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Resource Market Fund

Description:

An interest bearing account with a variable, tiered interest rate. The account allows six transfers per cycle.

Best For:

Individuals who maintain high minimum balances, such as professionals, dual income households, and older couples with no children living at home.

Features

  • Balance: An minimum daily balance of $2,500 or an average monthly balance of $10,000 is needed to avoid a monthly service charge.
  • Interest: The interest is tiered, based on the account balance. The rates and tiers are variable. Interest is calculated on the average daily balance, paid monthly, and credited to the account balance.
  • Statements: Statements are generated monthly on statement cycle dates. Checks are listed in numerical sequencing with imaged copies of the cancelled checks.
  • Deposits: Deposits may be made in any amount at any time, in the lobby, drive-up, night deposit, bank by mail.
  • Service Charges: If the balance falls below the daily minimum or average monthly balance, there is a $10.00 service charge per month.

Benefits:

  • Affordable: There is no per check writing charge or per deposit charge.
  • Liquidity and Earnings: An attractive interest rate is earned on the entire account balance, and six debits may be made per statement cycle.
  • Records: Resource Bank returns an imaged copy of all cancelled checks as proof of payment and sends a comprehensive monthly statement.