REWARD PLUS TRUTH IN SAVING DISCLOSURE

 

REWARD PLUS TRUTH IN SAVING DISCLOSURE

 


Variable Rate - The interest rate for your account is 0.01% with an annual percentage yield of 0.01%. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account daily.

The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change at our discretion. 

Minimum Balance Requirements - You must deposit at least $50.00 to open a Reward Plus account. To obtain the annual percentage yield disclosed, you must maintain a minimum balance of $0.00 in the account each day.

Compounding and Crediting - Interest will be compounded monthly.  Interest will be credited to your account monthly. If you close your account before interest is credited, you will not receive the accrued interest. 

Balance Computation Method -   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.  

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 (for example, checks). 

The interest rate and annual percentage yield stated below are accurate as of the date printed above. If you would like more current rate and yield information please call us at (806) 792-7101 or 1-800-687-2265. 

This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular. 

We reserve the right to at any time require not less than 7 days, notice in writing before any withdrawal from an interest bearing account.

Your Reward Plus account is linked to your Reward Checking account. Should you close your Reward Checking account, your Reward Plus account will also be closed.

There will be a $5.00 service charge1 imposed each statement cycle to receive a paper statement. To avoid this fee you can sign up to receive free e-statements through online banking.

Qualifications must be met by the third Wednesday of each month.  The new qualification cycle begins the following day.

Statements will cut and interest will credit the account the following business day.

 

              Level 3 

                                      APY2                 Interest Rate

                                       2.78%                           2.75%

 If you meet the following qualifications in your linked Reward Checking account you will receive Reward Plus level 3:

1. Twenty (20) everyday (non-recurring) debit card transactions3 must post and settle4 to your account each qualification cycle (ATM withdrawals do not apply).

2. Have at least one (1) bill payment post and settle4 to your account each qualification cycle using our free online service.

3. Have at least four (4) ACH items (Electronic Funds Transfer) post and settle4 to your account each qualification cycle.

4. Sign up and receive your statement electronically through free City Bank E-Statements. 

              Level 2 

                                       APY2                Interest Rate

                                    1.11%                       1.10%                 

If you meet the following qualifications in your linked Reward Checking account you will receive Reward Plus level 2:

1. Eight (8) everyday (non-recurring) debit card transactions3 must post and settle4 to your account each qualification cycle (ATM withdrawals do not apply).

2. Have at least one (1) bill payment OR one (1) ACH item (Electronic Funds Transfer) post and settle4 to your account each qualification cycle.

              Level 1 

                                    APY              Interest Rate

                                        0.01%                          0.01%

If you do not meet the qualifications of Level 3 or Level 2 you will receive Reward Plus level 1.

 

1All fees subject to sales tax in New Mexico.
2Annual Percentage Yield
3A credit, ATM withdrawal or refund to your account does not qualify as a debit card transaction.
4To post and settle, the transaction must be deducted from your current balance. 


**Refer to the Schedule of Fees in the Consumer Deposit Agreement and Disclosures for fees that may apply to your account.**