DISCLOSURE OF ACCOUNT TERMS
CHECKING ACCOUNTS
RATE INFORMATION
Refer to the current rate schedule for your Interest Rate and Annual Percentage Yield information. Your Interest Rate and Annual Percentage Yield may change without notice at our discretion. Interest on non cash deposits begin to accrue on the second day following the day of your deposit. Interest will be compounded and credited to your account monthly on the last day of the month.
MINIMUM BALANCE REQUIREMENT_______PERSONAL CHECKING – You must deposit $10.00 to open this account.
_______PREFERRED CHECKING – You must deposit $1000.00 to open this account. Interest is earned at the rate specified on the current rate schedule for the number of days in that particular rate/balance tier.
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.
TRANSACTION LIMITATIONS
After the account is opened, you may make deposits into the account at any time. Withdrawals by cash or by check may be made as long as those funds are available to be withdrawn.
FEES
_______PREFERRED CHECKING – If the balance falls below $1000.00 anytime within the monthly
statement cycle, a $10.00 monthly charge for servicing the account will be assessed.
There is a close out service charge of $30.00 on accounts closed within 90 days of opening.
Other service charges: Checks returned NSF$27.00 Stop Payment Order $25.00. Deposit Item Returned $20.00. Electronic Debit Item Returned NSF $27.00.
See FEE SCHEDULE
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