NOW Account
Rate Information: Your interest rate and annual
percentage yield may change.
Frequency of rate changes and Determination of Rate: We may (at our discretion) change the interest rate on your account at any time.
Compounding and crediting frequency: Interest will be compounded and credited to your account each month.
Minimum balance to open the account: You must
deposit $1500.00 to open this account.
Minimum balance to obtain the annual percentage yield: You must maintain a minimum balance of $1,500 in the account each day to obtain the disclosed annual percentage yield. You must maintain a minimum daily balance of $1,500 to obtain the NOW interest rate. If your minimum daily balance falls below $1,500, interest will not be paid.
Minimum balance to avoid imposition of fees: If your balance is at least $1,000 on every day in the monthly statement cycle but falls below $1,500 on any day during the monthly statement cycle we will impose a service charge fee of $8.00 once during the statement cycle.
If your balance is at least $500 on every day in the monthly statement cycle but falls below $1,000 on any day during the monthly statement cycle we will impose a service charge fee of $9.00 once during the statement cycle
If your balance falls below $500 on any day in the monthly statement cycle we will impose a service charge fee of $10.00 once during the statement cycle.
Fees: If you are a member of our Hometown Checking, a fee of $6.00 (Individual Plan) or $8.50 (Family Plan) will be charged on each monthly statement cycle in lieu of the service charge based on the minimum balance. Additional benefits are provided with this account with a separate disclosure.
Daily 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 non-cash deposits: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
