Money Market

TRUTH-IN-SAVINGS 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 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.
• Minimum Balance to Open the Account – You must deposit $1,000.00 to open this account.
• Minimum Balance to Obtain the Annual Percentage Yield Disclosed – You must maintain a minimum balance of $10.00 in the account each day to obtain the disclosed annual percentage yield. See tiers below:
  • Tier 1 – If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be .20%, with an annual percentage yield of .20%.
  • Tier 2 – If your daily balance is more than $49,999.99, but less than $100,000.00, the interest rate paid on the entire balance in your account will be .10%, with an annual percentage yield of .10%.
  • Tier 3 – If your daily balance is more than $14,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be .07%, with an annual percentage yield of .07%.
  • Tier 4 – If your daily balance is more than $9.99, but less than $15,000.00, the interest rate paid on the entire balance in your account will be .05%, with an annual percentage yield of .05%.
• Daily 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 principal in the account each day.
• Accrual of Interest on Noncash Deposits – Interest begins to accrue on the business day you deposit noncash items (for example, checks).
• Click here for current rates.