Consumer Savings Accounts
| Account Type |
Minimum Deposit
Requirement to
Open Account |
Maintenance Fee |
Interest Paid |
Features - Benefits |
| Money Market Savings |
$1,000 |
- No fee if balance remains above $1,000
- $5.00 fee if balance falls below $1,000
- 6 free withdrawals - $1.00 charge over 6
- Federal Regulation D limits money market savings accounts to 6 transfers per month, of which only
3 can be by check, draft or debit card payable to third parties and 3 by pre-authorized ACH
withdrawals
- Free ATM card available with separate application |
Yes |
- Automatic transfers - limited
- Direct Deposit
- Higher rate of interest than regular savings
- 24 Hour Touch Tone Teller |
| VIP Savings |
$15,000 |
- No fee if balance remains above $15,000
- $10.00 fee if balance falls below $15,000 or
combination of all accounts and CD's fall below $50,000
- 6 free withdrawals - $1.00 charge over 6
- Federal Regulation D limits savings accounts to 6 transfers per month, of which only
3 can be by check, draft or debit card payable to third parties and 3 by pre-authorized ACH
withdrawals
- Free ATM card available with separate application |
Yes |
- Automatic transfers - limited
- Direct Deposit
- Higher rate of interest than regular savings
- 24 Hour Touch Tone Teller |
| Statement Savings |
$50 |
- No fee if balance remains above $50
- $3.00 fee if balance falls below $50
- Federal Regulation D limits statement savings accounts to 6 transfers per month, of which only 3
can be by check, draft or debit card payable to third parties and 3 by pre-authorized ACH
withdrawals
- Free ATM card available with separate application
- 10 free withdrawals per quarter. $.50 per withdrawal over 10
- 25 free lobby withdrawals per quarter if average balance is greater than $2,500
|
Yes |
- Automatic transfers - limited
- 24 Hour Touch Tone Teller
- Lower minimum balance required
- Quarterly statement |
| Christmas Club |
$5 |
No fees
No withdrawals allowed |
Yes |
A check is automatically mailed to you the first week of November.
Quarterly statement |
| Minor Savings |
$10 |
- No fee if balance remains above $10
- $2.00 fee if balance falls below $10
- 10 free withdrawals per quarter. $.50 per withdrawal over 10
- 25 free withdrawals per quarter if average balance is greater than $2,500
- Federal Regulation D limits savings accounts to 6 transfers per month, of which only 3 can be by
check, draft or debit card payable to third parties and 3 by pre-authorized ACH withdrawals
- Account will automatically change to statement savings account on 18th birthday |
Yes |
Quarterly statement |
* We require that you have $200.00 on deposit to cash a Non-CornerStone State Bank check without a
check-cashing fee.
* We may change the rate on interest bearing accounts, at any time, at our discretion. As rates
change in the market place, current rate are always posted in the bank lobby.
* We use the daily collected balance method to calculate the interest on this account. The method
applies a daily periodic rate to the collected principal balance in the account each day.
* Encoded savings slips are provided free of charge to the account holders.
* Subject to service charges if dormant for 12 months.
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