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Statement Savings

Recommended if:

  • Have $100 or more to invest, or cannot commit your funds for a specific amount of time
  • Want to separate your excess funds from those you keep in your checking account for day-to-day business expenses
  • Are saving for a large business purchase
  • Want to earn interest and don't need check access

Benefits:

  • Offers maximum liquidity
  • Unlimited use of Telebank or Online Banking, which makes it easy to transfer funds to checking account for check access

Important Facts:

View current interest rates

  • Minimum to open: $100
  • Can make up to two withdrawals per statement cycle before fee is incurred
  • Can make 6 transfers by preauthorized or automatic transfers to third parties
  • Monthly statements
  • Interest compounded and is paid quarterly

Fees:

  • Monthly maintenance fee: $3, if average daily collected balance falls below $200
  • Withdrawal fee: $2 each after two per statement cycle
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