Savings

Regular Savings

Features: Earns interest on the entire balance of the account.

Transaction Limitation: Transfer from a savings to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per statement cycle with no more than three debit card, or similar order to third parties. No check writing privileges on regular savings accounts.
Minimum Balance to open the account: $100.00
Monthly Service Charge: $5.00
Minimum Balance to avoid monthly service charge: Maintain daily balance of $500.00
Effect of closing an account: Interest will not be received if you close your account before interest is credited.
Other: $1.00 will be charged for each debit transaction in excess during the month

Well-Being Installment Savings

Features: High earning account by making a small monthly payment at a contracted amount

Transaction Limitation: You must make one deposit into your account each month based on your contract with the bank. There are no withdrawals allowed before maturity. If you fail to make three consecutive installments, your account will be automatically transferred to the Regular Savings Account.
Minimum Balance to open the account: Refer to our well-being installment savings plan brochure for desired contract amount
Effect of closing an account: Interest will not be received if you close your account before interest is credited.
Terms: 12 months to 36 months
Compounding Frequency: Interest will be compounded everyday.
Credit Card Processing networks can be found here and here.
Othes: This account will not automatically renew at maturity. At maturity, the account ceases to accrue interest and you will be paid the contract amount.

Certification of Deposits

Features: Maintenance fee free checking account.

Transaction Limitation: You may not make any deposits into your account before maturity. You can only withdraw interest credited in the term before maturity of that term without penalty.
Minimum Balance to open the account: $1,000.00
Early Withdrawal Penalty: A penalty may be imposed for withdrawals before maturity. Penalty amount varies by the original maturity term. Any withdrawal made during the first six (6) days after the account opening will be subject to an early withdrawal penalty of seven (7) days simple interest on the principal amount withdrawn regardless of term.
Minimum Balance to obtain disclosed APY: $1,000.00
Effect of closing an account: Interest will not be received if you close your account before interest is credited.
Terms: 7 days to 3 years
Compounding Frequency: Interest will not be compounded.
Rate Information: The interest rate and Annual Percentage Yield (APY) in effect at account opening will be paid until first maturity. Please contact First Standard Banks new account representative to obtain the current interest rate.
Interest Crediting Frequency: You can choose to have your interest credited: Monthly, quarterly, semi annually, or at maturity. Interest may be: credited to your account, credited to another checking/savings account you have with us or paid by check.

Treasury Indexed Money Market

Features: Maintain high balance with Interest bearing business checking account

Check Writing Transaction Limitation: Limited to six transfers per month with no more than three by check, drafts, or similar order to third parties.
Minimum Balance to open the account: $100,000.00
Monthly Service Charge: $20.00 plus $0.25 per debit
Minimum Balance to avoid monthly service charge: Maintain daily balance of $100,000.00
Effect of closing an account: Interest will not be received if you close your account before interest is credited.
Other: $10.00 will be charged for each third party check in excess of three during the month. The interest rate on your account will be equal to three months Treasury Bills Rate.

Well Being Money Market

Features: Maintain high balance with Interest bearing business checking account

Check Writing Transaction Limitation: Limited to six transfers per month with no more than three by check, drafts, or similar order to third parties.
Minimum Balance to open the account: $1,000.00
Monthly Service Charge: $8.00 plus $0.25 per debit
Minimum Balance to avoid monthly service charge: Maintain daily balance of $2,500.00 or average daily balance of $5,000.00
Effect of closing an account Interest will not be received if you close your account before interest is credited.
Other: $10.00 will be charged for each third party check in excess of three during the month

Super Well Being Money Market

Features: Maintain high balance with Interest bearing business checking account

Check Writing Transaction Limitation: Limited to six transfers per month with no more than three by check, drafts, or similar order to third parties.
Minimum Balance to open the account: $1,000.00
Monthly Service Charge: $20.00 plus $0.25 per debit
Minimum Balance to avoid monthly service charge: Maintain daily balance of $10,000.00 in either Super Well Being Checking or Well being Money Market accounts
Effect of closing an account Interest will not be received if you close your account before interest is credited.
Other: $10.00 will be charged for each third party check in excess of three during the month