Personal Savings Accounts

 

Personal Savings

  • $100 opening deposit
  • No service charge is a balance of at least $200 is maintained daily.
    • If the balance falls below $200 on any one day a $3.00 service charge will be assessed
  • Interest accrues daily and paid quarterly
  • Limited to six pre-authorized withdrawals per month
    • For each withdrawal in excess of eighteen per quarter a $1.00 activity fee will be assessed
  • Statement cycles quarterly on the last business day of the month (March, June, Sept, Dec)

Money Market Savings

  • $100 opening deposit
  • No service charge is a balance of at least $2,000 is maintained daily.
    • If the balance falls below $2,000 on any one day a $10.00 service charge will be assessed
  • Limited to six pre-authorized withdrawals per month
  • For withdraws over six a $1.00 activity fee will be assessed
  • Interest accrues daily and paid monthly
  • Interest Rates are tiered
    • $2,000 to $24,999
    • $25,000 and over
  • Statement cycles on the last business day of the month

Certificates of Deposit

  • Wide variety of terms and rates
  • $1,000 minimum investment
  • Early withdrawal penalties will apply if closed prior to maturity
    • If the account has original maturity of 1 year or less; the fee imposed will equal one month’s interest on the amount withdrawn
    • If the account has original maturity of more than 1 year; the fee imposed will equal three month’s interest on the amount withdrawn
  • Interest payment options
    • Deposited into a Cheyenne State Bank checking or savings account
    • Compounded into the Certificate of Deposit
    • Interest check mailed monthly

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