Interest-bearing Accounts

Bank by phone to obtain information about your checking, savings, or loan account 24 hours a day, 7 days a week by dialing (956) 761-5425.

Savings Account (Regular & Business)

• Designed as a basic savings account, especially for those with limited banking needs. Ideal for a first account for your children or for those people who need only the most basic of savings accounts.
• The minimum deposit required to open this account is $100.
• You must maintain a minimum balance of $100 in the account each day to avoid a fee and obtain the Annual Percentage Yield.
• There are no deposit limitations. Withdrawal limitations do exist. Refer to our Fee Schedule.
• Your interest rate and Annual Percentage Yield may change. At our discretion, we may change the interest rate on your account at any time.
• Interest begins to accrue on the date of deposit if received by 2:30 p.m.
• Interest is compounded monthly and credited to your account monthly when the statement is prepared. If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account. This method applies a periodic rate to the daily balance in the account for the period.

NOW Account

• An interest bearing checking account with unlimited withdrawals for those non-business account holders maintaining a minimum balance of $1,500.
• The minimum deposit required to open this account is $1,500.
• There are no deposit limitations.  Some withdrawal fees exist.  Refer to our Fee Schedule.
• Your interest rate and Annual Percentage Yield may change.  At our discretion, we may change the interest rate on your account at any time.
• Interest begins to accrue on the date of deposit, if received by 2:30 p.m.
• Interest is compounded monthly and credited to your account monthly when the statement is prepared.  If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account.  This method applies a periodic rate to the daily balance in the account for the period.

Certificates of Deposit

• Time savings structured to customers’ needs.  Various terms of maturity available and described below.
• The minimum deposit required to open a Certificate of Deposit, regardless of term structure, is $1,000.
• The minimum balance required to obtain the disclosed Annual Percentage Yield is $1,000, regardless of the term length of the Certificate.
• All Certificates of Deposit have a fixed interest rate, which will not change for the term of the deposit.
• Certificates of Deposit are available with the following maturities: 1 Month; 3 Month; 6 Month; 9 month; 1 Year; and 2 Year.
• Various other term structures may be available upon request and will be covered by separate disclosures upon purchase.
• Interest begins to accrue on the date of deposit if received by 2:30 p.m.
• The term required to obtain the disclosed Annual Percentage Yield will be the full term of the Certificate (until maturity).  The Annual Percentage Yield assumes the interest remains on deposit until maturity.
• Interest will be compounded and credited to your CD monthly unless you specify otherwise.
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the principal of the account each day.
• Your Certificate of Deposit will automatically renew at maturity.  You have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.
• After the account is opened, you may not make deposits into or withdrawals of principal from this account until the maturity date.  Withdrawals of credited interest are permitted without a penalty.
• If the principal is withdrawn before the maturity date, a penalty equal to one-month’s interest may be imposed.  This penalty rate will be the rate in effect on the date of withdrawal.

Add-On Certificate of Deposit

Terms are identical to Certificate of Deposit Unless otherwise stated below.

Special Terms

• Maturity Term: 9 months only.
• After the account is opened, you can only make unlimited deposits into the account.  (Minimum deposit amount is $100.00).
• One principal withdrawal is allowed during the term of the certificate of deposit without penalty.
• Any additional withdrawals will be penalized in accordance to the Certificate of Deposit disclosure.
• Balance must remain above $1000 to continue to earn stated interest.

 Money Market Account (Regular & Business)

• Gives you a high interest rate and limited check writing privileges.
• The minimum deposit required to open this account is $2,500.
• You must maintain a minimum balance of $2,500 in the account each day to avoid a fee.
• There are no deposit limitations.  Withdrawal limitations do exist.  You may make six (6) withdrawals from your account each month, but only three (3) may be payments by check to third parties.  Refer to our Fee Schedule.
• Your interest rate and Annual Percentage Yield may change.  At our discretion, we may change the interest rate on your account at any time.
• Interest begins to accrue on the date of deposit if received by 2:30 p.m.
• Interest is compounded monthly and credited to your account monthly when the statement is prepared.  If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account.  This method applies a periodic rate to the daily balance in the account for the period.
• You must maintain the minimum balance shown in the account each day to obtain the Annual Percentage Yield described.

Premium Money Market Account

• Gives you a high interest rate and limited check writing privileges.
• The minimum deposit required to open this account is $250,000.00.
• You must maintain a minimum balance of $250,000.00 in the account each day to receive the stated interest rate.
• There are no deposit limitations.  Withdrawal limitations do exist.  You may make six (6) withdrawals from your account each month, but only three (3) may be payments by check to third parties. 
• Your interest rate and Annual Percentage Yield may change.  At our discretion, we may change the interest rate on your account at any time.
• Interest begins to accrue on the date of deposit if received by 2:30 p.m.
• Interest is compounded monthly and credited to your account monthly when the statement is prepared.  If you close your account before interest is credited, you will not receive the accrued interest.
• We use the daily balance method to calculate the interest on your account.  This method applies a periodic rate to the daily balance in the account for the period.
• You must maintain the minimum balance shown in the account each day to obtain the Annual Percentage Yield described.
• Service charge = $0.00
• All miscellaneous bank service charges and fees are waived for this account.

Individual Retirement Account (IRA)

• Designed as an interest bearing retirement account.
• Deposited funds are invested into a Certificate of Deposit with a term to maturity of 1 year.
• The minimum deposit required to open an IRA Account in the form of a Certificate of Deposit is $500.
• Rates will be in effect until the maturity date of the Certificate.  The Annual Percentage Yield assumes interest remains on deposit until maturity.  A withdrawal will reduce earnings.
• The term required to obtain the Annual Percentage Yield is the full term of the Certificate (until maturity).
• Interest is compounded monthly and is credited to your account monthly.
• Interest begins to accrue on the date of deposit, if received by 2:30 p.m.
• If you close your account before maturity, a penalty equal to one month’s interest may be imposed.  This penalty is the rate in effect on the date of withdrawal.
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the principal of the account each day.
• Your certificate of Deposit will automatically renew at maturity.  You will have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.
• You are allowed to make deposits into the IRA distributions from your account in amounts allowed by Internal Revenue Service rules pertaining to IRA accounts.  There will be no bank penalty for these transactions.