Disclosure
CLUB CHECKING -- CLUB GOLD CHECKING

VARIABLE RATE ACCOUNT: Your interest rate and annual percentage yield may change.

DETERMINATION OF RATE: At our discretion, we may change the interest rate on your account.

FREQUENCY OF RATE CHANGES: We may change the interest rate on your account at any time.

TIERING LEVELS AND THEIR APPLICABLE RATES: The interest rate to be paid on your account will depend on the daily balance in your account. See the last panel of this brochure to determine what interest rate will be paid depending on the daily balance in your account. The separate 'tiers' that have varying interest rates that apply are:

  • If the daily balance in your account is less than $300.00, no interest will be paid on the entire balance in your account.
  • If the daily balance in your account is $300.00 or more but less than $5,000.00, the entire balance in your account will earn the appropriate interest rate.
  • If the daily balance in your account is $5,000.00 or more, the entire balance in your account will earn the appropriate interest rate.

COMPOUNDING AND CREDITING: Interest will be compounded on a daily basis and credited to your account monthly.

MINIMUM BALANCE REQUIREMENTS:

  • TO OPEN THE ACCOUNT: You must deposit $50.00 to open the account.
  • TO AVOID THE IMPOSITION OF FEES: Dues of $5.50 for CLUB CHECKING will be assessed each month. The dues are listed as club dues on the periodic statement. Club dues are waived if a minimum daily balance of $2,500.00 is maintained during the monthly statement cycle. Additional dues of $3.50 will be assessed each month on CLUB GOLD checking. These dues are listed as gold dues on the periodic statement.
OTHER FEES:
  • LOW BALANCE/INACTIVE FEE: A $2.25 monthly fee is assessed after two years inactivity and balance is less than $200.00. This fee is listed as "low bal fee" on the periodic statement.
  • EARLY CLOSING FEE: A $20.00 fee is assessed on accounts open for less than six months.
TO OBTAIN THE ANNUAL PERCENTAGE YIELD DISCLOSED: You must maintain a minimum balance of $300.00 in the account each day to obtain the disclosed annual percentage yield.

BALANCE COMPUTATION METHOD: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS: Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).