Acorn Savings Disclosures
Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Chart. The interest and annual percentage yield may change. At our discretion, we may change the interest rate on the account based on market conditions. Interest begins to accrue on the next business day after the date you deposit non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. We will use an interest accrual basis of 365 for each day in the year.
Limitations: You must deposit $10.00 to open this account. You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction or by check, draft, debit card of similar order (including POS transactions), made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
Account Fees:There is a $1.50 fee for more than six withdrawals per month.