ONLINE BANKING

Savings

SAVINGS ACCOUNTS

$100.00 minimum deposit to open account.
$300.00 minimum daily balance required to avoid $5.00 monthly service fee.
A service charge of $5.00 will be charged for each debit transaction in excess of 9 per quarter.
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 no later than the business day we receive credit for the deposit of noncash items.
Interest is compounded every quarter and is credited to your account every quarter.
At our discretion we may change the interest rate on your account. This can occur as often as weekly.
Transfers from a Savings Account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to 6 per month with no transfers by check, draft or similar order to third parties allowed.

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NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

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