CNB Municipal Choice Savings:
- No monthly maintenance fee.
- Earn interest on every dollar.
- Have up to six third-party transfers per statement cycle without penalty.
- Reduce your administrative costs and CD bidding.
Designed to meet the unique financial needs of cities, towns, school districts, government agencies and other municipalities, CNB Municipal Choice is a competitive, public funds tiered Money Market/Savings account. Have CNB handle all your municipal banking needs, including deposit accounts and municipal loans for convenient one-stop service. Rely on our financial expertise: we manage over $200 million of the community's one-stop service.
| Municipal Choice Account Specific Account Terms |
Monthly
Maintenance Fee
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$0
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Minimum Balance Required
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N/A
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Balance Computation Method
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We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
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Compounding and Crediting:
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Interest will be compounded and credited monthly on your account statement date.
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Accrual of interest on non-cash deposits:
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Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
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Transaction limitations: Each statement period you may make up to six (6) transfers or withdrawals or a combination thereof from your account by check, debit card, or similar order payable to third parties, or by preauthorized or automatic transfer or telephonic or data transmission agreement, order or instruction. In the event you exceed the limit during the statement period, you will be notified by the Bank, and your account will be subject to the "Excess Transaction" fee for every restricted transaction posted to the account for the remainder of the period. If you continue to exceed this limit in a statement period after the Bank has notified you, the Bank is required by Federal Regulation to close your Municipal Choice Account and place the funds in a transaction account or take away the transfer capabilities of your Municipal Choice Account. There is no limit on the number of withdrawals you may make from your account in person (including by an agent) using the Bank's authorized form, by mail, messenger or by telephone when you request a check be mailed to you. The Bank reserves the right to require at least seven (7) days written notice of an intended transfer or other withdrawal.