To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Effective October 1, 2003.
Passbook Savings
Features
Benefits
$100 minimum opening deposit
$100 minimum balance to obtain Annual Percentage Yield
Transactions can only be made in the branch
You will receive a passbook to document entries instead of a statement
No ATM/Debit cards offered on this account
No service charge if you maintain $200 minimum daily balance. Otherwise, $5 monthly service charge.
Transaction limitations
There is a limit of three withdrawals per month. A charge of $3 per withdrawal applies for withdrawals in excess of three per month.
Earns higher interest than Regular Savings.
Easy to keep up with transactions and balance from passbook.
Savings account for 18 years of age and younger
(whether a student or not) which offers higher rates and limited access to your funds.
$25 minimum opening deposit.
No service charge, regardless of balance.
$25 minimum balance to obtain Annual Percentage Yield.
Transactions can only be made in the branch.
You will receive a passbook to document entries instead of a statement.
No ATM/Debit cards offered on this account.
Transaction limitations
There is a limit of three withdrawals per month. A charge of $3 per withdrawal applies for withdrawals in excess of three per month.
Earns interest.
Helps you save money.
No minimum balance required.
Easy to keep up with transactions and balance from passbook.
Your child will receive a prize each time he/she deposits $25 or more.
No service charge if you maintain $200 minimum daily balance. Otherwise, $5 monthly service charge.
Transaction limitations
Transfers from this account to another account or to third parties by preauthorized, automatic, telephone, or computer transfers are limited to six (6) per statement cycle by check, draft, debit card, or similar order to third parties. There will be a per item charge of $3.00 for each withdrawal in excess of three per month*
Transaction Limitations
Transfers from this account to another account or to
third parties by preauthorized, automatic, telephone, or
computer transfers are limited to six (6) per statement
cycle by check, draft, debit card, or similar order to
third parties.
Ideal, if you have a High Deductible Health Plan and need to withdraw funds for qualified medical expenses for yourself, your spouse or a dependent. What you don't spend on health care expenses, you can save for retirement.
