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Checking and Savings Products

REGULAR CHECKING ACCOUNT

Minimum balance to open the account - You must deposit $100.00 to open this account.

Minimum balance to avoid monthly maintenance fee -

  • $750.00 average collected daily balance (The average collected 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.), or
  • Account owner is 55 years or older *, or
  • Account owner receives an electronic direct deposit at least monthly *

* You must notify us of your eligibility.

Monthly maintenance fee imposed if minimum is not met -

  • $7.00 per statement cycle and $ 0.30 per debit

ECONOMY CHECKING ACCOUNT

Minimum balance to open the account - You must deposit $100.00 to open this account.

Minimum balance to avoid monthly maintenance fee - Requires no minimum balance and allows up to eight (8) debits per statement cycle at no charge.

Monthly maintenance fee imposed -

  • $ 0.75 per debit over eight (8) debits per statement cycle

Transaction limitations:
You may make an unlimited number of deposits without incurring any additional charge.

Additional features:
A debit shall be deemed to be made when it is recorded on our books, which is not necessarily the date you initiated the transaction.

NOW CHECKING ACCOUNT

Rate information - Your interest rate and annual percentage yield may change. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $100.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $1,500.00 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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee -

  • $1,500.00 average collected daily balance

Monthly maintenance fee imposed if minimum is not met -

  • $7.00 per statement cycle and $0.30 per debit

PREMIUM NOW CHECKING ACCOUNT

Rate information - Your interest rate and annual percentage yield may change. This product is a tiered account. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $25,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $25,000.00 to obtain the disclosed annual percentage yield. Higher balances may earn higher interest rates and annual percentage yields as set forth in our Summary of Interest Rates/Products table.

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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee -

  • $25,000.00 average collected daily balance

Monthly maintenance fee imposed if minimum is not met -

  • $15.00 per statement cycle

MONEY MARKET ACCOUNT

Rate information - Your interest rate and annual percentage yield may change. This product is a tiered account. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $2,500.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $2,500.00 to obtain the disclosed annual percentage yield. Higher balances may earn higher interest rates and annual percentage yields as set forth in our Summary of Interest Rates / Products table.

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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee -

  • $2,500.00 average collected daily balance

Monthly maintenance fee imposed if minimum is not met -

  • $10.00 per statement cycle

Transaction Limitations:
Federal law limits the type of transactions on this account. You can make no more than six preauthorized, automatic, telephone or electronic withdrawals or transfers to another account at the same bank or to a third party during a month. This limitation includes those made by check, draft, debit card or similar order and payable to third parties. Electronic transfers, withdrawals, or payments to third parties initiated by you from a personal computer (online banking) are also included as a type of transfer subject to the six transaction limit. If you exceed the six-transaction limitation, an excess transaction charge of $10.00 per item will be assessed. However, withdrawals can be unlimited if you make withdrawals or transfers in person, at an ATM, by mail, or by telephone with the check mailed to you. A preauthorized transfer includes any arrangement the Bank makes either to pay a third party from your account on written or oral instruction, or to pay a third party from your account at a predetermined time or on a fixed schedule.

STATEMENT SAVINGS ACCOUNT

Rate information - Your interest rate and annual percentage yield may change. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $100.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $200.00 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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee -

  • $200.00 average collected daily balance
  • Account owner is 55 years or older, or *
  • Account owner is under 18 years old *

* You must notify us of your eligibility

Monthly maintenance fee imposed if minimum is not met -

  • $2.00 per month

Transaction limitations:
Federal law limits the type of transactions on this account. You can make no more than six preauthorized, automatic, telephone or electronic withdrawals or transfers to another account at the same bank or to a third party during a month. Electronic transfers, withdrawals, or payments to third parties initiated by you from a personal computer (online banking) or by debit card are also included as a type of transfer subject to the six-transaction limit. If you exceed the six-transaction limitation, an excess transaction charge of $10.00 per item will be assessed. However, withdrawals can be unlimited if you make withdrawals in person, at an ATM, by mail, or by telephone with the check mailed to you. A preauthorized transfer includes any arrangement the Bank makes either to pay a third party from your account on written or oral instruction, or to pay a third party from your account at a predetermined time or on a fixed schedule.

HIGH YIELD CONSUMER SAVINGS ACCOUNT

Rate information - Your interest rate and annual percentage yield may change. This product is a tiered account. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $1,000.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $1,000.00 to obtain the disclosed annual percentage yield. Higher balances may earn higher interest rates and annual percentage yields as set forth in our Summary of Interest Rates/Products table.

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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee -

  • $1,000.00 average collected daily balance

Monthly maintenance fee imposed if minimum is not met -

  • $3.00 per month

Transaction limitations:
Federal law limits the type of transactions on this account. You can make no more than six preauthorized, automatic, telephone or electronic withdrawals or transfers to another account at the same bank or to a third party during a month. Electronic transfers, withdrawals, or payments to third parties initiated by you from a personal computer (online banking) or debit card are also included as a type of transfer subject to the six-transaction limit. If you exceed the six-transaction limitation, an excess transaction charge of $10.00 per item will be assessed. However, withdrawals can be unlimited if you make withdrawals in person, at an ATM, by mail, or by telephone with the check mailed to you. A preauthorized transfer includes any arrangement the Bank makes either to pay a third party from your account on written or oral instruction, or to pay a third party from your account at a predetermined time or on a fixed schedule.

IRA SAVINGS ACCOUNT

Rate information - Your interest rate and annual percentage yield may change. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $500.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum daily balance of $500.00 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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee - Not applicable.

Monthly maintenance fee imposed if minimum is not met - Not applicable.

Transaction limitations:
You may not make any transfers from this account to another account of yours or to third parties by preauthorized, automatic, telephone transfer, or by personal computer, or similar order to third parties.

COMMUNITY CHECKING ACCOUNT

The Community Checking account is a relationship account that must be opened with at least one other qualified account. A qualified account is any personal deposit account with the Bank. Loans and business accounts do not qualify. These accounts must be linked by the Bank. All linked accounts must have the same owners.

Rate information - Your interest rate and annual percentage yield may change. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 $100.00 to open this account.

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a combined minimum daily balance of $1.00 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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee -

  • $5,000.00 combined minimum daily collected balance between the Community Checking account and other qualified linked accounts.

Monthly maintenance fee imposed if minimum is not met -

  • $15.00 per statement cycle

COMMUNITY STATEMENT SAVINGS ACCOUNT
(You must have a Community Checking Account.)

Rate information - Your interest rate and annual percentage yield may change. For current interest rates and annual percentage yields, please refer to the Summary of Interest Rates / Products table.

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 obtain the annual percentage yield disclosed - You must maintain a combined minimum daily balance of $1.00 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 items - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Minimum balance to avoid monthly maintenance fee - Not applicable

Monthly maintenance fee imposed if minimum is not met - Not applicable - refer to Community Checking

Transaction limitations: Federal law limits the type of transactions on this account. You can make no more than six preauthorized, automatic, telephone or electronic withdrawals or transfers to another account at the same bank or to a third party during a month. Electronic transfers, withdrawals, or payments to third parties initiated by you from a personal computer (online banking) or debit card are also included as a type of transfer subject to the six-transaction limit. If you exceed the six-transaction limitation, an excess transaction charge of $10.00 per item will be assessed. However, withdrawals can be unlimited if you make withdrawals in person, at an ATM, by mail, or by telephone with the check mailed to you. A preauthorized transfer includes any arrangement the Bank makes either to pay a third party from your account on written or oral instruction, or to pay a third party from your account at a predetermined time or on a fixed schedule.

Common Features

Please refer to our Miscellaneous Fee Schedule for additional information about charges.
We may require no 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 deposit prior to maturity or prior to any notice period may be restricted and will be subject to penalty. See your notice of penalty for early withdrawal information.

Effective July 2009

 

Proud Divisions of Connecticut Community Bank, N.A. ®

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