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Commercial Checking

Money Market

 

 

Commercial Checking

Minimum balance to open the account - You must deposit $100.00 to open this account.

Fees:  A service charge fee of $5.00 will be charged each monthly statement cycle. The following activity fees will be imposed each monthly statement cycle:

Per check

$.10

Per deposit

$.10

Per transit item (out-of-town check)

$.03

You will earn a credit of $.10 for each $100.00 of the average available balance in excess of $499.00 during the statement cycle. This earnings credit will be applied to reduce the service charge and activity fees.

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Money Market

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, 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 of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.

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: Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, debit card, or similar order to third parties are limited to six per statement cycle.

Fees:  An excess activity fee of $1.00 will be charged for each check or debit in excess of six during a statement cycle.

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