Personal Savings

Rate information-

  • Your interest rate and annual percentage yield may change.

Frequency of rate changes-

  • We may change the interest rate on your account at any time.

Determination of rate-

  • At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency-

  • Interest 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.

Minimum balance to open the account-

  • You must deposit $100.00 to open this account.

Minimum balance to avoid imposition of fees-

  • A maintenance fee of $7.50 will be imposed every statement cycle if the average daily balance for the cycle falls below $200.00. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Minimum balance to obtain the annual percentage yield disclosed-

  • We do not require you to maintain a minimum average daily balance in the account to obtain the disclosed annual percentage yield.

Average daily balance computation method-

  • We use the average daily balance method to calculate the interest on your account. This method  applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the quarter.

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 (i.e., checks).

Transaction limitations-

  • Transactions are limited to no more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per statement cycle, to another account of the depositor at this bank or to a third party by means of a preauthorized or automatic transfer, or telephonic agreement, order or instruction, and no more than three of the six such transfers may be made by check, draft, debit card, or similar order made by the depositor and payable to third parties.

Fees-

  • A transaction fee of $5.00 will be charged for each debit transaction (withdrawal, automatic transfer or payment out of this account) in excess of six during a statement cycle.
  • A maintenance fee of $7.50 may be imposed each statement cycle. See minimum balance requirements.
  • The maintenance fee is waived for individuals age 18 and under, transaction fees will apply.

Features-

  • E-Statements are available for accounts enrolled in Online Banking.
Link to Online Banking
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