Savings Account
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 $50.00 to open this account.
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 non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Transaction limitations:
Transfers from a Savings account to another account or to third parties by
preauthorized, automatic, or telephone transfer are limited to six per quarter with no
more than three by debit card or similar order to third parties.
Fees:
A fee of $3.00 monthly maintenance fee will be imposed on your account if your balance
falls below $50.00.
A debit charge of $2.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of three during a quarter.
Statement:
You will receive only an itemized statement - items will be retained by the bank.
Call for our current competitive interest rates on Savings accounts!