Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts: All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012.  This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

MMAX

Minimum Balance Requirements
You must deposit $2500.00 to open this account. You must maintain a minimum daily balance of $2500.00 in the account every day to obtain the disclosed annual percentage yield. A minimum balance fee will be imposed every statement cycle if the balance in the account falls below $2500.00 any day.

Transaction Limitations
You may make only six transfers/withdrawals per calendar month or statement cycle of at least 4 weeks (not including those made by mail, in person, by telephone with check mailed to us, messenger, ATM, or to repay loans with us), and only 3 of these may be payments by check, draft, debit card or similar order to third parties. Repeated excessive withdrawals for three statement cycles will result in loss of interest bearing status.

Frequency of Rate Change
We may change the interest rate for your account at any time.

Compound and Crediting
Interest will be compounded on a monthly basis. Interest will be credited to your account on a monthly basis. If you close your account before interest is credited you will not receive the un-credited accrued interest. Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Balance Computation Method
We use the daily balance method to calculate th interest on your account: This method applies a daily periodic rate to the principal in the account each day.

Electronic Fund Transfer Limitations
There are limits on the dollar amount of cash withdrawals you can make using the automated teller machines. You will be informed on these limits when you receive your card.

Please contact us for more information on opening a First Community Bank IRA.

For additional information on our accounts, contact us to request a copy of our Schedule of Fees and Deposit Account Terms and Conditions.

First Community Bank of Bedford County
     
Member FDIC     EHL
NOTICE: First Community Bank of Bedford County is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. Please contact us with any concerns or comments.