Minimum Balance Requirements
Minimum Balance to Open Account: You must deposit $100.00 to open a Main Street Account
- A service charge of $5.50 will be charged every statement cycle for Main Street Accounts
- A service charge of $3.50 will be charged every statement cycle for Main Street Preferred Accounts.
- Unlimited check writing
- No charge for Main Street checks or $10.00 discount on designer check style
- Preferred rates on consumer loans (excluding real estate)
- No fee will be charged for Cashier’s Checks or Money Orders
Determination and Frequency of Interest Rate
- At our discretion, your interest rate and annual percentage yield may change.
- Determination of the rate is based on tiered balance amounts, as follows
Compounding and Crediting Frequency
- Interest will be compounded monthly
- Interest will be credited to your account monthly
- If you choose to close your account before interest is credited, you will not receive the accrued interest
Accrual of Interest on Noncash Deposits
- Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (i.e. checks)
Balance Computation Method
First Community Bank of Moultrie County uses the “daily balance” method to calculate the interest on your account.
- Daily Balance Method: applies a daily periodic rate to the principal in the account each day