CS&L’s Savings Account is ideal for students looking to make frequent transactions at a convenient location. The terms of our Savings Account are as follows:
- A minimum deposit of $5.00 is required to open a savings account.
- Your account will earn interest at an annual rate of .5% once your account reaches $25 or more during the month. Interest is figured on your average daily balance compounded monthly. This is the current rate and is subject to change.
- If your account balance falls below $3.00, you will be charged a monthly service fee of $1.00.
- If your account reaches a zero balance, it will be closed.
- You may withdraw up to $75.00 (in cash) per day.
- If you want to withdraw more than $75.00 (in cash), you will need to give the bank a 24 hour notice plus have on file a signed parent authorization form.
- Any withdrawal amount may be issued in the form of a check… 24 hour notice is not needed.
- Passbooks will be given to account holders; however, they are not needed to make transactions.
- There is no deposit limit on this account.
- A parent authorization form will be required to open an account.
Learn more about the quick and easy account opening process