- It is a $2 minimum to open the account. You may then choose between a $2, $5, $10, or $20 payment option.
- Payments should be made weekly using the coupon. Each account has 50 payment coupons. The 49th payment must be made by October 15th.
- The final payment (Bonus) will be paid to the account upon check issuance. Payments may be set up on automatic transfer from an account with this bank.
- You will earn a Bonus which will be one (1) payment equal to the payment account you selected.
- This account does not earn interest and will not have an Annual Percentage Yield (APY).
- A minimum of 49 weekly payments are required to earn the Bonus payment. “Catch-up” payments must be made no less than monthly in order to earn the Bonus.
- If you close the account prior to October 15th you will NOT earn the Bonus.
- New accounts may be opened from November 1 to March 31 of each year. You will receive a check for the balance plus Bonus no later than November 1st of each year. Except for accounts set up on automatic transfer the account is considered “closed” at this time.
- If payments are made by automatic transfer, transfers will continue to be made until canceled by you.
- No monthly service charge.
- See other services and fee schedule.
Last updated on Jul 31, 2019