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Truth-in-Savings Act Disclosure
Truth-in-Savings Act Disclosure
Money Market Accounts
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Tiered Savings Account
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Certificate of Deposit
Money Market Accounts:
Rate Information -
Your interest rate and annual percentage yield may change.
Frequency of rate changes -
We may change the interest rate on your account at any time.
Determination of rate -
At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency -
Interest will be compounded every month. Interest wilt be credited to your account every month.
Minimum balance to open the account -
You must deposit $10,000.00 to open this account.
Minimum balance to avoid imposition of fees -
A monthly service charge fee of $10.00 may be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed -
You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits -
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction limitations:
Transfers from a Golden Money Market account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no more than three by check (including e-check), draft, or debit card or similar order to third parties.
Tiered Savings Account:
Rate Information -
Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate -
At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency -
Interest wilt be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account -
You must deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees -
A monthly service charge fee of $10.00 may be imposed every statement cycle if the balance in the account falls below $100.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed -
You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method -
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits -
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction limitations:
Transfers from a Tiered Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card or similar order to third parties,
Fees:
An excessive withdrawal fee of $10.00 will be charged for each withdrawal in excess of six during a month.
Certificate of Deposit
Compounding frequency -
Interest will not be compounded.
Crediting frequency -
We will not credit interest to your account. We will pay interest to you or to your Golden Money Market or Savings account you have every month.
Minimum balance to obtain the annual percentage yield disclosed -
You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual Percentage Yield.
Daily balance computation method -
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits -
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction limitations:
You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty.
Golden Security Bank credits or pays interest monthly.
Early Withdrawal penalties
(a penalty may be imposed for withdrawals before maturity)
If your account has an original maturity of less than three years:
The fees we may impose will equal
90
days interest on the amount withdrawn subject to penalty.
If your account has an original maturity of three years or more:
The fees we may impose wilt equal
180
days interest on the amount withdrawn subject to penalty.
In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. See your plan disclosure if the account is part of an IRA or other tax qualified plan.
Automatically renewable time account -
This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.
Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.
4.00% APY
Rates are subject to change without prior notice.
View all Rates (PDF)
1-(866)-472-8431
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