Savings

Benefit Money Market Regular Savings Silver Savings Rainbow Savings Christmas Savings
Description Best for higher balances due to tiered interest Basic savings with low fees and quarterly interest Offers a special rate for balances of $500+ Small opening deposit but has a a $25 hold Funds available via check in early October
Minimum Deposit $1,500 $100 $500 $25 $25
Monthly Service Fees $0 with balance of at least $1500
$7 with balance below $1500		 $0 with balance of at least $100
$5 with balance below $100		 $3 with balance below $500
$5 with balance below $100		 $3 maintenance fee N/A
Interest Earnings Tiered rates for balances of $500+ Paid on all minimum deposit balances Special rate paid on balances at least $500, regular rate for lower balances Paid if daily balance is $100 or more each day during statement cycle Special stated rate
Interest Compounded Monthly Quarterly Quarterly Quarterly Annually
Withdrawals Allowed Up to 6 every 3 months Up to 6 every 3 months No limit on deposits
Excessive Transaction Fees $5 per Excessive Transaction $5 per Excessive Transaction + $.50 per debit item > 6 in statement cycle $5 per Excessive Transaction $5 per Excessive Transaction + $.50 per debit item > 6 in statement cycle N/A
Monthly Statements Detailed monthly statement Detailed quarterly statement Detailed quarterly statement Detailed quarterly statement

RULES REGARDING NUMBER OF TRANSACTIONS

The following information applies to all savings and money market accounts.

Unlimited Transactions

The following transactions may be completed—free of charge—an unlimited number of times per month/statement cycle (of up to four weeks):

  • automatic or preauthorized transfers or withdrawals for the purpose of repaying loans held at the same institution
  • transfers or withdrawals made by mail, messenger, automated teller machine, or in person to another account of the same depositor at the same institution
  • withdrawals initiated by telephone provided the funds are distributed by way of a check mailed to the depositor

Limited Transactions

The following transactions are limited to six (6) per month or statement cycle without incurring fees. Though you may complete transactions in excess of the limit, there is a cost of $5.00 for each additional transfer or withdrawal on this list:

  • transfers or withdrawals by way of check, draft, debit card, or similar order made payable to a third party
  • transfers or withdrawals to another account of the same depositor at the same institution or a third party, if made by way of a preauthorized transfer, automatic transfer, by telephone, including fax, or with the institution's home or internet banking service