Personal Savings Accounts
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F&M SAVINGS | F&M MONEY MARKET | F&M JUNIOR SAVINGS | |
|---|---|---|---|
| Minimum Opening Deposit | $50 | $50 | $10 |
| Maintenance Fee | $5.00 will be imposed every monthly statement cycle if the balance in the account falls below $500.00 any day of the monthly statement cycle. | $10.00 will be imposed every monthly statement cycle if the balance in the account falls below $1,000.00 any day of the monthly statement cycle. | N/A |
| Transaction Limitations | N/A | N/A | N/A |
| Interest** | Interest Rates | Interest Rates | Interest Rates |
| Dormant Fee | $5.00 will be imposed monthly if the daily balance falls below $500.00 and no activity for 12 months. | $5.00* will be imposed monthly if the daily balance falls below $500.00 and no activity for 12 months. | N/A |
| Other Requirements | N/A | N/A | Must be age 18 years or younger. Kids age 12 years or younger are automatically enrolled in Money Tree Club. |
*This fee is subject to the 7% Iowa state sales tax.
**At our discretion, the interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit non-cash items (ie: checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate and annual percentage yield may change.