Treasury Indexed Account

Variable rates are established weekly based on 90% of the 13 week auction average for Treasury Bills, with a stated floor. The current interest rate floor is 2.00%, subject to change. Interest is compounded daily, calculated on a 365 day factor and paid on the last day of each month. The minimum balance to open this account is $5,000. The interest rate on balances under $5,000 will be the same rate paid on High Yield Checking accounts. There will be a $6.00 service charge when the balance drops below $1,000 any time during the monthly cycle, which is from the first day of the month through the last day of the month. A statement will be mailed within 7 days of the cutoff date, and checks will be truncated. The first 40 standard printed checks are free. Transfers to another account or to third parties by preauthorized, automatic, internet or telephone transfer are limited to 6 per statement cycle, with no more than 3 by check or similar order to third parties. However, there are no restrictions on the number of withdrawals that you personally make in our office.  Fees may reduce earnings on the account.  The rate may change after the account is opened.

 

 

 

Member FDIC
 Equal Housing Lender