|
Young or old, you will feel
secure with our Preferred Savings.
Minimum Balance
Requirements
You must deposit $100.00 to
open this account. A service charge fee of $6.00 will be
imposed every statement cycle if the balance in the account falls
below $300.00 any day of the cycle.
Fees
A service charge fee of $2.00 will be charged for each debit
transaction (withdrawal, automatic transfer or payment out of this
account) in excess of nine during a quarter. A Preferred
Savings closing fee of $20.00 will be charged if your Preferred
Savings account is closed within 60 days of opening.
Balance
Computation Method
We use the daily balance method to calculate the interest on your
account. This method applies a daily periodic rate to the principle
in the account each day. Interest begins to accrue no later than the
business day we receive credit for the deposit of non-cash items
(for example, checks).
Interest
Compounded and Crediting
Interest will be compounded
every month and will also be credited to your account every
month. If the account is closed before
interest is credited, you will not receive the accrued interest.
Transaction
Limitations
Transfers from a Preferred
Savings account to another account or to third parties by
preauthorized, automatic, telephone, or computer transfer are
limited to six per month with no transfers by check, draft, debit
card, or similar order to third parties.
Additional
Features
Minimum balance requirements are waived for persons age
22 and younger, or age 55 and older.
|
Equal Housing Lender
