The Money Market Checking Account is designed for depositors who are willing to deposit larger sums of money in order to obtain higher annual percentage yields. The account has different tiers of interest rates based on a daily balance and has a higher minimum balance requirement than a regular checking account or NOW account.

INTEREST RATE INFORMATION
The interest rate and annual percentage yield on this account may change. At our discretion, Spring Valley City Bank may change the interest rate at any time to the interest rate we choose. There is no minimum or maximum interest rate or annual percentage yield. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic interest rate to the principal in the account each day.

The interest rate for balances of $2,500.00 and above shall be the quoted rate for the regular Spring Valley City Bank Money Market Checking Account. Daily balances below $2,500.00 will accrue interest at that quoted rate less .75%.

Interest will be accrued daily on the principal balance of the account. A daily periodic rate shall be used to calculate the interest. Interest begins to accrue on cash items deposited (for example, checks) no later than the business day we receive credit for their deposit.

PAYMENT OF INTEREST AND COMPOUNDING
All accrued interest will be credited to your account every month on the date that the statement cycle is completed. Interest will be compounded monthly.

MINIMUM DEPOSIT TO OPEN THE ACCOUNT
You must deposit at least $2,500.00 to open the account.

AVERAGE BALANCE TO AVOID SERVICE CHARGE FEES
A service charge of $10.00 will be assessed on the statement cycle date if the average account balance is less than $2,500.00 during that statement cycle.

The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

TRANSACTION LIMITATIONS
Transfers from a Money Market Checking Account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check, draft, point of sale (debit) card, or similar order to third parties. You may make unlimited withdrawals in person, by mail, or with an ATM card.

FEE FOR EXCEEDING TRANSACTION LIMITATIONS
A fee of $5.00 for each transaction that exceeds the transaction limitation during a statement cycle may be assessed.

ADDITIONAL FEES MAY APPLY
Preprinted check charges vary depending on the style of check ordered.

Corporations, partnerships, sole proprietorships, or other for profit organizations shall be assessed a fee of $.07 for each foreign item deposited into this account. Fees for other ordinary bank services are located on the Service Charge brochure.

AUTOMATED TELLER MACHINE INFORMATION
Customers may obtain an ATM card for access to their account. Customers wanting to establish an ATM card relationship must complete an ATM card application and agree to be bound by the terms and conditions found in the ATM Card Agreement.

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