Disclosure of Terms - eSavings

Disclosure of Terms - eSavings


[June 24, 2024]

Rate Information

The interest rate on your account is 4.21% with an annual percentage yield (APY) of 4.30% when the following conditions are met:

1.     The account is enrolled in eStatements and

2.     The average daily balance in the account is $10,000.00 or more.


If one or both of these conditions is not met, the interest rate on your account will be 0.050% with an APY of 0.05%. Your interest rate and APY may change. At our discretion, we may change the interest rate on your account daily.


Interest will be compounded daily and will be credited to the account on the last day of each calendar quarter.


Minimum Balance Requirements

To open an eSavings account, you must deposit $100.00 or more. The minimum balance required to earn interest is $0.01. A minimum balance fee will be imposed at the end of each calendar month if the average daily balance falls below $10,000.00. 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.


$10 monthly fee if the average daily balance is less than $10,000.00.


No fee for first three withdrawals in a month; $2 for each withdrawal after first three free withdrawals in a month.


Please refer to the separate service charge schedule(s) for all other fees that may be charged on this account.


Transaction Limitations

After the deposit account is opened, you may make deposits into or withdrawals from the deposit account in person or by mail at any time in amounts of $10.00 or more. Higher withdrawal amounts may be required at ATM locations. Electronic debits processed through the ACH are permissible, but paper drafts (checks) will not be honored.  You may make three withdrawals per month with no fee.  After three free withdrawals per month, a fee will be assessed for each withdrawal.  We reserve the right, in our sole discretion, to require seven (7) days’ advance notice of any withdrawal.


All other disclosure information is included in the Disclosure and Agreement for Savings and Transaction Accounts, into which this Disclosure of Terms is incorporated by reference.