Personal Savings Accounts
Money Market Account
- Minimum balance to open account: $1,000.00
- Interest bearing account*
- Minimum balance to obtain the annual percentage yield: $1,000.00
- Transaction limitations: six (6) transfers or withdrawals per month or statement cycle**
- Frequency of rate changes: at our discretion, we may change the interest rate on the account. The rate will never change by more than 2.00% daily.
- Compounding and crediting: interest will be credited to the account on a monthly basis. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
- Balance computation: the daily balance method is used to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day.
- Effect of closing: if you close your account before interest is credited, you will receive the accrued interest.
Silver Savings Account
- Minimum balance to open account: $10.00
- Interest bearing account*
- Minimum balance to obtain the annual percentage yield: $10.00
- Transaction limitations: you may make 6 transfers or withdrawals from your account per month or statement cycle **
After the third withdrawal a $1.00 fee will be assessed for each subsequent transfer or withdrawal per month regardless of the minimum balance.
- Frequency of rate changes: at our discretion, we may change the interest rate on the account. We may change the interest rate on the account daily. The rate will never change by more than 2.00% daily.
- Compounding and crediting: interest will be credited to the account quarterly. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
- Balance computation: the daily balance method is used to calculate interest on the account. This method applies a periodic rate to the principal in the account each day.
- Effect of closing: if you close your account before interest is credited, you will receive the accrued interest.
**Limitations on frequency of transfers or withdrawals:
Federal banking regulations restrict the number of withdrawals and transfers that can be made per month or statement cycle. During any calendar month/statement cycle you may make up to six (6) of any combination of the following types of withdrawals or transfers: withdrawals or transfers made between your other Bank of Wiggins accounts made by preauthorized or automatic transfer by telephone, fax, or internet banking ( if applicable). Withdrawals or transfers to a third party made by preauthorized transfer (including ACH debits), or automatic transfer by telephone, fax, or internet banking ( if applicable), or by check, draft, debit card (if applicable) or similar order to a third party. You may make an unlimited number of transfers between your other Bank of Wiggins accounts if made in person, by ATM, mail or messenger, or for the purpose of repaying loans at the same bank. You may also make an unlimited number of withdrawals from your account if made in person, or by ATM, mail or messenger. You may make an unlimited number of transfers or deposits into the account. If you exceed these limitations on a re-occurring basis, we may change your account type to a non-interest bearing checking account. You will be notified should this be necessary, prior to the change.
*Visit your local Bank of Wiggins branch for information on interest rates.
Christmas Club Savings Account
- Minimum balance to open account: $1.00
- Interest bearing account*
- Minimum balance to obtain the annual percentage yield: $1.00
- Transaction limitations: you may make an unlimited number of deposits into your account.
- Club account withdrawal limitations: the account will be closed if any withdrawals are made prior to maturity.
- Frequency of rate changes: at our discretion, we may change the interest rate on the account. We may change the interest rate on the account daily. The rate will never change by more than 2.00% daily.
- Compounding and crediting: interest will be credited to the account annually. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
- Balance computation: the daily balance method is used to calculate interest on the account. This method applies a periodic rate to the principal in the account each day.
- Effect of account closing: if you close your account before interest is credited, you will not receive the accrued interest.
*Visit your local Bank of Wiggins branch for information on interest rates.