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Savings & Time Deposit
Accounts
We are proud to
offer a competitive rate every day of the year and our deposits are
insured by the
FDIC.
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STATEMENT SAVINGS
Free notary service, local bookkeeping department and
free packet of withdrawal and deposit slips. |
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Service Charge |
None
if quarterly average daily balance is > $50.00
$3.00 if
quarterly average daily balance is < $50.00
(Service
charge waived for kids < 18 years old) |
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Minimum Opening Balance |
$50.00 |
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Average Balance to Earn Interest |
Average minimum daily balance of $50.00 required to obtain
the annual percentage yield.
Interest is compounded and
credited quarterly. |
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Withdrawal Limits: |
$1.00
per withdrawal over 9 each calendar quarter.
6
withdrawals or transfers to another account of yours or to a
third party by means of a preauthorized or automatic
transfer or telephone order or instruction, or by check,
draft, Visa Gold ATM/debit card or similar order to a third
party. |
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MONEY MARKET SAVINGS
Free notary service, local bookkeeping department and
free packet of checks and deposit slips. |
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Service Charge |
None
if quarterly average daily balance is > $2,500.00
$5.00 |
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Minimum Opening Balance |
$100.00 |
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Average Balance to Earn Interest |
Tiered
Rates:
$2,500 - $9,999
$10,000 - $24,999
$25,000 - $249,999
$250,000 and above
Calculated on the average
daily balance.
Interest is compounded and credited
quarterly. |
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Withdrawal Limits: |
6
withdrawals or transfers to another account of yours or to a
third party by means of a preauthorized or automatic
transfer or telephone order or instruction, or by check,
draft, Visa Gold ATM/debit card or similar order to a third
party. |
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TIME DEPOSIT ACCOUNTS
Free notary service, local bookkeeping department. |
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Service Charge |
None |
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Minimum Opening Balance |
$500.00 |
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Average Balance to Earn Interest |
Interest rate is based upon the length of deposit.
Interest is compounded and credited quarterly. |
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Withdrawal Limits: |
Early
withdrawal penalties:
Term less than one year - 3 months
interest forfeited
Term one year or greater - 6 months
interest forfeited |
Interest rates
and yields are subject to change daily. Please ask for a
current rate sheet. If an account is closed before interest is
credited, accrued interest will not be paid. Interest begins
to accrue no later than the business day we receive credit for the
deposit of non-cash items. We use the average daily balance
method to calculate interest on your account. This method
applies a periodic rate to the average balance in the account for
the period.
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CLICK
HERE FOR MORE INFORMATION ABOUT FDIC INSURANCE COVERAGE
Click here to use the FDIC Insurance Calculator |
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS.
All funds in a “noninterest-bearing transaction
account” are insured in full by the Federal Deposit
Insurance Corporation from December 31, 2010, through
December 31, 2012. This temporary unlimited coverage is in
addition to, and separate from, the coverage of at least
$250,000 available to depositors under the FDIC's general
deposit insurance rules.
The term
“noninterest-bearing transaction account” includes a
traditional checking account or demand deposit account on
which the insured depository institution pays no interest.
It also includes Interest on Lawyers Trust Accounts
(”IOLTAs”). It does not include other accounts, such as
traditional checking or demand deposit accounts that may
earn interest, NOW accounts, and money-market deposit
accounts.
For more information about temporary FDIC
insurance coverage of transaction accounts, visit
www.fdic.gov |
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