Description:
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Interest-bearing Checking Account
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Requirements:
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- Minimum balance to open the
account - $200.00. You must maintain a minimum balance of
$1,000.00 in the account each day to obtain the disclosed
annual percentage yield.
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Benefits:
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- Interest begins to accrue on the business day you deposit.
This includes for example checks drawn on other financial
institutions.
- We use the daily balance
method to calculate the interest to your account. This
method applies a daily periodic rate to the principal in the
account each day. Interest begins to accrue the business day
you deposit it. Interest is credited quarterly.
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Cost:
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- Minimum balance to avoid
imposition of fees- If your balance falls below $300.00 on
any day in the monthly statement cycle, we will impose a
service charge fee of $9.00 per monthly statement cycle plus
$.25 per check in excess of 15 during a statement cycle.
- If your balance is at
least $300.00 on every day in the monthly statement cycle
but falls below $500.00 on any day during the monthly
statement cycle we will impose a service charge of $8.00 per
monthly statement cycle plus $.25 per check in excess of 15
during a statement cycle.
- If your balance is at
least $500.00 on every day in the monthly statement cycle,
but falls below $1,000.00 on any day during the monthly
statement cycle, we will impose a service charge fee of
$5.00 per monthly statement cycle plus $.25 per check in
excess during a statement cycle.
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