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Savings Accounts & CDs

Find the right account and CD for you

 

Passbook Savings

Passbook Savings only needs $1.00 to open and $10.00 to earn interest.  A minimum balance fee of $2.00 is charged every month if the average daily balance for the month falls below $10.00. The average daily balance is calculated by adding the principal in the account for each day in the period and dividing that figure by the number of days in the period. Effective 01/01/2014. Interest is credited and compounded quarterly. The interest can be found in the rates section.
 

Statement Savings

Statement Savings only needs $1.00 to open and $10.00 to earn interest.  A minimum balance fee of $2.00 is charged every month if the average daily balance for the month falls below $10.00. The average daily balance is calculated by adding the principal in the account for each day in the period and dividing that figure by the number of days in the period. Effective 01/01/2014. Interest is credited and compounded monthly. A monthly statement will be mailed.
 

Money Market Savings

Money Market Savings only needs $1.00 to open and $2500.00 to earn interest.  A minimum balance fee of $2.00 is charged every month if the average daily balance for the month falls below $10.00. The average daily balance is calculated by adding the principal in the account for each day in the period and dividing that figure by the number of days in the period. Effective 01/01/2014.  Interest is credited and compounded monthly.  A monthly statement will be mailed.
 

CDs

Certificates of Deposits are timed saving accounts that will earn various interest rates depending on the length of time in which the funds are held. There are minimum amounts to open the accounts. A penalty will be imposed on early withdrawals. The 7-30 day CD is credited and compounded at maturity, all other CD’s are credited and compounded monthly. Please contact us for current terms and rates.