Money Market Plus Account
The Money Market Plus Account is designed to earn a higher rate of interest and still be able to write a minimal amount of checks.
Interest rate may vary each week in relation to money market interest rates. Interest rates may change each Wednesday.
◊ Initial deposit required to open account - $2,500.00
- Interest bearing checking account
- Direct Deposit
- Monthly Bank Statement
- Free online banking
- A service charge fee of $5.00 will be imposed every statement cycle if thebalance in the account falls below $2,500 any day of the cycle.
- Transfers from a Money Market Plus account to another account or to third parties by preauthorized, automatic, telephone or computer transfer or by check, draft or similar order to third parties are limited to six per statement cycle.
- A per item fee of $1.00 will be charged for each check in excess of six during a statement cycle.
* Fees may reduce your earnings.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.