Commercial Money Market Account Disclosures

Rate information- At our discretion, we may change the interest rates for this account. Tier 1 - If your daily balance is $10,000.00 or more, the interest rate paid on the entire balance in your account will be 0.50% with and annual percentage yield (APY) of 0.50%. Tier 2 - If your daily balance is $2,500.00 or more, but less than or equal to $9,999.00, the interest paid on the entire balance in your account will be 0.20% with annual percentage yield of 0.20%.

The interest rates may change daily.

Compounding frequency - Interest will be compounded monthly.

Crediting frequency – Interest will be credited into this account monthly.

Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits- Interest will begin to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks) into your account.
Minimum balance to open – The minimum balance required to open this account is account is $2,500.00.
Minimum balance to earn interest – You must maintain a minimum daily balance of $2,500.00 in your account each day to earn the disclosed interest rate.

Deposit limitations – You may make an unlimited number of deposits into your account.

Additional Terms - The following additional terms apply to this account: Minimum balance to avoid imposition of fees – An account maintenance fee of $15.00 will be imposed every statement cycle, if the monthly average balance in the account falls below $2,500.  Fees could reduce earnings.

Transaction Limitations- Transfers from Money Market Investment Account to another account or to third parties by pre-authorized or automatic transfer are limited to six per statement cycle.  If you exceed the transfer or withdrawal limitations set forth above in any statement period, you account will be subject to a $15.00 per withdrawal fee.