West Point Bank

You must deposit $1,000 (Money Management)/ $2,500 (Money Market) to open the account.
Anytime during the month that the actual balance drops below $1,000 (Money Management)/ $2,500 (Money Market), the account is subject to a service charge. You must maintain a minimum average daily balance of $500 in the account each month to obtain the disclosed annual percentage yield.
This is a limited transaction account. You are limited to no more than six checks per month. You will be allowed an additional six pre-authorized withdrawals or transfer requests through the PC banking system per month.
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average 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.
Interest will be compounded monthly and credited to your account on the last business day of the month. If you close your account before the interest is credited, you will not receive the accrued amount.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account on the first day of each month.
You are not limited on automatic (pre-authorized) transfer for the purpose of paying loans at West Point Bank. There are no limits on transfers or withdrawals made in person.
Items are counted on the statement for the month they clear the account, not when the transaction occurs.
Excessive abuse of the check writing limitations will lead to one or more of the following:
1. Refusal of transfers;
2. Conversion to a non-interest bearing account;
3. Or account closure.
Excess is defined as more than three (3) abuses in twelve months.