Rate Information - Your interest rate and annual percentage yield may change.
Determination of rate and frequency of change - Rates are determined at the discretion of bank management. We may change the interest rate on your account at any time.
Compounding and crediting frequency - Interest will accrue daily and be paid at maturity.
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). If the account is closed before interest is credited, you will not receive the accrued interest.
Limitations - You may not make withdrawals from this account. At the end of the club account period, the funds in the account plus interest will be mailed to you by check.