Passbook Savings Account

Account Description

Interest Bearing Savings

Requirements

• Minimum balance to open: $50.00
• Any account with a balance of $0 is considered closed

Benefits

• Interest is calculated on the daily balance and will be compounded and credited to your account every quarter (March, June, September, December).
• Quarterly statement provided.
• All fees waived if you are age 65 and over or have Direct Deposit Social Security

Cost

• There will be a $1.00 charge for each debit transaction over 12 during a quarter
• Balance falls below $50.00 - $5.00 charge applied
• Dormancy fee of $5.00 per quarter applied to accounts we no longer have contact with owner
• Early closing fee of $20.00 applied to account closed within 90 days of opening