My First Million Information


Rate Information:

This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart.  The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded quarterly and will be credited to the account quarterly. If the account is closed before interest is credited you will not receive the accrued interest.

Balance Information:

We use the daily collected balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.

Limitations:

You must deposit $5 to open this account, and automatic debit or ATM activity is not permitted on this account. To avoid a fee, withdrawals are limited to 3 per month. Federal law limits activity on Savings Accounts. You may make six (6) transfers from your account each four (4) week or similar period by preauthorized or automatic transfer, telephone (including data transmission) agreement, order or instruction or by check, draft, debit card or similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or an ATM are unlimited. View the Deposit Account Agreement.

Account Fees:

$1 fee for each withdrawal in excess of 3 per month.  Statements are sent quarterly.