Money Market Accounts
Provides easy access to funds while earning a money market variable rate of interest. Minimum balance to earn interest is $1,000.00.
- Balance Information: We use the average daily balance method to calculate 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.
- Limitations: You must deposit $100.00 to open this account. You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Six (6) of these transfers may be made by check, draft, debit card or similar order (including P0S transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
- Account Fees: Minimum daily balance of $1,000.00 is required to avoid a $5.00 service charge per statement cycle. Transactions exceeding these limitations (6) transfers will be assessed a service charge of $5.00 per transaction.