Money Market Accounts
Money Market Accounts earn a higher interest rate than NOW Checking Accounts but Federal Regulations limit the number of transactions drawn on the account to six per statement cycle. You are allowed six transactions for preauthorized, automatic, telephone or computer transfers or payments by check, draft or similar order to third parties. Over the counter and ATM withdrawals are unlimited.
| Account Details |
| Minimum Opening Deposit |
$2,500.00 |
| Monthly Service Fee |
A service charge fee of $6.00 will be imposed one time per statement cycle if the balance in the account falls below $1,000.00 at any point during that statement cycle. If you maintain a balance of $1,000.00 or more there are no service fees on this account. |
| Excess Debit Fee |
An excess debit fee of $5.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six during a statement cycle. |
| Additional Fees |
Overdraft/NSF fees of $30.00 per item will be assessed to Money Market Accounts. |
| Account Balance |
Current APY* |
Current Interest Rate* |
| $1000.00 to $2499.99 |
0.25% |
0.25% |
| $2500.00 or more |
0.35% |
0.35% |
* All interest rates and annual percentage yields (APY) indicated are accurate for
only and are subject to change without notice. |
| Additional Features and Benefits |
| Secure Online Access |
- 24/7 account access
- View balances and statements
- Receive balance alerts
- Manage all of your finances
|
| Online Money Management Tools |
- Financial Tracking and Analysis
|
- All individuals and entities may own this type of account.
- Transfers from a Money Market Checking Account to another account or third parties by preauthorized, automatic, telephone or computer transfer or by check, draft or similar order to third parties are limited to six per calendar month.
- The interest rate and annual percentage yield you will obtain on this account may change at any time. Interest begins to accrue the day you deposit non cash items (for example, checks). Interest will be compounded every month and credited to your account on the last day of the statement cycle.
- You must maintain a minimum balance of $1,000.00 in this account each day to obtain the disclosed annual percentage yield of the lower disclosed rate above.
- You must maintain a minimum balance of $2,500.00 in this account each day to obtain the disclosed annual percentage yield of the higher disclosed rate above.
- No interest will be paid on your account on the day or days your balance is less than $1,000.00.
- 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.
- Any services fees or overdraft fees applied to this account may reduce earnings on the account.
- If you close your account before interest is credited, you will not receive the accrued interest.
