Personal Savings Accounts

Related Information
Traditional plans for customers who need a safe no frills way to protect their capital while earning interest. You are not required to have other accounts to earn interest. If you are over 50, the account is free. It takes $50.00 to open this account. The account includes a monthly statement and Free Direct Deposit.

Minimum Balance to Avoid Imposition of Fees

If balance falls below $200.00 on any day in the statement cycle, a maintenance fee of $1.00 will be imposed once during the cycle.

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 statement cycle with no transfers by check, draft, debit card, or similar to third parties.

Fees

An excess withdrawal charge fee of $.50 will be charged for each debit in excess of six per statement cycle.

Compounding and Crediting Frequency

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

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.

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 no later than the business day we receive credit for the deposit of non cash items (e.g. checks)