Checking Accounts

On all our checking accounts the statements will be mailed to you each month with your transactions in image form.  All checks are safely destroyed.

Contact us for our current Truth-in-Savings Disclosure for more details on any of these accounts.


Personal Checking

This account has unlimited check writing.  This account requires a minimum deposit of $100.00 to open the account and there is a monthly maintenance fee of $1.00 if your account falls below $200.00 any day of the cycle and a per item fee of $0.15 will be charged for each debit transaction (withdrawal, check paid, automatic transfer, or payment) out of this account.  This fee does not apply to senior citizens 62 years of age or older, minors age 18 or under, full-time students up to age 24 or Mortgage Advantage Plan Members.  A Mastermoney Debit Card is available with bank approval.

Elite Club Checking

This account has many wonderful services to offer for a small monthly fee of $4.00/month, such as:

• Checking with no minimum balance
  
• A selection of checks that we will purchase at no charge to you
  
• $10,000 accidental death, dismemberment and loss of sight insurance. (additional accountholders can be insured for an additional $1.35/month)
  
• Travel Dividends
  
• Car Rentals
  
• No fees for purchasing travelers checks, money orders, or cashiers checks
  
• No fees for limited amounts of photocopies
  
• Senior Citizen Discount on Elite Club membership
  
• A Mastermoney Debit Card with bank approval
  

Mortgage Advantage Plan (M.A.P.) Checking Account

We reward our mortgage customers with the benefits of our M.A.P. Plan. You must have your home mortgage originated with the Necedah Bank to qualify for this account.

• No minimum balance checking account
  
• Unlimited check writing
  
• One free box of personalized checks (10% off subsequent check orders)
  
• No minimum balance savings account
  
• 20% discount on safe deposit box
  

Interest Bearing Checking Account

Our checking account that pays interest with the convenience of check writing

• Monthly statement
  
• Unlimited check writing
  
• Interest paid monthly
  

A monthly maintenance fee of $5.00 will be charged and no interest paid if the minimum balance of $500 is not maintained.

Money Market Account

The Money Market Account is an interest bearing account which, generally earns higher rates than our Interest Bearing Account.  Convenient monthly statements.  There are transaction limitations* and minimum balances that apply.  This is a variable interest rate account so the interest rates and Annual Percentage Yields may change at any time.  Please contact us for a Truth-in-Savings disclosure and current rates.  A monthly maintenance fee of $10.00 can be waived by maintaining a minimum balance of $1,000.00.

*Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six (6) per statement cycle. (federal law).  

Money Market Index Account

A smart choice for customers able to maintain a $10,000 balance who want the ultimate combination of daily access and competitive market based interest rates.

• Interest credited monthly
  
• 6 preauthorized, automatic, or telephone transfers per month
  
• Unlimited over the counter withdrawals
  

A monthly maintenance fee of $10 can be waived by maintaining a minimum balance of $5,000.

Business Checking

Our business customers also have unlimited check writing privileges and convenient monthly statements in which they will have all transactions in image form.  Our business statements are cycled at month-end so they are available at the first of each month for bookkeeping purposes.  Please contact us for more details about this account and minimum balance requirements.

Mastermoney Debit Card    

The Necedah Bank Mastermoney Debit Card is available with any checking account, subject to bank approval. Use it instead of checks wherever MasterCard, Shazam, Tyme, Pulse, or Cirrus are accepted. This card can be used at a point of sale for purchases or at an ATM for cash withdrawal. Contact us for more details. For service charge free ATM's go to Shazam Privileged Status for details.

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.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest.  It also includes Interest on Lawyers Trust Accounts ("IOLTAs").  It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006

The UIGEA, signed into law in 2006, prohibits any persona engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling.  The Department of the Treasury and Federal Reserve Board has issued a joint final rule, Regulation GG, to implement this Act.

As defined in Regulation GG, unlawful internet gambling means to “place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made.”

As a customer of The Necedah Bank, these restricted transactions are prohibited from being processed through your account or banking relationship with us.  If you do engage in an Internet gambling business and open a new account with us, we will ask that you provide the evidence of your legal capacity to do so.