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 in your account.  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. DETERMINE 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. 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 banks 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 To find out when funds from other check deposits will be available, look at the first four digits of the routing number on the check as shown below: Some checks are marked "payable through" and have a four or nine digit number nearby.  For these checks, use this four digit number (or the first digits of the nine-digits of the nine digit number), not the routing number on the bottom of the check, to determine if these checks are local or non-local. Once you have determined the first four digits of the routing number, (1234 in the previous examples), the chart below will show you when funds from the check will be available. First Four Digits From Routing Numbers When Funds Are Available When Funds Are Available if Deposit is made on a Monday 0910 0911 0912 0913 0914 0915 0918 0919 0960 2910 2911 2912 2913 2914 2915 2918 2919 2960  $100 on the first business day after the day of your deposit. Remaining funds on the second business day after the day of your deposit. $100 on Tuesday The remaining funds on Wednesday. All Other Routing Numbers $100 on the first business day after the day of your deposit. Remaining funds on the fourth business day after the day of your deposit. $100 on Tuesday The remaining funds on Friday.   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 days 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.  If your deposit of these checks (other than U.S. Treasury Check), is not made in person to one of our employees, the first $5,000 will not be available until the second 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. If you deposit both categories of checks, $100 from the checks will be available on the first business day after the day of your deposit, not $100 from each category of check. Back to Top