Savings

Open a Savings Account

Our Key Terms

• Compounding and crediting frequency – Interest will be compounded every quarter. Interest will be credited to your account every 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 principal in the account each day.
• 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 fee of $1.00 will be imposed every month if the balance in the account falls below $50.00 on any day of the month.
• Rate information – Your interest rate and annual percentage yield may change.
• Determination of rate – At our discretion, we may change the interest rate on your account.
• Accrual of interest on non-cash deposits – Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
• Transaction Limitations – Transfers from a savings account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six per month.
• Fees – An excessive withdrawal fee of $1.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of two during a calendar month. This fee will apply at the bank’s discretion.
• Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.