DISCLOSURE OF ACCOUNT TERMS

SAVINGS 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 begins to accrue on non cash deposits on the second day following the date of your deposit for the STATEMENT SAVINGS, MONEY MARKET, PASSBOOK SAVINGS, CHRISTMAS CLUB and the PREFERRED SAVINGS accounts. Interest begins to accrue on non cash deposits on the day of deposit for the INTEREST PLUS SAVINGS accounts.

Interest is compounded and credited to the STATEMENT SAVINGS, MONEY MARKET, and INTEREST PLUS ACCOUNTS, monthly by the last day of the month. Interest is compounded and credited to the PASSBOOK SAVINGS and the PREFERRED SAVINGS ACCOUNTS quarterly by the last day of the quarter. Simple interest is earned on CHRISTMAS CLUB ACCOUNTS and credited in mid October, when checks are issued. CHRISTMAS CLUB ACCOUNTS will not earn any interest if the account is closed prior to the October interest crediting date.

MINIMUM BALANCE REQUIREMENT

________PASSBOOK SAVINGS – You must deposit $50 to open this account. You will earn interest for the number of days your balance is $50 or more at the rate specified on the current rate schedule within that particular rate/balance tier.
________STATEMENT SAVINGS – You must deposit $50 to open this account. You will earn interest for the number of days your balance is $50 or more at the rate specified on the current rate schedule within that particular rate/balance tier.
________MONEY MARKET – (Existing accounts only) You must maintain $1,000 to earn highest rate. Daily interest is earned on balances greater than $50. Refer to current rate schedule
________PREFERRED SAVINGS – You must deposit $2,500 to open this account. You will earn interest for the number of days your balance is $2,500 or more at the rate specified on the current rate schedule within that particular rate/balance tier.
________CHRISTMAS CLUB – You must deposit a minimum of $25 to open this account.
________INTEREST PLUS SAVINGS - You must deposit $2,500 to open this account. You will earn interest for the number of days your balance is $2,500 or more at the rate specified on the current rate schedule within the 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 may be made as long as those funds are available to be withdrawn.

FEES

________PASSBOOK SAVINGS – If the balance falls below $50 anytime within the quarter, a $5.00 quarterly service charge will be charged.

________STATEMENT SAVINGS - If the balance falls below $50 anytime within the month, a $3.00 monthly service charge will be charged.

________PREFERRED SAVINGS – If the balance falls below $2,500.00 anytime within the quarter, a $10.00 quarterly service charge will be charged.

________INTEREST PLUS SAVINGS - If the balance falls below $2,500.00 anytime within the month, a $10.00 monthly service charge will be charged.

Other Service Charges:
Deposit Item Returned 20.00
Debit Item Returned NSF $27.00
Closeout service charge: $30.00 (on accounts closed within 90 days of opening)

See FEE SCHEDULE