MONEY MARKET ACCOUNT
A Money Market Account gives you the opportunity to earn a very competitive interest rate while allowing you a limited number of withdrawal transactions each month.
- Unlimited deposits can be made
- Earn Interest on account balances
- Monthly statements with images
- Free Online Banking
- No Monthly fee for downloading to Quicken or QuickBooks
- Overdraft Privilege available with approval
- Minimum to open account $2,500
Fees: No service fee if a $2,500 average daily balance is maintained
- $7.50 monthly service fee if average daily collected balance falls below $2,500.
NO MORE THAN 6 DEBIT TRANSACTIONS ARE ALLOWED EACH STATEMENT CYCLE
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 and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.Average daily balance computation method - We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle.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).