Statement Savings Account

The Statement Savings Account is also one of the Bank’s regular savings accounts.  It is best suited for disciplined savers who wish to gain a return on their deposits, but require convenient access to their funds.

The following highlight the criteria/features of the Statement Savings Accounts:

  • Minimum initial deposit of fifty dollars ($50.00) to open the account
  • Minimum balance of one hundred dollars ($100.00) required to maintain the account
  • Free online banking
  • Free ATM/Visa Debit Card
  • Quarterly interest payments – interest will only be earned if the average daily balance of a cycle (3 months) is greater than one hundred dollars ($100.00)
  • Quarterly printed statements (option available for only electronic copies)
  • Monthly service fee of five dollars ($5.00) for falling below the minimum balance (calculated on the monthly average balance)
  • Service charge for over-the-counter withdrawals in excess of established limits (only after ATM has been implemented)