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This page was printed from: https://farmbureaubank.com/Deposits/FBMemberMMSA |
FB MEMBER Money Market Account
Our FB MEMBER Money Market account is a special high-yielding savings option intended to help you maximize your returns while providing access to
your funds. This account is intended for large, stable deposit balances for Farm Bureau members, county/parish Farm Bureau offices and Farm Bureau insurance agencies only.
FB MEMBER Money Market Account - Highlights
| Overview |
|
|---|---|
| Minimum Initial Deposit | $25,000 |
FB MEMBER Money Market Account - Rates
| Balance | Interest Rate | Annual Percentage Yield* |
|---|---|---|
| less than $2,500 | 0.55% | 0.55% |
| $2,500 - $24,999 | 0.70% | 0.70% |
| $25,000 and up | 0.90% | 0.90% |
| Minimum Initial Deposit $25,000 | ||
FB MEMBER Money Market Account - Additional Info
E-Option
FB MEMBER Money Market accounts offer the convenience of viewing your monthly statements online without the hassle of sorting through paper
statements. You will not receive monthly statements via mail unless the Bank is required by applicable law to provide such statements. Transaction history will be made available
through the Internet at www.farmbureaubank.com.
Interest
Farm Bureau Bank Money Market Accounts are interest-earning accounts. Our competitive rates are tiered to reward higher balances.
FB MEMBER Money Market Account - Terms & Conditions
Rate Information - The interest rates and annual percentage yields for all Farm Bureau deposit accounts are determined at the discretion of the Bank. The interest rates
and annual percentage yields may change at any time. The interest rate for your account will be based on the following daily balance tiers:
FB MEMBER Money Market
- < $25,000
- > $25,000
| Crediting Frequency | Interest will be credited monthly. |
|---|---|
| Compounding Frequency | Interest will be compounded daily. |
| Daily Balance Computation Method | Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day. |
| Minimum Balance to Open | The minimum balance to open a FB MEMBER account is $25,000.00. |
| Accrual of Interest on Noncash Deposits | Interest will begin to accrue on the business day you deposit noncash items (e.g., checks) into your account. |
| Effects of Closing an Account | If you close a transaction account within 90 days from the original account opening date, a fee will be assessed. If you close your account by check before interest is paid, you will not receive the accrued interest. |
| Transaction Limitations | Federal law limits 6 withdrawals per statement cycle. For transactions exceeding federal requirements, see Account Fees. |
FB MEMBER Money Market Account - Fees
The following fees may be assessed against your account:
| Replace lost ATM/Debit card | $5.00 |
| Check printing | Fee depends on style of check ordered |
| Nonsufficient funds items (each) including withdrawals made by check, in person, ATM, or other Electronic means, regardless of whether the item is paid or not | $25.00 |
| Stop Payment - all items | $25.00 |
| Deposited checks returned unpaid: | |
| - Accountholder’s check from another financial institution | $20.00 |
| - Third party check | $5.00 |
| Outgoing wire transfer | $20.00 |
| Account research | $15.00 per hour, ½ hour minimum |
| Copy of statement, special statement, or account activity printout | $5.00 |
| Copy of check (per check) | $1.00 |
| Account closed within 90 days | $25.00(early withdrawal penalties apply to CDs |
| Excessive withdrawals from Money Market or HSA-Savings | $5.00 per item |
| Cashier's Check | $5.00 each |
| HSA Administration fees | Maximum of $3.00 a month, may vary based on account type |
| HSA Closure fee | $25 if closed within 3 years of open date |
*Annual Percentage Yield. Interest Rates and Yields shown are effective as of 3/12/2010. Farm Bureau Bank deposit accounts are FDIC insured up to $250,000 per depositor through December 31, 2013. Fees could reduce earnings on the account. Interest rates and corresponding APYs may change at the bank’s discretion.
On May 20, 2009, FDIC deposit insurance of $250,000 per depositor was extended through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts, which will remain at $250,000 per depositor. (This supersedes the October 3, 2008 changes.)
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 Equal Housing Lender. Farm Bureau Bank is an Equal Opportunity Employer. |