Account Type: Money Market
Minimum Balance Requirements: Requires a beginning deposit of $1000.00 to open this account.
Transaction Limitations: You may make no more that six pre-authorized withdrawals from our account per month or statement cycle, no more than three of which may be by check, draft, or other order payable to third parties. Each transaction over six per statement cycle will be assessed a $5.00 fee.
Account Fees: A base charge of $10.00, plus $0.50 will be imposed every statement cycle if on any day of the cycle the balance drops below $1000.00. The following fees apply to this account: Collection Items: $5.00 per item plus external bank charges. Check Printing: See your Customer Service Representative for pricing. Dormant Account (12 month with no customer initiated activity): $5.00 per month [not to exceed (12) months]. Balancing, Research or Reconciliation Fee: $10.00 per hour.
Interest Rate Information: This account is an interest bearing account. Click here to see the current rate paid on this account. The interest rate and yield may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue on the business day you deposit cash or noncash items (ex. Checks). Interest will be compounded monthly and will be credited to the account monthly.
Balance Information: 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. We will use an interest accrual basis of 365 (or 366 in a leap year) for each day in the year. You must maintain a minimum balance of $1000.00 each day to obtain the disclosed annual percentage yield.