Savings


Savings Accounts not only help us prepare for future needs and opportunities, they are also a proven way to teach our children about managing their money and the rewards of a long-term perspective. Interest earned is compounded quarterly, and you will receive a quarterly statement. 
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The Maintenance Fee, per statement cycle, is $3.00 if your balance falls below $25.00 at any time during the cycle.  If there are three (3) or more debits per quarter, there will be a $.50 Excess Savings Withdrawal Fee for each additional debit.

The minimum balance required
to open the account is $25.00.  The minimum balance required to open the account, the quarterly maintenance fee, and the Excess Savings Withdrawal fee will be waived for preschool children, full time students in grad school, high school and college, and account holders 65 years of age and older.

Interest begins to accrue
on the same business day that you deposit non-cash items (for example, checks).  We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the ledger balance in your account each day.  Interest will be compounded and credited to your account quarterly. (March 31st, June 30th, September 30th, and December 31st).  You will receive a statement on a quarterly basis, unless there is an electronic transaction to your account.  In those cases, you will receive a monthly statement.  If you advise us that you wish to close your account, interest will be paid to the day of closing.  An account in considered closed when it reaches a zero balance.

There is a transaction limitation of six (6) transfers from your account per month.

ACCOUNT RELATED FEES apply to this account.