CHECKING ACCOUNT OPTIONS

E-Z CHECKING ACCOUNT

Minimum balance to open the account - You must deposit $50.00 to open this account. 

Minimum balance to avoid imposition of fees - A monthly service fee of $5.00 will be imposed if the balance in the account falls below $200.00 any day of the statement cycle. This fee will not be charged if one or more of the following conditions are met:

• you have direct deposit into the E-Z Checking Account
• you are age 55 or over
• you maintain $1,000.00 in a Savings Account or Certificate of Deposit at Bank of Oakfield
• you have a loan with Bank of Oakfield and the payment is automatically deducted from the E-Z Checking Account

Regardless, the monthly service charge will be waived during the first statement cycle the account is opened.

E-Z MONEY CHECKING ACCOUNT

Rate Information - Your interest rate and annual percentage yield may change. 

Frequency of rate changes - We may change the interest rate on your account at any time.

Determination of rate - At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency - Interest will be compounded every day.  Interest will be credited to your account once a month. 

Minimum balance to open the account - You must deposit $500.00 to open this account.

Minimum balance to avoid imposition of fees - A service fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle. This fee will not be charged if one or both of the following conditions are met:

• you maintain $5,000.00 in a Savings Account or Certificate of Deposit at Bank of Oakfield
• you have a loan with Bank of Oakfield and the payment is automatically deducted from the E-Z Money Checking Account

Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.

Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).

Please refer to our separate rate sheet for current interest rate and annual percentage yield information and to our separate fee schedule for additional information about charges.