• Passbook Savings Account
• Money Market Deposit Account

Passbook Savings Account

A savings account is a great way to save for future purchases or just to have for a rainy day.  We offer the passbook Savings Account to both personal and commercial customers.

Passbooks Saving Features include:

• The interest rate and annual percentage yield may change at any time
• We may change the interest rate at our discretion
• Interest will be compounded and credited to your account every three months.
• $10.00 minimum balance to open this account
• A maintenance fee of $1.00 will be imposed each month if the balance for the entire month falls below $25.00
• 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
• Interest begins to accrue on the business day your deposit non-cash items
• Transfers from a Passbook Savings Account to another account or a third party by pre authorized, automatic, or telephone transfers are limited to three per month
• Overdraft and return items fees are $15.00 per item.  An insufficient funds item may be created by check, in-person withdrawal, ATM withdrawal or other electronic means
• An annual year-end statement is issued to update your passbook.
  

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Money Market Deposit Account

• The interest rate and annual percentage yield may change at any time
• We may change the interest rate at our discretion
• Interest will be compounded and credited to your account every month
• $500.00 to open this account
• A maintenance fee of $10.00 will be imposed each monthly cycle if the average daily balance falls below $1,500.00.  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 day in the period. 
• We use the daily method to calculate the interest on your account.  This method applies a daily periodic rate to the principal in the account each day.
• Interest rate begins to accrue on the business day you deposit non-cash items
• Transfers from a money market to another account or to third parties by pre-authorized, automatic, or telephone transfers are limited to six per month with no more than three by check, draft, or similar order to third parties
• A per item fee of $.25 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account), if the minimum balance falls below $1,500.00
• Overdraft and return item fees are $15.00 per item.  An insufficient funds item may be created by check, in-person withdrawal, ATM withdrawal or other electronic means
• Check imaging

For a detailed disclosure on any of the accounts listed above, please contact us.

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