BUSINESS CHECKING ACCOUNT DISCLOSURE

MINIMUM BALANCE REQUIREMENT

An initial deposit of $100 is needed to open a business account.

TRANSACTION LIMITATIONS

Checks made payable to the business must be deposited into the account for the entire amount. Providing funds are available, a withdrawal may be transacted by cash or check

FEES

If the balance falls below $500 during a monthly statement cycle, a service charge of $10.00 may be assessed.*
No charge for automatic sweep/transfer from another account to cover NSF. Sign-up required

• Stop Payment Order $25.00
• Deposit Item Returned $20.00
• Close-out fee: $30.00 if closed within 90 days of opening
• Check Returned or Electronic Debit Item returned or paid NSF:$27.00

Professional Checking (Interest-bearing Business Checking)
For sole-proprietors, government entities, and non-profit organizations: Interest is earned when balance is $1,000 or more. See current rate schedule.

RATE INFORMATION

Interest Rate and Annual Percentage Yield may change without notice. Interest on non cash deposits begins to accrue on the second day following the day of the deposit. Interest will be credited and compounded to the account monthly on the last day of the month. See current rate schedule for interest rate and annual percentage yield.

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.

*EARNINGS CREDIT

An interest credit is earned and applied against any service charges for the month’s cycle. Monthly fees will be reduced by any earnings credit, but no interest will be paid to the account. Positive credits do not carry over from month to month.