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