Passbook Savings
This is the traditional Savings Account where all transactions and balances are entered into a passbook, which many depositors call 'their bankbook'. It is used primarily for savings and checks may not be written against this account.

Features:
This is an FDIC insured deposit. The passbook is the depositor’s primary record and should be presented at all transactions. Interest on this account is compounded daily and credited monthly. The interest rate paid on this account may be found on the current rate sheet. The minimum balance required to open this account is $10. This account is not eligible for direct deposit. There is no minimum balance required on this account. All deposits are subject to collection before withdrawal. Interest earned on this account is subject to income tax and the bank issues a yearly IRS form 1099. The depositor must supply the bank with a taxpayer identification number (social security number).

Rates:
Current rates can be found on the weekly rate sheet.