Savings Account

• Rate Information: Check the Rates page of the Website for information concerning rates.
• Frequency and Determination of rates: We may change the interest rate on your account at any time.
• Compounding Frequency: Interest will be compounded every day. Interest will be credited to your account every statement cycle.
• 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.
• Minimum balance to avoid imposition of fees: A service charge of $3.00 will be imposed every statement cycle if the balance in the account falls below $50.00 any day of the cycle.
• 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 noncash items. (example, checks)
• Transaction limitations: Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to two per month.
• Fees: A per item service charge of $2.00 will be charged for each withdrawal in excess of two during a month.