Savings Accounts
Regular Savings
Interest is compounded daily on your savings account and is credited to your account on March 31st, June 30th, September 30th, and December 31st of each year. Interest is paid on collected balances only and accounts closed prior to the end of the quarterly statement period will not receive interest for that period.
You can open a savings account with a deposit of $50.00 or more and earn interest each day when your minimum balance is $100.00 or more during the statement cycle. There is a maintenance fee of $5.00 per statement month if the balance falls below $300.00 during the statement cycle. You may make up to six withdrawals or pre-authorized debits from the savings account each quarter at no cost. There is a $4.00 excessive transaction fee for each withdrawal or debit in excess of six per quarter.
Federal banking regulations limit transfers from a Regular Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer to six per month with no transfers by check, draft, debit card, or similar order to third parties.
Children's Savings
For youngsters under the age of 18, you can begin their savings habit with a Children's Savings accounts. This account works just like the Regular Savings account, except that the minimum balance requirement is waived. We only require a $10.00 opening balance.
You may make up to six withdrawals or pre-authorized debits from the savings account each quarter at no cost. There is a $4.00 excessive transaction fee for each withdrawal or debit in excess of three per quarter. Federal banking regulations limit transfers from a Regular Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer to six per month with no transfers by check, draft, debit card, or similar order to third parties
