Personal Banking

Savings Accounts

Personal Savings - Rates Board

Rate information - Your interest rate and annual percentage yield may change. 
Frequency of rate changes - We may change the interest rate on your account at any time. 
Determination of rate - At our discretion, we may change the interest rate on your account. 
Compounding and crediting frequency - Interest will be compounded every day. Interest will be credited to your account every quarter. 
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 - You must deposit $200.00 to open this account. 
Minimum balance to avoid imposition of fees - A maintenance fee will be imposed every statement cycle if the current daily balance for the cycle falls below $600.00. The amount of the fee will be determined as follows:

Minimum balance fee is waived on minor accounts ( TUTMA & Custodial)

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $200.00 to obtain the disclosed annual percentage yield. 
Average daily balance computation method - We use the current daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal balance in the account plus any accrued unpaid interest.  
Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). 
Transaction limitations (per Regulation D): Preauthorized transfers are limited to six per month, no more than three of which may be by draft, debit card, or similar order made to third parties. Types of transactions that fall within the six per month limitation are ACH debits and transfer from a savings account at the telephoned request of the customer made directly to a bank employee. Types of transactions that fall within the three limitation are transactions made with an ATM / Debit (point-of-sale) card. The following types of transfers are permissible in unlimited numbers: preauthorized transfers for the purpose of paying loans at the same institution, transfers or withdrawals made by mail, messenger, ATM or in person (withdrawals and transfers to another account of the depositor at the same financial institution), and withdrawals initiated by telephone and consummated by a check mailed to the depositor. There is no limit on the number of deposits that can be made by any method. Fees: An excess withdrawal fee of $5.00 will be charged for each withdrawal or transfer in excess of three during a quarterly statement cycle, if no ATM card has been issued, or in excess of one during a monthly statement cycle.

Christmas  Club Account

If any withdrawals are made from this account before maturity then this account may be closed. Each Christmas Club account level requires 50 weekly payments. The account will mature at the end of the plan year, October 15th.

FEES: A fee of $5.00 will be charged for each deposit item returned unpaid. A fee of $5.00 will be imposed if the account is closed prior to maturity. A fee of $5.00 will be charged if all 50 scheduled payments are not made before account maturity.

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