Regular Passbook Saving

Benefits

• Pays interest quarterly. The interest rate and annual percentage yield are determined by bank management and are subject to change at any time.
• Interest is compounded & credited quarterly at the close of the calendar quarter. To obtain the annual percentage yield disclosed: You must maintain a minimum balance of $1.00 in the account each day. 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 will begin to accrue no later than the business day we receive credit for non-cash items (for example, checks).

Requirements

• Minimum deposit to open: $100

Account Fees

• Transaction limits: Up to 3 withdrawals per month at No Charge. After 3 withdrawals per month-$3 each.
• Banking regulations require us to impose a limit of no more than 6 transfers (withdrawals) per month from Savings Accounts. Accounts exceeding that withdrawal limit must be converted to checking accounts.