Direct Checking

MARINETTE, WISCONSIN

DIRECT CHECKING ACCOUNT

Account may be opened by completing an authorization to direct deposit your entire "paycheck" from your employer to this account.

There is no minimum balance.

There is no monthly maintenance fee or per-check charge.

A statement of activities is provided monthly. (Upon request, this statement may also be expanded to show activity on a statement savings account and loan information on a maximum of three (3) loans with monthly amortization terms.)

This is a variable rate account, which means that the interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily. To view the current rate, click here.

Interest begins to accrue on the business day you deposit cash or non-cash items (such as checks). Interest does not accrue on amounts withdrawn on the date of withdrawal.

Interest is compounded and paid monthly on the statement cycle date. If you close your account before interest is credited, you will receive the interest accrued to the date of the closing withdrawal.

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

If the direct deposit of your "paycheck" is discontinued by you or by your employer, the account will no longer be an interest bearing account. It will however continue to be a no minimum balance account with no monthly maintenance fee or per-check charges.

Other account fees which may pertain to this account are contained in our Miscellaneous Fee schedule.

Overdraft Protection is available on this account.

A F&M MasterMoney Card or an F&M ATM Card may be linked to this account for use at ATMs and Point-of-Sale merchants.

A complete disclosure, as required under Federal Truth-in-Savings, of the terms and conditions on the Direct Checking account is available upon request.

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