Six pre-authorized transfers per month are allowed. Three of the 6 pre-authorized transfers may be checks. If this limit is exceeded, the account status will be transferred to a Checking Plus account. There is no service charge on this account. A Christmas Club account will earn a fixed rate of interest for the term of the account on any balance.
Interest is compounded daily and paid at maturity.
A check is issued for the principal and interest at maturity. Deposits are unlimited, however, no withdrawals or checks are allowed. The account may be closed any time with loss of interest. There is no service charge on this account. A fixed rate of interest is paid for the term of the account.