Money Market Account
Features:
- Earn interest as long as your account balance is $2,500.00 or over
- Interest rates are tiered so higher balances mean higher interest rates
- Free Online Banking
- Free Mobile Banking
- Free eStatements with check images
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 any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding frequency - Interest will be compounded monthly.
Crediting frequency - Interest will be credited into this account monthly.
Minimum balance to open the account - You must deposit $2,500.00 to open this account.
Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $2,500.00 in your account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
Deposit limitations - You may make an unlimited number of deposits into your account.
Fees: An excess activity penalty fee of $10.00 will be charged for transactions (withdrawal, check paid, automatic transfer or payment out of this account) exceeding six total per month.