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ACACIA FEDERAL SAVINGS BANK
CERTIFICATE OF DEPOSIT
BALANCE COMPUTATION METHOD: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue ON THE DAY OF DEPOSIT.
Minimum Balance Requirements: You must deposit $500.00 to open a regular account or $100.00 for an IRA
Time Requirements: Based upon term selected, maturity date will be determined.
Transaction Limitation: You may not make withdrawals from your account until the maturity date without incurring a penalty.
Compounding: Interest will compound daily.
Crediting: Interest will be credited quarterly (Options of monthly check, quarterly check, semiannual check, annual check, internal transfers and ACH deposits can be requested)
Rate Information: The interest rate on your account will be based on the term selected. Please see our current Rate Sheet for Interest Rates and Annual Percentage Yields (APY).
Annual Percentage Yield: Assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Renewal Policy: This account will be automatically renewed for another term at the close of business on the initial maturity date or on the maturity date of any renewal term. Unless at least 15 days (if the term of the account is more than six months) or at least 10 days (if the term of this account is six months or less) before the maturity date, we give you written notice that account will not be renewed.
The rate of earnings for each renewal will be the same as we offer on new certificates on the maturity date which have the same term, minimum balance and other features as this original certificate. If the original certificate is for special term the renewal information will be provided at account opening. You may call us on the maturity date for the rate of earnings for the next term.
You will have 7 calendar days beginning with the maturity date to withdraw funds without penalty.
Early Withdrawal Penalty: We will impose a penalty if you withdraw any of the deposited funds before maturity. For an account with a term of 31 days or less, the penalty will be the greater of: (1) all of the interest earned on the amount withdrawn from the most recent date of deposit or last renewal, or (2) all the interest that could have been earned on the amount withdrawn during a period equal to one-half of the maturity period.
For an account with an original term of more than 31 days and up to and including one year, the penalty will be three month's interest on the amount withdrawn.
For an account with an original term of more than one year and up to and including two years, the penalty will be 6 month's interest on the amount withdrawn.
For an account with an original term of more than two years and up to and including three years, the penalty will be 12 month's interest on the amount withdrawn.
For an account with an original term of more than three years, the penalty will be 18 month's interest on the amount withdrawn.
CHOICE CHECKING GENERAL DISCLOSURE
TOP CHOICE AND INTEREST OPTIONS:
BALANCE COMPUTATION METHOD: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue ON THE DAY OF DEPOSIT.
COMPOUNDING AND CREDITING INTEREST: Compound daily. Interest will be credited to your account monthly.
RATEINFORMATION: Please refer to Acacia Federal Savings Bank current Rate Sheet for Interest Rate and Annual Percentage Yield (APY). Under bank discretion, Acacia Federal Savings Bank reserves the right to change the interest rate and does not tie changes to an index.
ANNUAL PERCENTAGE YIELD: Assumes principal and interest will remain on deposit.
A withdrawal will reduce earnings.
MINIMUM BALANCE REQUIREMENTS: For the Top Choice a deposit of $5,000.00 is required to open the account and to avoid a $15.00 monthly fee. For the Interest $500.00 is required to open the account and to avoid a $5.00 monthly fee.
ALL OPTIONS:
SPECIAL RULES FOR NEW ACCOUNTS: The availability of funds for the first 30 calendar days on any local or out of state (Virginia) check will have a hold of 10 business days. Consult the “Important Account Information For Our Customer” brochure for more information.
FEES: Please refer to fee schedule.
Sensible SAVINGS Accounts
BALANCE COMPUTATION METHOD: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue ON THE DAY OF DEPOSIT.
COMPOUNDING AND CREDITING INTEREST: Interest compound's daily.
Interest will be credited to your account quarterly.
TRANSACTION LIMITATIONS: Under federal law you may make up to 6 preauthorized, automatic or telephonic transfer withdrawals from your account to another account or to third parties each month.
Unlimited deposits and withdrawals may be made by mail or in person.
RATE INFORMATION: Please see our current Rate Sheet for Interest Rates and Annual Percentage Yields (APY). Under bank discretion, Acacia Federal Savings Bank reserves the right to change the interest rate and does not tie interest rate changes to an index.
ANNUAL PERCENTAGE YIELD: Assumes principal and interest will remain on deposit.
A withdrawal will reduce earnings.
MINIMUM BALANCE REQUIREMENTS: There is no minimum balance requirement on this account.
SPECIAL RULES FOR NEW ACCOUNTS: The availability of funds for the first 30 calendar days on any local or out of state (Virginia) check will have a hold of 10 business days.
FEES: Please refer to fee schedule.
TIERED MONEY MARKET ACCOUNT
BALANCE COMPUTATION METHOD: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Interest begins to accrue ON THE DAY OF DEPOSIT.
COMPOUNDING AND CREDITING INTEREST: Compound daily.
Interest will be credited to your account monthly.
RATE INFORMATION: Please see our current Rate Sheet for Interest Rates and Annual Percentage Yields (APY). Under bank discretion, Acacia Federal Savings Bank reserves the right to change the interest rate and does not tie interest rate changes to an index.
ANNUAL PERCENTAGE YIELD: Assumes principal and interest will remain on deposit.
A withdrawal will reduce earnings.
MINIMUM BALANCE REQUIREMENTS: A deposit of $1,000.00 is required to open this account and to avoid a $10.00 monthly fee.
TRANSACTION LIMITATIONS: Under federal law you may make up to 6 withdrawals by check, preauthorized, automatic or telephonic transfer from your account to another account or to third parties each month.
Unlimited deposits and withdrawals may be made by mail or in person.
SPECIAL RULES FOR NEW ACCOUNTS: The availability of funds for the first 30 calendar days on any local or out of state (Virginia) check will have a hold of 10 business days.
FEES: Please refer to fee schedule for possible additional fees and ways to avoid fees. Fees may reduce earnings.