Savings Account – Truth in Savings

TISA Disclosure for SV Product 101 SAVINGS

02/05/2019

Minimum Balance to Open Account – $50.00 (Minors – $5.00)

Minimum Balance to Obtain the Annual Percentage Yield Disclosed – Maintain daily balance of $200.00.

Minimum Balance to Avoid Imposition of Quarterly Base Fee – A quarterly base fee of $4.00 will be imposed unless a minimum daily balance of $200.00 is maintained for the quarterly statement cycle. The Quarterly Base Fee of $4.00 is not charged on accounts for minors under the age of 18.

Fees – A service charge of $2.00 will be charged for each debit over six (6) per quarter, regardless of whether the transaction is Limited or an Unlimited Transactions/Withdrawal.

Please refer to our “Schedule of Deposit Service Fees” for additional fee(s) which may apply.

Rate Information:

NOTE: In this disclosure, Annual Percentage Yield is abbreviated as “APY”. Interest Rate: .1500% APY: .15%

For rate information after the date noted above, please call us at 678-284-3432.

Frequency of Rate Changes – We may change interest rate on the account at any time.

Determination of Rate – At our discretion, we may change the interest rate on the account.

Compounding and Crediting Frequency – Interest will be compounded every day. Interest will be credited to the account quarterly.

Accrual of interest on Noncash Deposits – Interest begins to accrue on the business day we receive credit for the deposit of noncash items (for example, checks).

Daily Balance Computation Method – A daily balance method is used to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Effect of Closing Account – Accrued interest will be paid.

Savings accounts are limited transaction accounts and are subject to Regulation

D. Excessive withdrawals over the Reg D limitations may result in fees, account closure, change of account type, termination of transfer capability or other remedial actions.

Limitations on Frequency of Transfers:

In addition to those limitations on transfers elsewhere described, if any, the following limitations apply per Reg D: Transfers from a Savings account to another account or third parties by preauthorized or automatic transfer, check, debit card transaction, Automated Clearing House (ACH), telephone, fax, Online Banking or Mobile Banking are limited to six (6) per statement cycle.

Unlimited Transactions/Withdrawals:

The following types of withdrawals are unlimited per Regulation D, but may result in fees assessed by Heritage Bank.

1. Withdrawals from the account made by mail, messenger, ATM, or in person.

2. Transfers from one account of depositor to another account of the same depositor, made by mail, messenger, ATM, or in person.

3. Transfers for the purpose of repaying loans at the same institution.

No fee withdrawals are limited to two (2) each month. A service charge of $2.00 will be assessed regardless of whether the transaction is Limited or an Unlimited Transactions/Withdrawal.

We reserve the right to require seven (7) days prior notice in writing to withdraw any or all of your balance from your Savings account.
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