Deposit Products and Services

Checking Accounts | Savings Accounts | Certificates of Deposit | Money Market | Other Services

Savings Accounts

Account

Rate Information

Balance Information

Limitations

Passbook Savings

You may deposit or withdraw at any time.

This Account is a variable interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield may change at any time and will be determined at our discretion.

Interest begins to accrue no later than the business day when the Bank receives credit for the deposit, usually the first business day after the banking day on which the deposit is received.

Interest will be compounded quarterly and will be credited to the account quarterly. If the account is closed before interest is credited you will not receive the accrued interest.

We use the daily balance method to calculate the interest on the account. This method applies a periodic rate to the collected daily balance in the account for each day. This periodic rate paid is based upon the collected balance in the account.

You must maintain a minimum balance of $1.00 in the account each day to obtain the disclosed annual percentage yield.

You must deposit $50.00 to open this account. Minimum deposit will be reduced to $1.00 for minors.
Transfers from a Passbook Savings account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six (6) per month with no more than six (6) by check, draft, or similar order to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.

You may also be charge 25 cents per withdrawal on all withdrawals that exceed nine during the quarter.

Individual Retirement Accounts (IRA)

Community Development Bank offers a variety of IRA plans including Traditional, Roth, and Coverdell. Our retirement plans offer you a way to set aside a portion of your earnings for the future. We can help you chose the method that best suits your needs. Contact us today for more information.

Other Account Fees The following fees apply to all of your accounts with us except Certificates of Deposit and Time Deposit Account:
Stop Payment	$20.00 per item
Account Reconciliation	$20.00 per hour
Account Research	$20.00 per hour
Account Closure	$10.00 within ninety (90) days
Balance Inquiries	$3.00 after 4 per month
Dormant Account Fee	$5.00 quarterly with two (2) years of inactivity

Clerical Services
Photocopies:	$.10 per copy
Fax	$3.00 per page
Notary Fee	Complimentary service for customers

Other Account Services
Checks - Certified - Money Orders	$10.00 per item $1.00 per hundred; $5.00 maximum charge
Non-Customer Check Cashing	$2.00 per hundred over $100.01; $10.00 maximum charge
- Wire Transfers - Incoming - Outgoing	$10.00 per item $15.00 per item