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Savings Account
Account Description: This savings account is for the
customer who wants to earn interest on their personal savings. Many
customers set up a savings account for their children and/or grandchildren.
They are also often used to save money for unexpected events, taxes,
vacations, and other expenses.
Requirements:
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Minimum deposit to open account - $100.00 ($50.00
for minors) |
Benefits:
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No quarterly service charge if daily balance is
kept at $300 or higher, otherwise a fee of $5.00 will be assessed.
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Service charge is waived for minors under the age
of 18 |
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Interest is compounded daily and credited to your
account every quarter |
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Automatic transfers can be set up between savings
and checking accounts |
Withdrawal Limitations:
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Transfers from a Savings Account to another account
or to third parties by preauthorized, automatic, electronic, internet,
telephone transfer or in-person withdrawal are limited to three (3) per
quarter. |
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An excessive item charge of $1.00 will be charged
for each debit transaction (withdrawal, automatic transfer or payment
out of this account) in excess of three during a quarter. |
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