Savings
Savings FAQs
Your most common questions answered below:
IRA
For more information regarding Individual Retirement Arrangements (IRAs), Employer-Sponsored Retirement Plans, Social Security Retirement Benefits, or Medicare and Medicaid please click here.
Money Market
What is a Money Market Account?
A Money Market Account is a dividend-earning savings account with limited transaction privileges. It can be liquidated at any time, without risk of loss or penalty. Federal law imposes limitations on the number of certain types of withdrawals from your Money Market Account. In each monthly statement period, you may make no more than 6 transfers and withdrawals by means of automatic, telephone or computer instructions. Your 6 monthly transactions may include up to 3 transactions by check payable to a third party. There are no limitations on the number of transfers or withdrawals that you make in person, at a branch or at an automated teller machine.
When are dividends paid?
Dividends are credited (posted) and compounded (added to the principal balance on which interest is paid) monthly on all interest-bearing accounts other than Certificates of Deposits and IRAs. On Certificates of Deposits and IRAs, interest is credited to the account monthly, but is compounded daily.
