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Savings

Saving Options

A comparative listing of Savings Account types based on Benefits and Requirements.
 Savings AccountCertificate of DepositIndividual Retirement Account
Account Benefits

The interest will be compounded and paid to your account quarterly.

Higher interest rate than savings or money market.

• Interest rate may be higher than savings or money market.

• Possible income tax benefits.

Account Requirements

No minimum balance to open.

Minimum balance to open - $100 unless otherwise noted.

Subject to Internal Revenue Service guidelines.

Fees and Costs

• Quarterly statement cycle service charge of $1.00 will be imposed if the average daily balance falls below $200 in that cycle.

• A per debit fee of $ .50 will be charged for each debit transaction in excess of nine during a calendar quarter.

A penalty may be imposed for early withdrawal.

• A penalty may be imposed for early withdrawal.

• The Internal Revenue Service may impose a penalty for early withdrawal.

Savings Account
Account Benefits

The interest will be compounded and paid to your account quarterly.

Account Requirements

No minimum balance to open.

Fees and Costs

• Quarterly statement cycle service charge of $1.00 will be imposed if the average daily balance falls below $200 in that cycle.

• A per debit fee of $ .50 will be charged for each debit transaction in excess of nine during a calendar quarter.

Certificate of Deposit
Account Benefits

Higher interest rate than savings or money market.

Account Requirements

Minimum balance to open - $100 unless otherwise noted.

Fees and Costs
A penalty may be imposed for early withdrawal.
Individual Retirement Account
Account Benefits

• Interest rate may be higher than savings or money market.

• Possible income tax benefits.

Account Requirements

Subject to Internal Revenue Service guidelines.

Fees and Costs

• A penalty may be imposed for early withdrawal.

• The Internal Revenue Service may impose a penalty for early withdrawal.

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