Disclosure
PRIME TIMERS' CLUB 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. 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 PRIME TIMERS' 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 $300.00 is maintained during the monthly statement cycle.
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).