Passbook Savings Account
| |
Interest Rate |
APY |
| 0-$199 |
0 |
0 |
| $200-$4,999 |
.30% |
.30% |
| $5,000-$24,999 |
.50% |
.50% |
| $25,000-$49,999 |
.70% |
.70% |
| $50,000 + |
1.00% |
1.00% |
- $100.00 minimum to open
- Interest will be compounded daily and credited quarterly
- Avoid maintenance fee of $3.00 per quarter if a balance of at least $200.00 is maintained at all times after the end of the first calendar quarter in which the account is opened.
- Must maintain a minimum balance of $200.00 in the account each day to obtain the disclosed annual percentage yield
- You may make no more than six withdrawals per quarter, a $2.00 fee will be charged for every transaction over six.
- Quarterly statement
- Free ATM card
- Free 24-hour account information toll free line (1-866-587-4378)
- Free Automatic Sweeps between accounts (after setup approval)
- Free Online banking
- Interest rate and APY are subject to change without notice.
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IRA Savings
| |
Interest Rate |
APY |
| |
1.49% |
1.50% |
- This is a tax shelter account
- $100.00 minimum to open
- Interest will be compounded daily and credited quarterly
- No setup fee and no service charge
- Must maintain a minimum balance of $1.00 in the account each day to obtain the disclosed annual percentage yield
- Maximum deposits cannot exceed $2,000.00 per year
- There is a penalty for withdrawals assessed by the IRS before age 591/2
- Annual statement
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Additional Information for all savings accounts
- These are variable rate accounts
- We use the daily balance method to calculate interest on your account. This method applies a daily rate to the principal in the account each day
- Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks)
- If you close the account before interest is credited you will not receive the accrued interest
- Passbook savings accounts closed within 90 days may be subject to a $20.00 processing fee
- The interest rate and the annual percentage yield are in effect as of June 3, 2010. Rates are subject to change without notice.
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