STATEMENT SAVINGS ACCOUNT
MINOR SAVINGS ACCOUNT
HIGH YIELD SAVINGS ACCOUNT
STATEMENT SAVINGS ACCOUNT
A minimum deposit of $200 is required to open this account. There are no limitations on the number of deposits that may be made in connection with this account. You are however limited during each month to having no more than six preauthorized withdrawals and withdrawals by check are not permitted. In that the Statement Savings account is an interest bearing account, the following applies:
Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (e.g., checks). Interest will be compounded daily and credited monthly.
Interest is determined by the daily balance method.
This method applies a daily periodic rate to the
principal in the account each day.
If the account is closed before interest is credited, accrued interest will not be paid. Interest will be earned for every day that the account balance equals or exceeds $50. The interest rate paid on this account is established by Kirkpatrick Bank and may change daily. Any change to the interest rate is at our discretion.
In assessing periodic fees, the account balance is determined using the daily
balance method. To avoid periodic fees, a daily account balance of at least
$100 must be maintained during each month. If the daily balance falls below
$100 a $2.00 monthly maintenance fee will be assessed. An excessive withdrawal
fee of $1.00 per withdrawal will also be assessed for accounts exceeding two
withdrawals per month.
Complete account
disclosures, with current annual percentage yield
information, are available upon request.
