CHECKING ACCOUNTS - NOW Checking Accounts
 

This is an interest bearing checking account for those who are willing to keep a minimum balance of $1,000.00 in order to obtain interest.
 
Minimum balance to open the account: $1,000.00
Minimum balance to avoid imposition of fees: $1000.00 A service charge fee of $9.00 will be imposed each monthly statement cycle if the average daily balance* for the monthly statement cycle falls below $1,000.00.
Rate Information: Your interest rate and annual percentage yield may change.
Frequency of rate changes: We may change the interest rate on your account at any time.
Compounding and crediting frequency: Interest will be compounded every day, Interest will be credited to your account every month.
Minimum balance to obtain the annual percentage yield disclosed: You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield. If the account balance falls below the minimum balance of $1,000.00, interest will not be accrued on those days that the balance is below the minimum of $1,000.00.
Daily 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 non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Fees: A service charge fee of $9.00 will be imposed each statement cycle. ***An excess activity fee $.20 will be charged for each withdrawal in excess of 15 during a statement cycle. This fee will not apply if customer maintains an average daily balance of $1,000.00. All Doing Business As (D.B.A.) Accounts will be considered business accounts and will be assessed a service charge of $25.00 per statement cycle. ***
Per check charge: $.20 per check after the 15th check if the average daily balance falls below $1,000.00.
Visa check card/ATM: yes
Free checks: no


* 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.
*** An exit charge fee of $20.00 will be charged if the account is closed within six months from date of opening.

COMMON FEATURES

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