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*Please refer to Truth & Savings Disclosure for additional information regarding tiered rates and limited transaction requirements. |
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| *Please refer to Truth & Savings Disclosure for additional information regarding tiered rates and limited transaction requirements. |
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TYPE OF ACCOUNT
For specific terms and conditions relating
to these accounts, please contact the
New Accounts Representative at your local
branch.
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TERM |
MINIMUM
OPENING DEPOSIT REQUIRED |
MINIMUM
DAILY BALANCE REQUIRED TO AVOID MONTHLY
FEES |
FEE
PER MONTH |
MINIMUM
DAILY BALANCE TO EARN DISCLOSED ANNUAL
PERCENTAGE YIELD (APY) |
INFORMATION
RELATING
TO INTEREST
AND ANNUAL PERCENTAGE
YIELD* |
INDEPENDENCE
PERSONAL
SAVINGS
** A limited
transaction account |
N/A |
$200.00 |
$200.00 |
$5.00 |
$200.00 |
Interest is
compounded
monthly and paid
monthly |
INDEPENDENCE
BUSINESS
SAVINGS
** A limited
transaction account |
N/A |
$1,000.00 |
$1,000.00 |
$10.00 |
$1,000.00 |
Interest is
compounded
monthly and paid
monthly |
TIME
CERTIFICATE
OF DEPOSIT
$2,500.00 or
more, but less than
$100,000.00 |
30
Days
to
5 Years |
$2,500.00 |
None |
None |
$2,500.00 |
Interest is
compounded daily
and paid monthly |
JUMBO
TIME
CERTIFICATE
OF DEPOSIT $100,000.00 or more
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30
Days
to
5 Years |
$100,000.00 |
None |
None |
$100,000.00 |
Interest is
compounded daily
and paid monthly |
"I.R.A."
INDIVIDUAL
RETIREMENT
ACCOUNTS |
6
Months to
5 Years |
$1,000.00 |
None |
None |
$1,000.00 |
Interest is
compounded daily
and paid annually or
at maturity |
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* At our discretion we may change the interest rate on these accounts at any time. Contact your Branch Representative for Rates and Annual Percentage Yield. **Please refer to Truth & Savings Disclosure for additional info regarding limited transaction requirements. |
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Fees on Personal Savings:
A service charge of $5.00 will be imposed every month if the account balance falls below the required minimum any day of the month. An excessive withdrawal fee of $10.00 will be imposed monthly for each withdrawal in excess of six (6) per month.
Fees on Business Savings:
A service charge of $10.00 will be imposed every month if the account balance falls below the required minimum any day of the month. An excessive withdrawal fee of $10.00 will be imposed monthly for each withdrawal in excess of six (6) per month.
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NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category. For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html
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Insured |
Equal Housing Lender |
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Free bank stock checks