Statement Savings Account
A statement savings account is a variable rate, interest bearing account from which available funds on deposit can be withdrawn by presenting a properly completed withdrawal request form to one of our tellers. Statement savings accounts are subject to transfer limitations disclosed below.
Details:
- A Statement Savings account may be opened with a deposit of $100 or more.
- The Minimum Balance to obtain the annual percentage yield is $100.00.
- No interest is earned when the account balance falls below $100.00.
- Our Statement Savings is a variable rate account which means that the interest rate and the annual percentage yield may change at any time at our discretion.
- Effective dated transactions and service fees may reduce your annual percentage yield.
- We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal balance in the account each day.
- The number of preauthorized transfers or withdrawals are limited to six (6) per statement cycle.
Please refer to our current Terms and Conditions of your Deposit Accounts booklet and our current Schedule of Fees regarding these accounts.
Savings Account Comparison
| Account Details | Statement |
|---|---|
| Minimum Opening Balance | $100 |
| Minimum Balance to Earn APY | $100 |
| Variable Rate |  The daily balance method is used to calculate the interest on your account. |
| Below Minimum Balance Fee | $5.00/mo. |
| Preauthorized Transfers Allowed | No more than six (6) pre-authorized transfers per statement cycle. |
