Account Overview – The Power Saver Account pays interest on a tiered system. The higher level tiers often pay rates better than many certificates of deposit in the market. This gives you another option besides a regular statement savings.
Rate Information – Your interest rate and annual percentage yield may change.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account – You must deposit at least $5,000 to open this account.
Minimum balance to avoid imposition of fees – A service charge fee of $10 will be imposed every month if the balance in the account falls below $2,500 any day of the month.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,000 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 your account. This method applies a daily periodic rate to the principal in the account each day.
Transaction limitations: No cash or check withdrawals/deposits permitted from/to this account. All transactions are to go through a checking account. A minimum of three transactions are required monthly in the checking account to demonstrate that it is an active account. Transfers from a Power Saver account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.
Power Saver Account Information
• Tier 1 - $100,000 or greater
• Tier 2 - $80,000 to $99,999.99
• Tier 3 - $60,000 to $79,999.99
• Tier 4 - $50,000 to $59,999.99
• Tier 5 - $40,000 to $49,999.99
• Tier 6 - $30,000 to $39,999.99
• Tier 7 - $20,000 to $29,999.99
• Tier 8 - $10,000 to $19,999.99
• Tier 9 - $5,000 to $9,999.99
• Tier 10 - $1000 to $4,999.99