# Savings Accounts

### Passbook Savings

This account only needs $1 to open and $10 to earn interest. A minimum balance fee of $2.00 will be imposed 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

This account only needs $1 to open and $10 to earn interest. A minimum balance fee of $2.00 will be imposed 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. The interest can be found in the rates section. A monthly statement will be sent out.

### Money Market Savings

This account only needs $1 to open and $2500.00 to earn interest. A minimum balance fee of $2.00 will be imposed 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. The interest can be found in the rates section. A monthly statement will be sent out.

### Club Savings (Christmas Club)

This account only needs $1 to open and $10 to earn interest. A minimum balance fee of $2.00 will be imposed 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 paid at maturity. The interest can be found in the rates section.