Personal Savings Accounts
Statement Savings Account
- Minimum Balance to Open - $50.00
- Minimum Balance Fee of $2.00 will be charged if the daily balance falls below $50 any day of the statement cycle.
- Interest on your account will be compounded and credited quarterly.
- You must maintain a minimum daily balance of $50 in the account for each day in the statement cycle to obtain the annual percentage yield.
- 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 on the business day that you deposit non-cash items (for example, checks).
- With the exception of loan payments to us, you may not make more than six (6) preauthorized, automatic, and telephone transfers, (including telephone banking and bill pay, internet banking and bill pay, PC banking payments and transfers) each statement cycle. Of these six (6) allowable transfers, no more than three (3) may be made by check, draft, debit card, check card or similar order payable to a third party (provided such transactions are allowable by us for your particular type of account).
- Note: If you receive your savings statement quarterly, you may make six (6) debit transactions free. If you receive your savings statement monthly, you may make two (2) debit transaction free.
- A $1.00 fee per debit transaction will be imposed if you make more than the allowable debit transactions.
- If you close your account before interest is credited, you will receive the accrued interest.
Christmas Club Savings
- Minimum Balance to Open - $3.00
- Interest accrues at maturity and will be credited to your account at maturity.
- If you close your account before the maturity date, you will not receive accrued interest.
- At our discretion, the Interest rate and annual percentage yield may change at any time. Please contact us for available rates.
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