Money Market Accounts
Rate Information - Your interest rate and annual percentage yield may change. Click for Rates
Frequency of rate changes - We may change the interest rate on your account at anytime.
Determination of rate - At our discretion, we may change the interest rate on youraccount.
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, you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $1,000.00 to open this account.
Minimum balance to avoid imposition of fees - A service charge fee will be imposed every statement cycle if the balance in the account falls below $250.00 any day of the cycle. See Common Fee Schedule for all charges which may affect your account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
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:
• Deposits accepted only in the amount of $100.00 or more.
• Transfers from a Money Market Account to another account or to third parties by preauthorized, automatic, telephone, computer transfer or by check, draft, debit card or similar order to a third party are limited to six per calendar month.
• Withdrawals allowed only in the amount of $100.00 or more.
• A check will be issued for any closeout balance over $5,000.00.
• No pre-authorized or automatic electronic funds transfer debits are permitted.
