Energy Club Account

VARIABLE RATE INFORMATION
The interest rate on your account is, see current rate sheet, with an annual percentage yield (APY) of, see current rate sheet. Your interest rate and annual percentage yield may change. .
 
DETERMINATION OF RATE
At our discretion, we may change the interest rate on your account.

FREQUENCY OF RATE CHANGES
We may change the interest rate on your account every day.

LIMITATIONS ON RATE CHANGES
There are no maximum or minimum interest rate limits for this account.
 
COMPOUNDING AND CREDITING
Interest will compounded daily and credited monthly. If you close your account before interest is credited, you will not receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS
You must deposit $1.00 to open this account. You must maintain a minimum daily balance of $1.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement.

BALANCE COMPUTATION METHOD
We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL ON NONCASH DEPOSITS
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
 
FEES AND CHARGES
Please refer to the fee schedule

 

TRANSACTION LIMITATIONS
Transfers from an Energy Club account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month with no transfers by check, draft, debit card or similar order to third parties. Qualified withdrawals from an Energy Club account may be made to pay energy/utility bills, purchase energy saving home improvements or purchase energy efficient appliances or equipment. All other withdrawals from an Energy Club account may be subject to penalty. A penalty of $25.00 per withdrawal may be imposed for non-qualified withdrawals. Overall deposits, excluding interest crediting, to the Energy Club Account are limited to $20,000.

 

CURRENT RATE INFORMATION

To obtain current rate and annual percentage yield information, please call 781-337-8000.

 

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