Free Regular vs. NOW Checking
Which has no minimum balance & no monthly fees?
Free Regular Checking
How much do I need to open this account?
$25
Which savings account has a passbook?
Regular Savings
Which club helps me save for the Holidays?
Christmas Club
What is the minimum deposit to open a CD?
$500
What's free with both of these accounts?
Mobile & OLB, eStatements, ATM/Debit Card
What fee will I pay for a Cashier's Check & a Money Order?
Nothing! They're both free!
I'm 13 years old. What savings account can I have?
Statement Savings
Which club helps me save for Weddings, Tuition, or Vacations?
Name Your Own Club
What's the penalty if I close a CD before it matures?
CD less than 18 months= penalty is 3 months interest; CD over 18 months= penalty is 6 months interest
Which earns interest & what minimum balance is needed to earn it?
NOW Checking & $10 minimum balance
What balance do I need to avoid a $10 monthly fixed charge?
Minimum combined balances of Gold Checking & savings/MMA/CDs/IRAs of $10,000 or more
Which account has tiered interest rates & requires a $1,000 minimum deposit to open?
Money Market Account
Can I make weekly or biweekly deposits into either Club account?
Weekly OR Biweekly--you choose the amount & frequency
What is the difference between Interest Rate & Annual Percentage Yield?
Annual Percentage Yield= Total interest earned in a year
Interest Rate=Percentage of interest earned (Compounded monthly interest=future interest monthly calculated by increased amount in account)
What balance in a NOW Checking avoids a monthly fee?
Will I get any ATM fee reimbursements with this account?
ATM reimbursements up to $40 per statement cycle
What's free with Statement Savings?
Free mobile & OLB, eStatements, ATM Card
With the Christmas Club, when will the bank send me a check with the balance?
October (& it may be directly deposited into a HB checking account!)
What is a Traditional IRA?
Retirement Account whose contributions are tax deductible & taxes are due when you take distributions or make withdrawals
What ATMs will not charge a fee?
Is there a benefit to me if I also have an IRA with the bank?
Yes! No annual IRA fee (per 1 plan)
With electronic transfers, is there a limit to how many each month I can do/have?
6 or less electronic transfers to avoid a fee
With the Name Your Own Club, when will the bank send me a check for the balance?
You get to choose when! (& it may be directly deposited into a HB checking acct!)
What is a Roth IRA?
Retirement Account where you pay taxes upfront, contributions are not tax deductible, & withdrawals in retirement are not taxed.