MONEY MARKET INVESTMENT ACCOUNT
Requirements:
- A minimum balance of $2,500.00 is
required to open a Money Market.
Benefits:
- Money Market Accounts are
interest-bearing accounts with variable rates which are subject to
change without prior notice. Interest is calculated using the daily
balance method and is credited to the account monthly on the statement
date.
Transaction Limitations:
- The number and type of transfers that
can be made from Money Market accounts is strictly regulated.
- Pre-authorized transfers are limited
to six per statement cycle, no more than three of which may be by check,
draft, debit card, or similar order made to third parties. These types
of transfers include telephone transfers, ACH debits, or any
pre-authorized agreement. Unlimited transfers are permitted for
in-person transactions.
Cost:
- A service charge of $15.00 per
statement cycle will be assessed if the minimum
balance falls below the $2,500.00 minimum on any day during the
statement cycle.
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