More Information on Checking Accounts

 

Economy Checking  

Minimum Balance = $0.00

Our economy checking was made for you. With no minimum balance and no initial deposit, this is your go-to, everyday checking product. NO hidden fees, no extravagant extras. Just checking made for you, from us.

Monthly Service Fee: $5.00

 

Money Market Deposit Account

Got some extra cash? Want to earn a little money for doing nothing? The Money Market is for you. There is no downside; you earn interest on your money (always great) and you have full access to it!

Rate Information:

Your interest rate and annual percentage yield may change at any time. 

Frequency of Rate Changes:

We may change the interest rate on your account daily. 

Determination of Rate:

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

 

Compounding and Crediting Frequency:

Interest will be compounded every month. Interest will be credited to your account every month.

 

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 $2,500.00 to open this account.

 

Minimum Balance to Avoid Imposition of Fees:

If your balance falls below $501.00 on any day in the monthly statement cycle, we will impose a service charge fee of $25.00 for that monthly statement cycle. If your balance is at least $501.00 on every day in the monthly statement cycle but falls below $2,501.00 on any day during the monthly statement cycle, we will impose a service charge fee of $15.00 for that monthly statement cycle.

 

Minimum Balance to Obtain the Annual Percentage Yield Disclosed:

You must maintain a minimum balance of $501.00 in the account each day to obtain the disclosed annual percentage yield.

 

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 Noncash Deposits:

Interest begins to accrue on the first business day after the banking day you deposit your noncash items (for example, checks).

 

Transaction Limitations:

Transfers from a Money Market Deposit account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle.