Business Savings



Regular Savings Account Disclosure

Balance Information

  • No minimum initial deposit
  • No minimum number or amount of additional deposits.
  • Limited to no more than six (6) pre-authorized or automatic withdrawals/transfers per month.
  • No minimum balance requirement
    • Balance less than $500.00 and six (6) or more withdrawals per month. $5.00 fee will be charged.
    • A service charge of $2.00 will be imposed every calendar month if the balance in this account falls below $100.00 any day of the calendar month.

 

Rate Information

  • Variable Interest Rate - Interest Rate and Annual Percentage Yield may change anytime at our discretion.
  • Interest is paid on the collected balance plus the accrued interest that is unpaid, compounded daily using the Daily Balance Method and credited to the account semi-annually.
  • Interest is paid on the full amount, any accrued but not credited interest will be paid to the consumer.

 

"Daily Cut-off time" per business day: 3:00 p.m.

Statement Cycle: Semi-Annually

  • Any pre-authorized or ATM transactions: Monthly

 



Money Market Savings Account Disclosure

Balance Information

  • Minimum initial deposit: $2,500.00
  • No minimum number or amount of additional deposits.
  • Limited to no more than six (6) pre-authorized or automatic withdrawals/transfers per month.
  • Minimum balance requirement
    • Below $2,500.00 interest is earned at Regular Savings rate.
    • More than six withdrawals a month, a $5.00 per item maintenance charge will apply.
    • A service charge of $2.00 will be imposed every calendar month if the balance in this account falls below $100.00 any day of the calendar month.

 

Rate Information

  • Variable Interest Rate - Interest Rate and Annual Percentage Yield may change anytime at our discretion.
  • Interest is paid on the collected balance plus the accrued interest that is unpaid, compounded daily using the Daily Balance Method and credited to the account monthly
  • Interest is paid on the full amount of the balance daily even though you might pay a maintenance charge.
  • Upon closure of the account, any accrued but not credited interest will be paid to the customer.

 

Fees: Charge per item

Stop-Payment Request $10.00
Overdraft item $10.00
Return item $10.00

 

"Daily Cut-off time" per business day: 3:00 p.m.

Statement Cycle: Quarterly

  • Any pre-authorized or ATM transactions: Monthly
     
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