit. HOLD ON OTHER FUNDS Check Cashing: If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account.  Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it. Other Account: If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us.  The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited. Back to Top