Rate information – See current rates. At our discretion, we may change the interest rate for this account. The interest rate may change weekly.

Compounding frequency – Interest will be compounded monthly.

Crediting frequency – Interest will be credited into this account monthly.

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 $1,000.

Minimum balance to avoid service charge – If your balance falls below $1,000 on any day in the statement cycle, your account will be subject to a $10 service charge for the statement cycle. The service charge will not apply if you maintain a $1,500 average collected balance during the monthly statement cycle.

Deposit limitations – You may make an unlimited number of deposits into your account.

Fees and Charges – The following fees and charges apply to this account:

Cost per debit $0.13
Cost per credit None
Cost per item deposited
     On-Us items $0.03
     Transit items $0.06
Cost per roll of coin $0.05
Monthly admin charge $5.00

Additional terms – This account consists of a checking sub-account and a savings sub-account. The bank may periodically transfer funds between these two sub-accounts. On a sixth transfer during a calendar month, any funds in the savings sub-account will be transferred back to the checking sub-account. If your account is a plan on which interest is paid, your interest calculation will remain the same. Otherwise, the savings sub-account will be non-interest bearing. The savings sub-account will be governed by the rules governing our other savings accounts. This process will not affect your available balance, the interest you may earn, FDIC insurance protection, or your monthly statement.

The earnings rate will be tied to the average Federal Funds rate for the month. Investable balance equals the average balance for the month reduced by uncollected funds and the 10% Federal Reserve Requirement. Federal regulations limit the paying of interest on business checking accounts, but a credit allowance against service fees will be earned based on the average investable balance maintained in the account.

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 person or internal control purposes. You shall indemnify and hold us harmless for losses due to paying any item bearing at least one authorized signature.

Account analysis applies. For any month in which an account’s service charges exceed the credit for investable balance, an account analysis will be included with the regular monthly statement and the account will be charged accordingly. The charge will show on the following month’s statement. The account analysis will detail all charges and earnings credits. If the credit for investable balance exceeds the service charges, no account analysis will be included and there will be no charge made to the account. If requested, an account analysis will be sent automatically every month whether or not there is a charge to the account.

Member FDIC