Savings Accounts

Amount Needed to Open Any Amount
Monthly Fee Structure No Charge if: minimum daily balance is $200 or more. Otherwise, $6.00/quarter.
ATM Card Availability YES(Statement Accounts), NO(Passbook Accounts)
Monthly Benefits 18 FREE withdrawals per quarter, then $1.00 each. If account is closed within 6 months of opening, fee of $10.00. Checks not permitted.
Interest Basis Variable rate paid on daily balance.
Interest Compounding Period Quarterly
Interest Payment Period Quarterly
Statement Availability YES (Statement Accounts), NO(Passbook Accounts)
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 quarterly. Interest will be credited to your account quarterly.
Effect of closing an account If you close your account before interest is credited, you will not receive the accrued interest. If you close your account within 6 months of opening a fee of $10.00 will be charged.
Minimum balance to avoid imposition of fees A service charge fee of $6.00 will be imposed each quarter the balance in the account falls below $200.00 any day of the quarter.
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 account each day.
Accrual of interest on noncash deposits Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction limitations: Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month with no more than three by order to third parties.

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