MONEY MARKET ACCOUNT

An interest bearing deposit account which requires a minimum balance and permits limited transaction privileges. Interest will be paid at high, competitive rates on balances of $2,500.00 or more. Balances between $1,000.00 - $2,500.00 will receive the same rate of interest as our NOW account.

Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the Interest Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue on the business day you deposit noncash items (for example, checks), if received by 3:00 p.m. Interest will be compounded monthly. Interest will be credited to the account monthly.

Balance Information: We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum daily balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.

Limitations: You must deposit $2,500.00 to open this account. Federal regulation limits the number of checks, telephone transfers, online transfers and preauthorized electronic transfers to third parties (including Point of Sale transactions) from money market and savings type accounts.  You are limited to six such transactions from each money market and/or savings type account(s) you have each month for the purpose of making a payment to a third party or by use of a telephone or computer.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.

Account Fees: To avoid a monthly service charge of $5.00 you must maintain an average daily balance of at least $1,000.00. 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 days in the period.

The following fees apply:

Check Printing: Price Varies Depending on Style
Imaged Check Copies: $1.00 per Item for Items in Excess of 3 per Statement Cycle
Return of Post Dated Items: $25.00 per Item
Stop Payment: $30.00 per Item
Unsatisfactory Account Closure Fee: $15.00 per Account
Auto-Transfer Non-Sufficient Funds: $25.00 per Item
Interim Statement: $5.00
Non-Sufficient Funds: $25.00 per Item (No Limit)
Overdraft Protection (ATS): $3.00 per Day

 

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