this disclosure contains the rules which govern your Private Money Market deposit account.
Variable Rate
The interest rate for your account is variable. Your interest rate and annual percentage
yield may change at any time. The interest rate and annual percentage yield for your account
depend upon the applicable rate tier. The interest rate and annual percentage yield for
these tiers may change. As of November 26, 2024, the Private Money Market tiers are as
follows:
| Balance Range | Interest Rate | APY |
| Under $10.00 | 0.000% | 0.00% |
| $10.00 – $999,999.99 | 2.374% | 2.40% |
| $1,000,000.00 – $9,999,999.99 | 3.251% | 3.30% |
| $10,000,000 and up | 3.590% | 3.65% |
Determination of Rate
At our discretion, we may change the interest rate on your account.
Frequency of Rate Change
We may change the interest rate on your account at any time.
Minimum Balance Requirements
You must deposit at least $10.00 to open the account. You must maintain a minimum balance of
$10.00 in the account each day to obtain the disclosed annual percentage yield. APYs are
paid based on the tier that your balance falls into each day.
To avoid the imposition of the maintenance fee you must meet the following requirements: a maintenance fee of $15.00 will be imposed for each statement cycle that the account falls below $50,000.00 on any day of that monthly statement cycle.
Compounding and Crediting
We utilize a monthly statement cycle. Interest will be compounded and credited to your
account every month. If you close your account before interest is credited, you will not
receive the accrued interest.
Balance Computation Method
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. Interest begins to
accrue on the business day an item is deposited.