|
| |
 |
MMDA - Money Market Demand Account |
| At
a Glance |
Interest bearing account that can be accessed by checks (limits apply). |
| Features |
- Variable interest paid on balances $2,500 and up.
- Interest compounded and paid
monthly.
- Limited to 3 two-party checks per month.
|
| Best
For |
Customers that want access to their savings without having come in personally to make a withdrawal.
|
|
Minimum
Balance |
Minimum Balance of $2,500 to receive MMDA interest rate.Passbook rate on balances of $1,000 - $2,500.No interest on balances that fall below $1,000. |
| Fee |
$5.00 service charge on balances that fall below $1,000 |
|
|
Certificates of Deposit,
90 Day, 6 Month, and 12 Month |
| At
a Glance |
Short term CD’s earn more than Passbook Savings without tying up your money for long terms. |
| Features |
Interest can be compounded or paid by check.
|
| Best
For |
Customers with $500 - $5000 that want to earn more on their money.
|
|
Minimum
Balance |
$500 Minimum Balance |
| Fee |
Penalty for early withdrawal. |
|
|
Certificates of Deposit,
18 month, 24 month and 30 month |
| At
a Glance |
Long term CD’s that earn maximum rates. |
| Features |
Interest can be compounded or paid by check.
|
| Best
For |
Customers that have larger amounts to invest and have the ability to have the money tied up for longer periods of time.
|
|
Minimum
Balance |
$5,000 Minimum Balance |
| Fee |
Penalty for early withdrawal. |
|
|
IRA - Individual Retirement Accounts |
| At
a Glance |
Savings accounts for those who are thinking about their retirement years. |
| Features |
Amount of deposit for tax year could be tax deductible.
|
| Best
For |
Customers who want to start now planning for the financial future.
|
|
Minimum
Balance |
No Minimum Balance |
| Fee |
No service charges. Penalty for premature withdrawal. |
|
