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Personal Savings

Savings Tier Account

  • 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. However, the interest rate on this account may be lowered only with a 30 day prior notification.
  • 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.
  • Minimum balance to open the account: You must deposit $100.00 to open this account.
  • Minimum balance to avoid imposition of fees: A service charge fee of $5.00 will be charged to your account every quarter, if the balance in the account falls below $100.00 any day of the quarter. A quarterly statement will be sent each quarterly cycle.
  • 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: Transfers from a savings account to another account or to third parties: preauthorized, automatic, telephone, or computer transfer are limited to six per month with no transfer by debit card or similar order to third parties. You may make no more than six withdrawals per quarter without charge.
  • Fees: A withdrawal fee of $2.00 will be charged to your account each quarter for each withdrawal in excess of six during a quarter. Deposit/withdrawal books billed at cost.

Interest that has accrued but not credited back to the account at closing will be forfeited.