NOW Account Disclosures
Rate Information
- For current rate and yield information, please see our Deposit Rates.
- At our discretion, we may change the interest rate on your account. We may change the interest rate on your account weekly.
- The interest rate on your account will never change by more than 1.00% each week.
Minimum balance requirements
- To open your account you must deposit $1,500.00.
- A minimum balance fee of $4.00 will be imposed every month if the balance in the account falls below $1,500.00 any day of the month.
- You must maintain a minimum balance of $1,500.00 in the account each day to obtain the disclosed annual percentage yield.
Compounding and Crediting Policies
- Interest will be compounded on a monthly basis.
- Interest will be credited to your account on a monthly basis.
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.
Fees
- The following fees may be assessed against your account:
- Fee for each check you write on this account $0.13.
- Fee per month for not maintaining a $1,500.00 minimum balance everyday of the cycle period $4.00.
- Additional fees which may be assessed against your account are disclosed on the Schedule of Fees.
Call us at (785) 543-5199 or email us to obtain further information.
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