Direct Interest Checking Disclosure

Online account acknowledgement – Accounts opened online are checkless accounts and require e-statements. Debit cards should be used to make purchases. Online and Mobile Banking should be used to pay bills and transfer funds.

Rate Information – Your interest rate and annual percentage yield may change. The interest rate for your account is ____% with an annual percentage yield of ____%.

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 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.

Account requirement – At least one monthly direct deposit or automatic payment (ACH).

Minimum balance to open account – You must deposit $50.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed – No minimum balance required.

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 non-cash deposits – Interest begins to accrue no later than the business day when we receive credit for the funds for noncash items (for example, checks).

 Rev 6/2022