Passbook Savings Account

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Description:

• An interest bearing account with limited withdrawals allowed but no penalty for early withdrawal.

Requirements:

• You must deposit $100.00 to open this account.

Benefits:

• Your interest will be compounded and credited quarterly on this account.

• We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

• A $20.00 minimum deposit for minors applies with no minimum balance requirement to avoid service charge.

Cost:

• A minimum balance of $100.00 is required to avoid monthly maintenance fee.  A monthly maintenance fee of $1.00 will be charged if minimum daily balance falls below $100.00.

• You may make three(3) transfers from this account by debit draft, debit card or similar order (including POS transactions) payable to third parties each month. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.