| Passbook Savings |
Sherwood Money Market | Individual Retirement Account |
Certificate of Deposits | ||
|---|---|---|---|---|---|
| Minimum opening amount | $50 | $1000 | $50 | $500 | |
| Minimum balance requirement |
$50* | $1000 | $50 | $500 | |
| Service charge (if minimum balance not kept all month) |
No Service Charge | $5/month | see below | see below | |
| Limited Transactions | 10/quarter | 6/month | n/a | n/a | |
| Fee for additional transactions | $1 for each withdrawal over 10/quarter | ** | n/a | n/a | |
| Learn More | Learn More | Learn More | Learn More |
Personal Savings
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IRAs and CDs must maintain a minimum balance to remain open.
*No interest paid for Passbook Savings balances less than $50.
**The bank reserves the right to close accounts that misuse or abuse limited transaction accounts.
See required documentation for opening a new personal account.
All accounts must have at least one (1) owner that is a legal adult; at least 18 years of age.
To have account in minors name minor has to be 14 years of age and have at least (1) owner that is a legal adult; at least 18 years of age.
