| Interest
Bearing Account Disclosure |
Rate Information
Your Interest rate and annual percentage yield may change.
Frequency of Rate Changes
We may change the interest rate on your account at anytime.
Determination of Rate
At our discretion, we may change the interest rate on
your account.
Compounding and Crediting Frequency
Your interest will be compounded and credited monthly
to your Savings, Money Market and NOW accounts.
Effect of Closing an Account
If you close your account before interest is credited,
you will not receive accrued interest. A fee of $25.00
will be charged if you close any account within 90 days
from the date you opened the account.
Collected Daily Balance Computation
We use the collected daily balance method to calculate
the interest on your account. This method applies a
daily periodic rate to the collected principal in the
account each day.
Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business
day we receive credit for the deposit of noncash items
(for example, checks).
Average Collected Balance
The average collected balance is calculated by adding
the collected principal in the account for each day
of the period and dividing that figure by the number
of days in the period.
Transaction Limitations
Refer to description of each product for associated
fees on Savings, and Money Market accounts.
