Savings Accounts

Savings Accounts

A savings account is an interest bearing account and there is no minimum balance to open the account. There can be no more than 6 preauthorized, automatic, or telephone transfers to a third person or to another account of the depositor per month. Contingent upon a thirty day posted notice, the interest rate and annual percentage yield are subject to change.

Money Market Accounts

A money market account is an interest bearing account that is compounded monthly. The minimum balance to open such an account is $2500.00. There can be no more than 6 preauthorized, automatic or telephone transfers to a third person or to another account of the depositor per month. The interest rate and annual percentage yield are subject to change. If the Money Market Account drops below the minimum balance of $2500.00, then the interest rate falls to the savings account interest rate. The rate will be adjusted back to the Money Market Account rate once the balance reaches $2500.00 again.

FDIC
Equal Housing Lender