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Product Information
Personal Net Image Interest Checking
Personal Basic Money Market
Personal High Performance Money
Market Checking
Personal Net Image Savings
Personal High Performance Money
Market Savings
Personal Net Certificate of Deposit
Personal Net Image Interest Checking
Rate information
Your interest rate and annual percentage yield may change.
Frequency of rate changes
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency
Interest will be compounded every month. Interest will be credited to your account
every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the
accrued interest.
Minimum balance to open the account
You must deposit $1,500.00 to open this account.
Minimum balance to avoid imposition of fees
A service charge fee of $10.00 will be imposed every statement cycle if the balance
in the account falls below $1,500.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed
You must maintain a minimum balance of $1,500.00 in the account each day to obtain
the disclosed annual percentage yield.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This
method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
Interest begins to accrue no later than the business day we receive credit for the
deposit of noncash items (for example, checks).
Personal Basic Money Market
Rate Information
The interest rate and annual percentage yield on your account may change.
Frequency of rate changes
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account. The interest
rate for your account will be paid on appropriate tier level provided the minimum
tier balance is maintained. The initial interest rate on your account depends upon
the applicable rate tier. See balance tier levels.
Compounding and crediting frequency
Interest will be compounded every month. Interest will be credited to your account
every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the
accrued interest.
Minimum balance to open the account
You must deposit $2,500.00 to open this account.
Minimum balance to avoid imposition of fees
A service charge fee of $15.00 will be imposed every monthly statement cycle if
the balance in the account falls below $2,500.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed
You must maintain a minimum balance of $2,500.00 in the account each day in order
to obtain the disclosed annual percentage yield.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This
method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
Interest begins to accrue no later than the business day we receive credit for the
deposit of noncash items (for example, checks).
Transaction limitations/Fees
Transfers from this account to another account or to third parties by preauthorized,
automatic, telephone or computer transfer (including bill payments) are limited
to six per month. An excess transfer fee of $15.00 per item
applies if these limits are exceeded. If you exceed the above limitations your account
may be transferred to a transaction account.
Additional fees may apply for other bank service, such as stop payments and wire
transfers. Please refer to the Schedule of Fees and Charges for additional fee information.
Personal High Performance Money
Market Checking
Rate Information
The interest rate and annual percentage yield on your account may change.
Frequency of rate changes
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account. The interest
rate for your account will be paid on appropriate tier level provided the minimum
tier balance is maintained. The initial interest rate on your account depends upon
the applicable rate tier. See balance tier levels.
Compounding and crediting frequency
Interest will be compounded every month. Interest will be credited to your account
every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the
accrued interest.
Minimum balance to open the account
You must deposit $10,000.00 to open this account.
Minimum balance to avoid imposition of fees
A service charge fee of $25.00 will be imposed every monthly statement cycle if
the balance in the account falls below $10,000.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed
You must maintain a minimum average daily balance of $10,000.00 to obtain the disclosed
annual percentage yield. 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.
Daily balance computation method
We use the average daily balance method to calculate interest on your account. This
method applies a periodic rate to the average daily balance in the account for the
period. 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.
Accrual of interest on noncash deposits
Interest begins to accrue no later than the business day we receive credit for the
deposit of noncash items (for example, checks).
Transaction limitations/Fees
Transfers from this account to another account or to third parties by preauthorized,
automatic, telephone or computer transfer (including bill payments) are limited
to six per month with no more than three by check, draft, point-of-sale (POS), debit
card or similar order to third parties. An excess transfer fee of $25.00 per item
applies if these limits are exceeded. If you exceed the above limitations your account
may be transferred to a transaction account.
Additional fees may apply for other bank service, such as stop payments and wire
transfers. Please refer to the Schedule of Fees and Charges for additional fee information.
Personal Net Image Savings
Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate changes
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency
Interest will be compounded every month. Interest will be credited to your account
every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the
accrued interest.
Minimum balance to open the account
You must deposit $250.00 to open this account.
Minimum balance to avoid imposition of fees
A service charge fee of $5.00 will be imposed every statement cycle if the balance
in the account falls below $250.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed
You must maintain a minimum balance of $250.00 in the account each day to obtain
the disclosed annual percentage yield.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This
method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
Interest begins to accrue no later than the business day we receive credit for the
deposit of noncash items (for example, checks).
Transaction limitations
Transfers from a Personal Net Image Savings account to another account or to third
parties by preauthorized, automatic, computer, or telephone transfer are limited
to six per month with no transfers by check, draft, debit card, or similar order
to third parties.
If you exceed the above limitations your account may be transferred to a transaction
account where funds no longer earn interest.
Fees
An excess transfer fee of $15.00 will be charged for each debit transaction in excess
of six per monthly statement cycle.
Personal High Performance Money
Market Savings
Rate Information
The interest rate and annual percentage yield on your account may change.
Frequency of rate changes
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account. The interest
rate for your account will be paid on appropriate tier level provided the minimum
tier balance is maintained. The initial interest rate on your account depends upon
the applicable rate tier. See balance tier levels.
Compounding and crediting frequency
Interest will be compounded every month. Interest will be credited to your account
every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the
accrued interest.
Minimum balance to open the account
You must deposit $25,000.00 to open this account.
Minimum balance to avoid imposition of fees
A service charge fee of $25.00 will be imposed every monthly statement cycle if
the balance in the account falls below $25,000.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed
You must maintain a minimum average daily balance of $25,000.00 to obtain the disclosed
annual percentage yield. 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.
Daily balance computation method
We use the average daily balance method to calculate interest on your account. This
method applies a periodic rate to the average daily balance in the account for the
period. 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.
Accrual of interest on noncash deposits
Interest begins to accrue no later than the business day we receive credit for the
deposit of noncash items (for example, checks).
Transaction limitations/Fees
You are limited to six withdrawals and/or transfers from this account by preauthorized,
telephone or computer transfer (including bill payments) per monthly statement cycle.
An excess transfer fee of $25.00 per item applies if these limits are exceeded.
If you exceed the above limitations your account may be transferred to a transaction
account.
Additional fees may apply for other bank service, such as stop payments and wire
transfers. Please refer to the Schedule of Fees and Charges for additional fee information.
Personal Net Certificate of Deposit
Your complete Account Disclosures will be mailed to you, along with a copy of your
Certificate.
Rate Information
Your interest rate is fixed for the term. Interest will be paid until the maturity
date of the certificate. The interest rate is based on the rate in effect at the
time we receive the deposit. The disclosed annual percentage yield assumes interest
will remain on deposit until maturity. A withdrawal will reduce earnings.
Crediting frequency
Interest will be compounded daily. Interest will be credited to your account at
maturity or paid according to the interest payment option you selected at time of
account opening.
Minimum balance to open the account
You must deposit $10,000.00 to open a non-IRA account. An IRA Certificate of Deposit
requires a minimum opening deposit of $7,500.00.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This
method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits
Interest begins to accrue on the business day you deposit noncash items (for example,
checks).
Transaction limitations
You may not make deposits into your account before maturity if your account has
a term of less than six months.
You may make three deposits into your account before maturity if your account has
a term of six months or longer.
You may not make withdrawals of principal from your account before maturity.
In general, you cannot withdraw interest from your account before maturity. Interest
can be withdrawn as often as monthly only if that distribution option is arranged
at account opening.
Time requirements
Your account will mature on the maturity date of the certificate.
Effect of closing an account
If you close your account before interest is credited, you will not receive the
accrued interest.
Early withdrawal penalties
(see additional disclosure for IRA Certificates of Deposit)
(a penalty may be imposed for withdrawals before maturity)
If your account has an original maturity of 90 days or less:
The fee we may impose will equal 30 days' interest on the amount withdrawn subject
to penalty.
If your account has an original maturity of 91 days through one year:
The fee we may impose will equal 90 days' interest on the amount withdrawn subject
to penalty.
If your account has an original maturity of more than one year:
The fee we may impose will equal 180 days' interest on the amount withdrawn subject
to penalty.
In certain circumstances such as the death or incompetence of an owner of this account,
the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
The Bank may require, at its option, a certified copy of a court or administrative
order in cases of incompetency for the waiver of an early withdrawal penalty. To
waive the early withdrawal penalty due to disability, the Bank may, at its option,
require a physician’s statement. See your plan disclosure if this account is part
of an IRA or other tax qualified plan.
Withdrawals made prior to age 59 ½
These withdrawals may be subject to an IRS pre-mature distribution penalty and possible
state taxes. Additionally, Bank early withdrawal penalties may apply.
Withdrawals made from age 59 ½ to 70 ½ years of age
Withdrawals are not subject to IRS pre-mature distribution penalty. These withdrawals
are subject to ordinary income taxes and are reportable on form 1099R to the IRS.
The Bank will allow one distribution per year with no penalty; all other distributions
are subject to early withdrawal penalties.
Withdrawals made upon obtaining 70 ½ years of age
The IRS requires IRA owners to take minimum distributions each year starting with
the year they turn age 70 ½ and are not subject to IRS pre-mature distribution penalties.
These withdrawals are subject to ordinary income taxes and are reportable on form
1099R to the IRS. The Bank will waive the early withdrawal penalty on these distributions
and will report such distributions on form 1099 to the IRS.
Fees
For all IRAs opened prior to 12/31/2005, an annual custodial fee of $15.00 will
be assessed if you keep a balance of less than $10,000.00 in your plan. Effective
1/1/2006, an annual custodial fee of $30.00 will be assessed if you keep a balance
of less than $25,000.00 in your plan. A $50.00 custodial account transfer fee will
be charged for all IRAs that transfer to another financial institution or close
prior to maturity to cover custodial recordkeeping costs.
Automatically renewable time account
This account will automatically renew at maturity. You may prevent renewal if we
receive written notice from you before maturity of your intention not to renew or
you withdraw the funds in the account at maturity (or within the grace period mentioned
below, if any). We can prevent renewal if we mail notice to you at least 30 calendar
days before maturity.
Each renewal term will be the same as the original term, beginning on the maturity
date. The interest rate will be the same we offer on new time deposits on the maturity
date which have the same term, minimum balance (if any) and other features as the
original time deposit.
You will have ten calendar days after maturity to withdraw the funds without a penalty.
We may require not less than 7 days' notice in writing before each withdrawal from
an interest-bearing account other than a time deposit, or from any other savings
account as defined by Regulation D. Withdrawals from a time account prior to maturity
or prior to any notice period may be restricted and may be subject to penalty. See
your notice of penalty for early withdrawal.
All new accounts will be processed through ChexSystems. All accounts closed for
cause will be reported to ChexSystems or similar reporting company.
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