Savings Accounts

• Minimum balance to open $50.00.
• 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 every quarter.
• Withdrawals made by checks, ACH or similar order payable to third parties are prohibited.
• This is a limited transaction account. Telephone transfer requests made though the internet banking system are limited to six (6) per statement cycle. If there is excessive abuse of the limited transactions, West Point Bank has the right to refuse the transfer, or to close the account. Excessive may be defined as more than three abuses in twelve months.
• Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
• The interest rate on your account will be paid through the last day of the quarter.
• Interest will be compounded quarterly and credited to your account on the last business day of each quarter. If you close your account before interest is credited, you will not receive the accrued interest.
• We use the average daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• A $3.00 service charge will be assessed the last business day of each month if the balance drops below $50.00 any day of the month.
• One free withdrawal per month. Each additional withdrawal will be assessed a $3.00 service charge.
• Youth Savings Accounts are available to persons under the age of 18 or held for persons under the age of 18 by an adult. Monthly service charges are waived on Youth Savings Accounts.
• Quarterly statements.
• Free On-line Banking.
• Free Bill Payment.
• Free Telephone Banking.
• See Other Services and Fee Schedule.

UPDATED ON 06/29/2012