Savings Account
- Interest is paid quarterly
- $50.00 minimum to open account
- No images returned
- Free Internet and Telephone banking
- ATM Card available
Rate Information:
Contact the bank for the current rate
and annual percentage yield (APY) for the Savings account. Your interest rate and
APY may change. At our discretion,
we may change the rate on or about the first Tuesday of
each month. Thirty days notice will be given, in
writing, before the rate is decreased on your savings account.
Interest:
Interest will be compounded daily and be
credited to your account every quarter. If you close
your account before interest is credited, you will
forfeit the accrued interest. 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. Interest begins to accrue on the
same business day as the business day of deposit.
Fees:
An excessive withdrawal charge of 50 cents per
withdrawal after three per quarter will be assessed
against your account.
Telephone transfers are limited to 6 transfers in a
monthly statement cycle. No transactions to third
parties are permitted. We reserve the right to at any
time require not less than 7 days notice in writing
before each withdrawal from this account. |
