products & services
Basic Checking Account
The bank will not pay interest on the basic checking account and no service charge will be imposed if the average daily balance is greater than $300 per statement cycle. A fee of $5.00 will be charged each cycle that the average daily balance is below $300. This service charge is waived for students(K-12) or customers 60 years or older. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Founders Club Checking Account
There is no minimum balance requirement for this account and standard personal checks are included in the package along with an accidental death and dismemberment insurance policy, free money orders and overdraft protection. A monthly fee of $6.00 ($5.00 for 60 years and older) is required.
Premium Checking Account
A minimum $500 balance is required to open this account that will accrue interest daily on the current balance. The interest rate and annual percentage yield may change and is at the discretion of the bank. Interest begins to accrue on the day of deposit and the daily balance method is used to calculate the interest on your account. A service charge of $5.00 will he imposed each statement cycle if the balance falls below $500.00 any day during the cycle. Federal regulation prohibits paying interest on checking accounts held by certain corporations, businesses or partnerships.
Founders Premium Account
A minimum $500 balance is required to open this account that will accrue interest daily on the current balance. The interest rate and annual percentage yield may change and is at the discretion of the bank. Like the Founders Club above, this account features standard personal checks, accidental death and dismemberment insurance, free money orders and automatic transfer to cover overdrafts all for $6 per month ($5 for 60 years and older) Federal regulation prohibits paying interest on checking accounts held by certain corporations, businesses or partnerships.
Investors Fund Account
A minimum $1000 balance is required to open this account that will accrue interest daily on the current balance. The interest rate and annual percentage yield may change and is at the discretion of the bank. A service charge of $5 will be inposed each statement cycle if the balance fall's below the minimum. Only three checks will be drawn on this account each month that are to a third party. This is a Money Market Account and subject to regulation as such.
Investors Gold Account
This account is similar to the Investor Fund Account above but requires a Minimum of $10,000 to qualify for the stated rate. A $10 fee is imposed each statement cycle that the balance falls below the minimum on any day during the cycle. Only three checks are permitted to third parties each month. This is a Money Market Account and subject to regulation as such.
Health Savings Accounts
A Health Savings Account is designed to help you cover medical expenses or the deductible portion of any health insurance claim. It works like a checking account with the added benefit that each deposit is tax deductible. The funds can then be used for any medical expense to include medicine, doctor’s visits or other health related expenses. There are specific eligibility requirements, so please check with your tax professional before you establish the account.
Savings Account
This is a basic savings account with a minimum balance of just $50 and this minimum is waived for students and seniors. The interest rate is variable and at the discretion of the bank with interest accrued daily and paid quarterly. A $4.50 fee will be imposed each statement cycle that the balance falls below $50.00.
Certificates of Deposit
Certificates of Deposit are offered in various maturities to satisfy the needs of the investor. It is best to ask your personal banker for details.