Overview –This account offers a standard checking account with the opportunity to earn interest. Highlighted features include unlimited check writing privileges (checks may be purchased through Deluxe at the bank), Debit/ATM card and Internet Banking with an option of Bill-Pay service.
Minimum balance to open the account – $100 minimum balance to open.
Rate Information – Account rates are available at all branches and also posted online for customer convenience. The interest rate and annual percentage yield may change on the account at any time and at our discretion.
Compounding and crediting frequency – Interest will be compounded and credited to the account every month.
Effect of closing an account – If the account is closed before the interest is credited, you will not receive the accrued interest.
Minimum balance to avoid imposition of fees – A service charge fee of $5 will be imposed every statement cycle if the balance in the account falls below $300 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $300 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method – We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits – Interest begins to accrue on the first business day after the banking day the non-cash items were deposited (for example, checks).