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Deposit Account Information Personal Deposit Account Fees and Disclosures:
All accounts held by natural persons (personal accounts) are not transferable except on the books of the depository institution. This disclosure contains information about your:
NOW Checking Account:
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest is compounded daily and credited monthly. 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. Monthly minimum balance service charge if the average daily balance drops below $500.00 for the statement period is $6.00
Personal Checking Account:
Personal checking accounts are non-interest bearing. There is no monthly minimum balance service charge. Holiday Club Account Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily. Interest begins to accrue on the business day you deposit noncash items (for example checks) Interest s compounded daily and credited monthly. 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. The balance in your account will be automatically disbursed to you in mid-October. Interest will be credited through date of disbursement. There are no monthly service charges. Passbook Savings Account Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily. Interest begins to accrue on the business day you deposit noncash items (for example checks). Interest is compounded daily and credited monthly. 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. There will be a monthly minimum balance service charge of $2.00 if the average daily balance drops below $100.00 for the month. Certificate of Deposit The interest rate for your account will be paid until the maturity date of your certificate. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest is compounded daily and credited monthly. This account will automatically renew at maturity. You will have seven (7) calendar days from the maturity date to withdraw your funds without being charged a penalty. After the account is opened you may not make deposits into/withdrawals from your account until the maturity date, other than the withdrawal of interest that has been credited to your account. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. 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. If any of the deposit is withdrawn before the maturity date, a penalty as shown below will be imposed.
Money Market Account Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily. You may make an unlimited number of transfers from your account, but only three (3) may be payments by checks to third parties. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest is compounded daily and credited monthly. 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. Under Federal Regulations, which authorize this account this Institution is required to reserve the right to require at least, seven (7) days notice prior to withdrawal or transfer of funds from this account/ If this Institution determines to exercise this right, it will do so on a seven (7) day basis and the accountholder's request for withdrawal or transfer of funds will constitute commencement of the notification period. Monthly minimum balance service charge of $5.00 if the average daily balance drops below $500.00 for the statement period. A service charge of $2.00 per check will be imposed if more than three checks are written per statement period.
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