Savings

Savings

Interest Rates and APYs Rates are effective as of March 27, 2013 .

*Regular Savings Account – Interest Rate 0.10% % APY 0.10%

Interest Rate Information – Interest rate and annual percentage yield may change
Frequency of interest rate changes – We may change the interest rate on your account at any time.
Determination of interest rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded quarterly. Interest will be credited to your account quarterly.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – $50.00
Minimum balance to avoid imposition of fees – A monthly maintenance fee of $.50 plus any applicable tax will be imposed every monthly statement cycle if the balance in the account falls below $50.00 any day of the cycle.
Minimum balance to obtain Annual Percentage Yield – $50.00
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic interest rate to the principal in the account each day.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transactional limitations – During any statement cycle, you may not make more than six withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephone order or instructions, whether initiated by check, debit card or similar order to a third party.

*Student Savings Account – Interest Rate 0.10% APY 0.10%

Interest Rate Information – Interest rate and annual percentage yield may change
Frequency of Interest Rate changes – We may change the interest rate on your account at any time.
Determination of Interest Rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded quarterly. Interest will be credited to your account quarterly.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – $10.00
Minimum balance to avoid imposition of fees – No fee will be imposed based upon balance requirements.
Minimum balance to obtain Annual Percentage Yield – No minimum balance is required to obtain the 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 Interest Rate to the principal in the account each day.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transactional limitations – During any statement cycle, you may not make more than six withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephone order or instructions, whether initiated by check, debit card or similar order to a third party.

*Money Market Savings Account – Interest Rate 0.20% APY 0.20% If balance falls under $1,000.00 Interest Rate 0.10% APY 0.10%

Interest Rate Information – Interest rate and annual percentage yield may change
Frequency of Interest Rate changes – We may change the interest rate on your account at any time.
Determination of Interest Rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – $1,000.00
Minimum balance to avoid imposition of any fees – No minimum balance is required to avoid imposition of any fees.
Minimum balance to obtain Annual Percentage Yield – No minimum balance is required to obtain 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 Interest Rate to the principal in the account each day.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transactional limitations – During any statement cycle, you may not make more than six withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephone order or instructions, whether initiated by check, debit card or similar order to a third party.

*Cash Management Account
  • $75,000 & above Interest Rate 0.45% APY 0.45%
  • $50,000.00 to $74,999.99 Interest Rate 0.35% APY 0.35%
  • $25,000.00 to $49,999.99 Interest Rate 0.25% APY 0.25%
  • $5,000.00 to $24,999.99 Interest Rate 0.20 % APY 0.20%
  • $4,999.99 & less Interest Rate 0.10% APY 0.10%

Interest Rate Information – Interest rate and annual percentage yield may change
Frequency of Interest Rate changes – We may change the interest rate on your account at any time.
Determination of Interest Rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your acoount every month.
Effect of closing an account – If you close your account before interest is credited, you will not receive the accrued interest.
Minimum balance to open the account – $5,000.00
Minimum balance to avoid imposition of fees – A monthly maintenance fee of $5.00 plus any applicable tax will be imposed every monthly statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Minimum balance to obtain Annual Percentage Yield – No minimum balance is required to obtain 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 Interest Rate to the principal in the account each day.
Accrual of interest on noncash deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transactional limitations – During any statement cycle, you may not make more than six withdrawals or transfers to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephone order or instructions, whether initiated by check, debit card or similar order to a third party.

*We may require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regualtion D. *APY (Annual Percentage Yield) assumes interest will remain on deposit until maturity. Deposit terms are subject to change without notice and some limitations may apply. Contact us for further information about applicable fees and terms on deposit accounts. Interest rates and yields are accurate for the date listed. Each depositor is insured up to $250,000.

In accordance with Section 326 of the USA PATRIOT ACT signed October 26, 2001 all persons are subject to the identity verification requirements even though they may be a long term customer of and well known to the Bank.
For the purpose of the regulation, an “account” includes every formal banking relationship that entails ongoing services, dealings or transactions. Some examples are a deposit account, loan, trust relationship or safe deposit box rental.

If you request to open an account or become a signatory on an account with the Bank and the Bank has not previously verified your identity under the new regulatory requirements, the Bank may request documentary verification of your identity, such as driver’s license or passport and/or it will verify your identity through other non-documentary methods. We will ask for your name, address, date of birth, and other information that will allow us to identify you. Similar identification requirements apply to business entities such as corporations and partnerships.

In all cases, protection of our customer(s)’s identity and confidentiality is the Bank’s pledge to you.