A savings account is an interest bearing account and there is no minimum balance to open the account. Contingent upon a thirty day posted notice, the interest rate and annual percentage yield are subject to change.
Money Market Accounts
A money market account is an interest bearing account that is compounded monthly. The minimum balance to open such an account is $2500.00. The interest rate and annual percentage yield are subject to change. If the Money Market Account drops below the minimum balance of $2500.00, then the interest rate falls to the savings account interest rate. The rate will be adjusted back to the Money Market Account rate once the balance reaches $2500.00 again.