Rate information – See current rates. At our discretion, we may change the interest rate for this account. The interest rate and annual percentage yield may change weekly.
Compounding frequency – Interest will be compounded quarterly.
Crediting frequency – Interest will be credited into this account quarterly.
Average daily balance computation method – Interest is calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the balance 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 to make this calculation is monthly.
Accrual of interest on non-cash deposits – Interest will begin to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks) into your account.
Minimum balance to open – The minimum balance required to open this account is $100.
Minimum balance to avoid Service Charge – If your balance falls below $100 on any day in the month, your account will be subject to a $5 Service Charge for that month. If you are under 24 years of age or over 65 years of age or older you will not be required to maintain a minimum balance.
Deposit limitations – You may make an unlimited number of deposits into your account.
Withdrawal limitations – You may make no more than six preauthorized withdrawals, automatic or telephone transfers, checks, drafts, and debit card or other similar transactions from your account per month. Exceeding the transaction limitation is prohibited by regulation. In person transactions are not limited. If the limits are repeatedly exceeded, we are required to change your account type or remove the account transfer and draft capabilities.
Fees and charges – The following fees and charges apply to this account:
- Excessive Transfer Fee: $10 fee will be imposed for each transfer to a third party in excess of 6 during each month.
Additional terms – We discourage establishing an account that requires two (2) or more signatures on any items drawn on the account. You acknowledge that such a provision of requiring two signatures is solely for your personal or internal control purposes. You shall indemnify and hold us harmless for losses due to paying any item bearing at least one authorized signature.