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Your 1st Security Bank Business Accounts
Your 1st Security Bank Business Accounts
| Money Market | Savings | OR Public Funds | ||
|---|---|---|---|---|
| Current Annual Percentage Yield (APY) | Visit fsbwa.com/rates | |||
| Minimum Daily Balance | $1,500 | $500 | $1,500 | |
| Transaction Limit | N/A | N/A | N/A | |
| Minimum Balance to Earn Interest Interest is compounded and credited at the end of each month using the daily balance method |
$1 | $500 | $1 | |
| Cash Deposited Limit | Free | Free | Free | |
| Fee for Cash Deposit Over Limit | Free | Free | Free | |
| Paper Statement | Free | Free | Free | |
| Check Images with Statements | $3 | N/A | N/A | |
| Monthly Maintenance Fee | $7.50 | $5 | $7.50 | |
| How to Avoid Monthly Maintenance Fee | Minimum daily balance of $1,500 per statement cycle | Minimum daily balance of $500 per statement cycle | Minimum daily balance of $1,500 per statement cycle | |
1st Security Bank will not assess a monthly maintenance fee on all deposit accounts through 4/30/23. If you decide that another type of account fits you better or if you want to schedule an account review with your banker please call your local branch.
CDs
Your current CD terms and conditions will be updated as follows:
As of 2/27/23, interest will be compounded and credited monthly on the last day of each month using the daily balance method. No additional deposits or withdrawals will be accepted including recurring transfers, except for existing ‘Jump & Bump’ CD holders. The ‘Jump & Bump’ option offered by Columbia Bank will be honored until the CD’s original maturity.
If your CD is a 180-day, 1 year, 21-month, 30-month, 48-month or 5-year CD, your CD will mature on its original maturity date and automatically renew at 1st Security Bank’s posted rate unless you take other action during the ten day grace period. The rate on your CD will not change until it reaches its maturity.
CDs with terms differing from those mentioned previously will not automatically renew. A notice will be mailed to you in advance of maturity and you will have the opportunity to choose from one of our existing products.
We may impose a 90-day interest penalty if you withdraw any of the funds from a CD with a term of less than 1 year before the maturity date. We may impose a 180-day interest penalty if you withdraw any funds from a CD with a term of 1 year up to 48-months. We may impose a 365-day interest penalty if you withdraw any of the funds from a CD with a term of 48 months or greater before the maturity date. The penalty is not limited to the interest paid to date. The interest penalty will be calculated on the amount of the withdrawal. At our option, we may pay the account before maturity without imposing an early withdrawal penalty when an account owner becomes deceased.