Savings Account

Savings Account
Minimum balance to open account You must deposit $50.00 to open this 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.
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 your deposit non-cash item (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 month.
Fees An excessive withdrawal charge of $.50 will be charged for each debit transaction (withdrawal or payment out of this account) in excess of three during a quarter.

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