Account Description
Interest Rate and Annual Percentage Yield (APY) Effective as of May 31, 2023.
The convenience of a checking account while earning interest on qualifying balances is yours with the NOW. If your average collected balance is $1,100 or above, there is no monthly service charge. If your average collected balance falls below $1,100 there is a monthly service charge of $6. If your average collected balance is $1.00 or above you earn the current interest rate. This is a variable interest rate account. The interest rate may change after account opening.
The following are eligible to have a NOW account:
- One or more individuals, including sole proprietors.
- A not-for-profit organization operated primarily for religious, philanthropic, charitable, educational, political, or similar purposes.
- A government unit of the United States, or any state, county, or municipality of the United States, or any United States territory or possession.
- A fiduciary (either individual or corporate) if the beneficiary is otherwise eligible to maintain a NOW account.
- Pension funds, escrow accounts, and security deposits if the entire beneficial interest is held by one of the eligible individuals or entities listed above.
This is a variable interest rate account. The interest rate may change after account opening. (fees may reduce earnings on account) Interest Rate and Annual Percentage
Yield (APY) Effective as of May 31, 2023.
