Information - This is a tiered rate
account. Your interest rate and annual
percentage yield are based on the balance in your
account. The interest rates within the tiers
Determination of rate and frequency of change - Rates
are determined at the discretion of bank
management. We may change the interest rate on
our account at any time.
Compounding and crediting frequency - Interest
will be compounded every month and credited to your
account every month.
Daily collected balance computation method - We
use the daily collected 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 we
receive credit for the deposit of non-cash items
(for example checks).
Transaction Limitations - Transfers from a Money
Power Savings account to another account or to third
parties by pre authorized, automatic, or telephone
transfer are limited by Federal regulation to six
per month with no more than three transfers by debit
card, check or similar order to third parties.
Fees - A withdrawal fee of $10 will be charged
for each withdrawal in excess of six during a
monthly statement cycle. A charge of $10 per check
will be charged for any checks written in excess of
3 per month. A cash machine transaction fee of $1
will be charged for each transaction performed at
non-proprietary ATM's. A non-proprietary ATM
is a cash machine not owned by Community National