Personal Banking

ADDITIONAL TERMS

1. Interest Rate and annual Percentage Yields (APY) are variable and may change at any time at the Bank’s discretion. No floor or ceiling has been established. A minimum daily balance must be maintained to obtain the APY. The minimum daily balance that must be maintained is equal to the “Minimum Daily Balance to Earn interest” amount disclosed for each product. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the collected balance in the the account each day. We use an interest accrual basis of 365 days for each day of the year. Interest begins to accrue on the business day the bank receives credit for the deposit of non-cash items such as checks. Accrued but unpaid interest may not be paid if the account is closed. Seven days notice of withdrawal may be required.
2. Pre-authorized automatic and telephonic transfers to a third party of another account of the depositor of this Bank are limited by Federal Regulation to six per statement. No more of these may be made by check, draft or similar external order to pay.
3. If a new account is closed within 90 days of the open date, a $30.00 fee will be imposed.
4. We may close your account at any time, with or without cause by sending out a notice and a check for the balance in our possession to which you are entitled.