Savings

REGULAR PASSBOOK SAVINGS

Interest is compounded daily and paid to your account quarterly. Withdrawals permitted anytime. $50.00 minimum deposit required to open account. If during any month, your daily balance falls below $50.00, your account will be subject to a $1.00 charge for that month.

MINOR FREE SAVINGS

Interest is compounded daily and paid to your account quarterly. Withdrawals permitted anytime. $10.00 minimum deposit required to open account. Service charges and minimum balances do not apply to minor’s savings accounts who are under the age of 18.

MONEY MARKET SAVINGS

Interest bearing account paying a higher rate than passbook or now accounts. A money market deposit account (MMDA) is a type of savings account that typically offers higher interest rates than traditional savings accounts. No service charge when your account maintains a balance of $2,500 or more. If the account falls below $2,500, there is a monthly service charge of $7.50 plus 20¢ per debit transaction. Withdrawals are permitted anytime. Interest is compounded monthly and paid on all money market account balances according to the following tiers.

Tier 1: If your daily balance is $25,000 or more, the interest will be paid according to the rate set at Welcome State Bank.

Tier 2: If your daily balance is less than or equal to $24,999.99, the interest will be paid according to the rate set at Welcome State Bank.