Consumer Savings: Regular Savings Account
A great account to build a nest egg or to save for life's unexpected opportunities.
| Minimum Opening Balance: |
$100.00 |
| Statement Frequency: |
Monthly with activity and quarterly without activity. |
| Compounding Frequency: |
Compounded quarterly and is credited quarterly regardless of activity. |
| Transaction Limitations: |
Federal Banking regulations prescribe the following limitations: withdrawals or transfers from a savings account to another account or to third parties by pre-authorized, automatic, or telephone transfers are limited to 6 per month. If you exceed the legally allowed withdrawal or transfer limitation in any month there will be a $15.00 fee for each excessive withdrawal and your account may be subject to closure. |
On all Savings and Money Market accounts, the interest rate and annual percentage yield may changes at any time at our discretion.
Average Daily Balance 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 no later than the second business day after your deposit is made.
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