Personal Banking
> Savings
|
Savings |
Checking |
IRAs & CDs
| Other Services |
Rates
|
| We offer several savings accounts to meet your
banking needs. To learn more about specific account
features, check out the individual account types
that interest you.
Passbook Savings |
Money Market Savings
Passbook Savings
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 semiannually.
Interest will be credited to your account
semiannually.
Effect of Closing an Account: If you
close an account before interest is credited,
you will not receive the accrued interest.
Minimum Balance to Open: You must deposit
$25.00 to open this account.
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 business day
you deposit noncash items (for example, 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.
top of page
Money Market Savings 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 month.
Interest will be credited to your account every
month.
Effect of Closing an Account: If you
close an account before interest is credited,
you will not receive the accrued interest.
Minimum Balance to Open: You must deposit
$1000.00 to open this account
Minimum Balance to Avoid Imposition of Fees:
A minimum balance fee of $6.00 will be imposed
each monthly cycle if the average daily balance
for the monthly statement cycle falls below
$1000.00. The average daily balance is
calculated by adding the principal in the
account for each day of the period and dividing
that figure by the number of days in the period.
Average Daily Balance Computation Method:
We use the average daily balance method to
calculate the interest on your account. This
method applies a periodic rate to the average
daily balance in the account for the period. The
average daily balance is calculated by adding
the principal in the account for each day of the
period and dividing that figure by the number of
days in the period. The period we use is
monthly.
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
Money Market 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 fee of
$1.00 will be charged for each debit transaction
in excess of six during a statement cycle.
top of page |
