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 month. Interest will be credited to your account every month.
Effect of closing an account - If you close your account before interest is credited and accrued interest is less than $1.00, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $2,500.00 to open this account.
Minimum balance to avoid imposition of fees - A service charge fee of $8.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Average daily balance computation method - We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.
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 (i.e. checks).
Fees: A monthly per check/debit fee of $.25 will be charged for each check/debit in excess of 15 during a statement cycle. This fee will be waived if the account is truncated or safekept. If we retain your checks or any other evidence of debit or credit entries to your account and do not return them to you, we may destroy them and use reasonable care to maintain legible copies for seven years. Copies are available to you for a fee. Our responsibility for furnishing copies of items is limited to those, which are available and legible on media.