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Deposit Products
Savings | Personal Checking |
Business Checking
Personal Checking
NOW Account
| NJ Consumer
Checking |
Money Market Checking
NOW Account
The NOW Account (Negotiable Order of Withdrawal) is a checking
account, which earns interest. It is available to individual and joint
depositors. There is a $6 monthly service charge if on any day, the
account balance goes below $300.
Features
This is an FDIC insured deposit. Interest is earned on this account,
and is compounded daily and credited to the account monthly. The
minimum deposit to open this account is $100. There is no minimum
balance, however a $6 monthly service charge will be charged if the
account balance falls below $300 on any day during the month.
Additional deposits or withdrawals can be made at any time. All
deposits are subject to collection before withdrawal. The depositor
receives a monthly statement, which is a record of deposits and
withdrawals. Direct deposits (such as payroll, pension or social
security checks) can be made to this account. The depositor is
eligible to receive a free STAR ATM card or Visa Debit Card.
Personalized checks are available at a reasonable fee. The depositor
receives free access to the telephone banking system. Please call
for additional details.
Rates
Current rates can be found on our rate sheet. A $25 service charge is
assessed for any check presented for payment against insufficient
funds. A $15 charge is assessed for a stop payment order on any
check. A $10 charge is assessed for the certification of a check.
NJ Consumer Checking
This checking account was mandated by the State of New Jersey to
ensure access to checking services for individuals of low to moderate
income, who were not able to meet the minimum balance requirements
imposed by many banks. After a minimum opening deposit of $50 and a
monthly service charge of $3, a depositor is permitted unlimited
deposits and withdrawals, with no balance requirements. Eight (8) free
checks may be written per monthly cycle period. Additional checks
written in excess of 8 will be charged and additional $.50 per check.
The account must maintain a minimum daily balance of $1 to remain
active.
Features
This is an FDIC insured deposit. No interest is earned on this
account. The minimum deposit to open this account is $50. Additional
deposits or withdrawals can be made at any time. All deposits are
subject to collection before withdrawal. The depositor receives a
monthly statement, which is a record of deposits and checks. Direct
deposits (such as payroll, pension or social security checks) can be
made to this account. There is a monthly service charge of $3.
Personalized checks are available at a reasonable fee. The depositor
receives free access to the telephone banking system. Please call
for additional details.
Rates
No interest is earned on this type of account. There is a monthly
service charge of $3. A $25 service charge is assessed for any check
presented for payment against insufficient funds. A $15 charge is
assessed for a stop payment order on any check. A $10 charge is
assessed for the certification of a check.
Money Market Checking
This account is recommended for those depositors who maintain a
higher balance.
Features
This is an FDIC insured deposit that has deposit tiers. Interest is
paid on the full balance in the account at the rate that corresponds
to that deposit tier. If the balance falls below the minimum
requirement, the rate will be adjusted to the current NOW account
rate. You may make six (6) transfers from your account, but only
three (3) TRANSACTIONS MAY BE MADE BY CHECK TO A THIRD PARTY PER
MONTHLY CYCLE PERIOD. The six (6) transfers limit refers to
“preauthorized transactions” and the three-transaction limit
includes third party checks, drafts and debit cards, including point
of sale (POS) transactions. In person transactions, including those
conducted at an ATM are unlimited. With the Money Market Checking
account, the depositor receives a monthly statement of transactions
similar to a checking account. Interest on this account is
compounded daily and credited monthly. The depositor is eligible to
receive a free Star ATM card. The minimum balance that is required
to open this account is $1000. All deposits are subject to
collection before withdrawal. The depositor receives free access to
the telephone banking system. Please call for additional details.
Rates
Current rates can be found on our rate sheet.
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