|
REGULAR BUSINESS CHECKING
This account serves any business that wants unlimited check writing and no
minimum balance requirements. It takes only a $500 initial deposit to open,
and you receive imaged copies of your checks in your monthly statement.
Service charges are determined by analysis.*
|
Minimum
balance to open account
|
$500.00
|
|
Monthly
service charge
|
Determined
by analysis*
|
SMALL BUSINESS CHECKING
This account is for businesses with less than 150 total debits, credits,
and items deposited per statement cycle. There is a $250 minimum initial
deposit, and, imaged copies of your checks are returned in your monthly
statement.
|
Minimum
balance to open account
|
$250.00
|
|
Monthly
maintenance fee
|
$6.00
|
BUSINESS INTEREST CHECKING
This account is for Sole Proprietors, Non-profit and Government
organizations ONLY. There is a $500 minimum initial deposit and there is
unlimited check writing. The interest rate is tiered and based on the
average available balance. Imaged copies of your checks are returned in
your monthly statement. Service charges are determined by analysis.*
|
Minimum
balance to open account
|
$500.00
|
|
Minimum
balance to earn interest
|
$500.00
|
|
Service
charge
|
Determined
by analysis*
|
CIVIC CHECKING
This account is designed to help non-profit organizations, such as
churches, schools, and civic clubs, get the most use of their money. There
is no minimum balance to maintain and no service charges.
INTEREST RATE TIERS
(for all interest bearing accounts)
|
Tier
1
|
Up
to $4,999.00
|
|
Tier
2
|
$5,000.00
- $19,999.00
|
|
Tier
3
|
$20,000.00
and Up
|
*ANALYSIS ACTIVITY CHARGES
Your account activity and balance determine applicable service charges on
your business checking account. A fee is charged only when expenses from
services provided are more than the earnings allowance from your account
balances. Below is an explanation of how your earnings allowance is
calculated.
- Average available
balance less 10% Federal Reserve Requirement equals the average
available balance used to calculate your earnings allowance.
- Earnings credit
equals the average for the 90-day Treasury Bill rate.
- Earnings allowance
is divided by 365 days and multiplied by number of days in month.
Result is account's earnings allowance for that month.
- Activity charges are
calculated monthly based on activity in your account during the month.
See below for activity charges.
- If activity charges
exceed the earnings allowance, the difference is debited from your
account.
- If the earnings
allowance exceeds the activity charges, you account will not be
charged a service charge for the month.
Activity
Charges:
|
Monthly
maintenance
|
$6.00
|
|
Per
item debit charge
|
$0.17
|
|
Transit
items deposited
|
$0.06
|
|
Charge
for negative avail. balance
|
Wall
Street Prime +2.0%
|
|
