Truth in Savings Account Disclosure – Personal Statement Savings 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.
Determination of rate – At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency – Interest will be compounded quarterly. Interest will be credited to your account quarterly.
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 $3.00 will be imposed every statement cycle if the balance in the account falls below $100.00 any day of the cycle. This fee will not be charged on the accounts for children under the age of 18.
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $.01 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 on the business day you deposit
noncash items (for example, checks).
Inactivity and Dormant Fees apply reference fee schedule