Minimum Balance Fee of $2.00 will be charged if the daily balance falls below $50.00 any day of the statement cycle.
Interest on your account will be compounded and credited quarterly.
You must maintain a minimum daily balance of $50.00 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).
During any calendar month or statement cycle of at least 4 weeks, you may
not make more than six (6) withdrawals or transfers to another account of yours or
to a third party by means of a pre-authorized or automatic transfer or
telephonic (including data transmissions) agreement, order or instruction, or by
check, draft, debit card, or similar order made by the depositor to third parties.
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 debit item charge of $1.00 will be imposed for each withdrawal in excess.
If you close your account before interest is credited, you will not receive the accrued interest.
$10.00 service charge to close account if opened less than six (6) months.
Customers with savings accounts must maintain a $50.00 minimum balance to avoid check cashing fees.